Product Summary:: Jeevan Shree-I

Jeevan Shree-I
Product
summary:
This is an Endowment Assurance plan offering the choice of many convenient premium paying terms. It provides financial protection against death throughout the term of plan with the payment of maturity amount on survival to the end of the policy term.
Premiums:
Premiums are payable yearly, half-yearly, quarterly or through Salary deductions, as opted by you, throughout the premium paying term or till earlier death. Alternatively premium may be paid in one lump sum (Single premium).
Guaranteed
Additions:
The policy provides for the Guaranteed Additions at the rate of Rs. 50/- per thousand Sum Assured for each completed year for first five years of the policy. The Guaranteed Additions are payable along with the Basic Sum Assured at the time of claim.
Bonuses:
The policy participates in the profits of the Corporations life insurance business from the 6th year onwards. It will get a share of the profits in the form of bonuses. Simple Reversionary Bonuses will be declared per thousand Basic Sum Assured annually at the end of each financial year. Once declared, they will form part of the guaranteed benefits of the plan.
General Conditions: Min. age at entry: 18 year (lbd). Max. age at entry: 65 years (nbd). Min. S.A.: Rs. 5 lakhs. Max. SA.: Any amount. SA in multiples: Rs. 1 lakh. Max. Maturity age: 75 years (nbd). Modes Allowed: ALL Accident benefit per 1000 SA: Allowed** (with extra prem.). Min Term: 5 years. Max Term: 25 years. Requirements in writing: Female lives category: I/II/III
Non-Medical General : Not Allowed Non-Medical Professional: Allowed Non-Medical Special: Allowed Age proof: Std./NSAP-1/2 Form Number: 300 Dating Back @ 8%: Allowed Risk Coverage: SA+GA+Bonus Actual Sum assured: Basic SA Policy Servicing: Term Rider Option: Yes. Critical Illness Rider: Yes. Policy Loan @ 9%: Yes. Revival at 9%pa (payable HLLY): Yes. Surrender of Policy: Yes. Housing Loan: Yes. Assignment: Yes. .
Term PPT
10
15
20
25
1, 2, 3, 1, 2 or 3 4 or 6
1, 2, 3, 4, 1, 2, 3, 4, 1, 2, 3, 4, 6, 8, 10 or 6, 8, 10, 12 6, 8 or 10 12 or 16
. SA Rebate per 1000 SA: 50 lacs & above. 0.50 for regular premium. 2.00 for single premium.
Mode Rebate: Yly : 2% Hly : 1% . Benefits: With convenient premium paying terms, this plan is like an Endowment plan suitable for high earning people. Death benefits: (a) During first 5 policy years, for each completed year, Vested GA @ Rs 50 per 1000 SA + Basic SA. (b) On death after 5 years, Accrued reversionary Bonuses declared from 6th year onwards + Basic SA + Vested GA of Rs 50 per 1000 SA per year for the first 5 years. Maturity benefits: Reversionary Bonus (6th Year onwards) + Basic SA + Vested GA @ Rs 50 per 1000 SA (for 1st 5 years). ==>After completion of 3 policy years, the policy can be surrendered for cash. Paid-up Value: (a) 2 full years premiums should have been paid for more than 10 years PPT. (b) Atleast 1 full years premium should have been paid for PPT 10 years & less. Term Assurance Rider Option: Along with Basic SA, an amount equal to Term Assurance SA will be payable on Death during the policy term & during the PPT, premiums are payable. In addition to the premium under the basic plan, premium for this option will be payable. Std/Sub Std lives up to class III EMR & Female Lives Category I & II allowed. Handicapped Lives, pregnant females, & persons attracting occupational extra of more than Rs. 4 per 1000 SA are not allowed. GTD Surrender Value for: (a) Single Premium: 90% excluding all extra premiums. (b) Excluding the premium for the first year, it will be equal to 30% of the total amount of premiums paid for other modes. Special Surrender Value: While calculating SSV, the vested GA plus Reversionary Bonus if any, will be taken into account. SSV is available after completion of 1 policy year provided premiums have been paid atleast for 1/10th of PPT sub. to a minimum of 1 full years premium. Accident Benefit: Available for full term of the policy or till the policy Anniversary immediately following LA attaining 70 years of age. Maximum of Rs. 50 lakhs (under all policies taken together). .
Duration of Policy from the Date of commencement. Less than 1 year
SSV as percentage of Single Premium excluding extra and rider premium, if any 70%
One year to less than 2 years Two years to less than 3 years. After completion of 3 years.
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75% 85% As per SSV factor applicable to Endowment Table
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Product Summary:: Jeevan Shree-I

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Jeevan Shree-I

Duration of Policy from the Date of commencement. Less than 1 year

75% 85% As per SSV factor applicable to Endowment Table

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