Endowment Plans
Endowment Assurance Jeevan Mitra (Double Cover)
Endowment Assurance (Limited Period) Jeevan Mitra (Triple Cover)
New Janaraksha Plan Jeevan Anand
Endowment Assurance
Moderate Premiums
High bonus
High liquidity Savings oriented.
This is the most popular form of Life Insurance. In this
policy, the policy holder gets a lump sum amount at any
pre specified age. In the event of unfortunate death of policy
holder sum assured along with vested bonuses (in case) is
paid.
In the case of maturity at the end of endowment term, the
amount receivable can be invested to provide an annuity
during the remainder of his life.
Premiums are payable for the selected term of years or until
death if it occurs during the term period.
Suitable For:
This plan is suitable for people of of all ages and
social groups who wish to protect their families from a
financial setback that may occur owing to their demise.
Accident Benefit:
By paying extra premium of Rs.1 per Rs.1000/- sum
assured per year, the policy holder is entitled to the
benefits on accidental death or permanent disability caused
by an accident equal to the sum assured.
Bonuses:
Being a with-profits plan it participates in the
profits of the LIC Corporation’s life insurance business.
At the end of each financial year a share of profits in the
form of bonuses are declared per thousand Sum Assured
annually. Bonus once declared, becomes the guaranteed
benefits of the plan.
Survival Benefit:
1. Payment of Sum Assured.
2. Vested Bonus.
3. Final Additional Bonus (if any).
Death Benefit:
1. Payment of Sum Assured
2. Vested Bonus accused till the time of death
Accidental Benefit:
1. Payment of Double the Sum Assured
2. Vested Bonus accused till the time of death
Surrender Value:
Life Insurance Policy is a Long Term Contract, surrender
value of policy is available if the policy holder wants to
terminate the same before maturity date.
Jeevan Mitra (Double Cover)
This is an Endowment Assurance plan under which the policy holder makes provision for the family in the event
of unfortunate death and availing double the sum insured benefit.
The sum assured along with vested bonuses are paid at the end of endowment
period but in case of unfortunate death, double the sum assured along with
the vested bonuses. The main benefits of this plan are:
-> Moderate Premiums
-> High bonus
-> High liquidity
-> Savings oriented.
Premiums are payable for the selected term of years or until death if it occurs during the term period.
Suitable For:
This plan is suitable for people of of all ages and social groups who wish to protect their
families from a financial setback that may occur owing to their demise.
Accident Benefit:
By paying extra premium of Rs.1 per Rs.1000/- sum assured per year, the policy holder is entitled to
the benefits on accidental death or permanent disability caused by an accident equal to the sum assured.
Bonuses:
Being a with-profits plan it participates in the profits of the LIC
Corporation's life insurance business.
At the end of each financial year a share of profits in the form of bonuses are declared per thousand Sum Assured annually.
Bonus once declared, becomes the guaranteed benefits of the plan.
Survival Benefit:
1. Payment of Sum Assured.
2. Vested Bonus.
3. Final Additional Bonus (if any).
Death Benefit:
1. Payment of Double the Sum Assured
2. Vested Bonus accused till the time of death
Accidental Benefit:
1. Payment of Thrice the Sum Assured
2. Vested Bonus accused till the time of death.
Endowment Assurance (Limited Period)
As the name suggests, in this endowment plan, the payment of premium can be limited
either to a single payment or to a term shorter than the policy term.
This plan is suitable to those who want to make provision of a lump sum amount at any desired
age or to protect the family financially in the event of the death. But at the same time also want to
restrict the paying term for a shorter term.
Accident Benefit:
By paying extra premium of Rs.1 per Rs.1000/- sum assured per year,
the policy holder is entitled to the benefits on accidental death
or permanent disability caused by an accident equal to the sum assured.
Bonuses:
Being a with-profits plan it participates in the profits of the LIC Corporation�s life insurance business.
At the end of each financial year a share of profits in the form of bonuses are declared per thousand Sum Assured annually.
Bonus once declared, becomes the guaranteed benefits of the plan.
Survival Benefit:
1. Payment of Sum Assured.
2. Vested Bonus.
3. Final Additional Bonus (if any).
Death Benefit:
1. Payment of Sum Assured
2. Vested Bonus accused till the time of death
Accidental Benefit:
1. Payment of Double the Sum Assured
2. Vested Bonus accused till the time of death
Jeevan Mitra (Triple Cover)
This is an endowment Assurance plan, providing a living benefit along with higher risk coverage. Under this plan, capital is accumulated
for a specific purpose and protecting the desired financial goals against premature death of Life Insured. The sum assured along with
vested bonuses are paid at the end of endowment period but in case of unfortunate death, Thrice the sum assured along with
the vested bonuses. The main benefits of this plan are:
-> Moderate Premiums
-> High bonus
-> High Risk Coverage.
Premiums are payable for the selected policy paying term or until death if it occurs during the term period.
Suitable For:
This plan is suitable for people of of all ages and social groups who wish to protect their
families from a financial setback that may occur owing to their demise.
Accident Benefit:
By paying extra premium of Rs.1 per Rs.1000/- sum assured per year, the policy holder is entitled to
the benefits on accidental death or permanent disability caused by an accident equal to the sum assured.
Bonuses:
Being a with-profits plan it participates in the profits of the LIC
Corporation's.
At the end of each financial year a share of profits in the form of bonuses are
declared per thousand Sum Assured annually.
Bonus once declared, becomes the guaranteed benefits of the plan.
Survival Benefit:
1. Payment of Sum Assured.
2. Vested Bonus.
3. Final Additional Bonus (if any).
Death Benefit:
1. Payment of Thrice the Sum Assured
2. Vested Bonus accused till the time of death
Accidental Benefit:
1. Payment of Four times the Sum Assured
2. Vested Bonus accused till the time of death
New Janaraksha Plan
This is an Endowment Assurance plan that provides
financial protection against death throughout the term of plan. It
pays the maturity amount on survival to the end of the term.
Premiums:
Premiums are payable yearly, half-yearly, quarterly, monthly or
through Salary deductions, as opted by you, throughout the term of the
policy or earlier death. After at least two full years’ premiums have
been paid, full insurance cover is available even when premiums are
not paid for up to three years.
Death Benefit:
The Sum Assured plus all bonuses to date is payable in a lump sum upon
the death of the life assured during the policy term.
Accident
Benefit:
The Sum Assured (subject to a limit of Rs.5 lakhs) is
payable in a lump sum on accidental death of the life assured during
the policy term. In case of permanent disability of the life assured
due to accident during the policy term, this benefit is payable in
instalments.
Maturity
Benefit:
The Sum Assured plus all bonuses declared up to maturity date is
payable in a lump sum on survival to the end of the policy term.
Jeevan Anand
It is a unique plan which is a combination of
Endowment Assurance and Whole Life plans. Under this plan, sum assured
along with bonuses and final addition bonuses (if any) are paid at the
end of premium paying term.
The risk coverage continues till the death. Another sum
assured is given to the nominee of the Life Assured on death after the maturity.
This policy is suitable for the people of all ages & social groups.
Accident Benefit:
The policy holder is entitled to the additional benefits on accidental death equal to the sum assured or
Rs. 5 Lacs which ever is the maximum under this plan..
Bonuses:
Being a with-profits plan it participates in the profits of the LIC Corporation.
At the end of each financial year a share of profits in the form of bonuses are declared per thousand Sum Assured annually.
Bonus once declared, becomes the guaranteed benefits of the plan.
Death Benefit:
On unfortunate death of life assured (if any) Sum Assured along with the vested bonuses
is payable on death in a lump sum.
Accidental Death Benefit:
In case of Accidental deaths, an additional sum assured
(subject to a limit of Rs. 5 lacs) is payable during the premium paying term of thereafter up to age 70.
Maturity Benefits:
The Sum Assured along with the vested bonuses is payable in a lump sum on
survival to the end of the term.
An additional Sum Assured is payable on death thereafter.
