Jeevan Pramukh

Plans for High Worth Individuals

Match your Highflying lifestyle with the right kind of Investment.

Feature : This with Profit plan is like an Endowment Assurance plan suitable for high net worth people with convenient premium paying term of 3, 4 and 5 years.

Premiums :

Premiums are payable yearly, half-yearly, quarterly or monthly, as opted by you, throughout the premium paying term or till earlier death.

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 Sum Assured at the time of claim.

Bonuses : 

The policy participates in the profits of the Corporation’s life insurance business from the 6th year onwards. It will get a share of the profits in the form of bonuses. Simple Revisionary Bonuses will be declared per thousand Sum Assured annually at the end of each financial year. Once declared, they will form part of the guaranteed benefits of the policy.

Maturity Benefit:

The Sum Assured along with accrued guaranteed additions and vested simple revisionary bonuses and Terminal Bonus, if any, is payable in a lump sum on survival to the end of the policy term.

Death Benefit : 

The Sum Assured along with accrued guaranteed additions and vested simple revisionary bonuses and Terminal Bonus, if any, is payable in a lump sum on death of the life assured during the policy term.

Surrender Value :

Buying a life insurance contract is a long-term commitment. However, surrender value is available on the plan on earlier termination of the contract.

Guaranteed Surrender Value :

The policy may be surrendered for cash after more than one year’s premium have been paid. The guaranteed surrender value will be 30% of the total amount of premiums paid excluding the first year’s premium and the extra premiums, if any.

Paid-up Value

The policy will acquire paid-up value after more than one year’s premiums have been paid subject to Terms and Conditions.

ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS:

Minimum Age at entry	18 years completed
Maximum Age at entry	65 years (age nearer birthday)
Maximum Maturity Age	75 years (age nearer birthday)
Policy Term	5, 10, 15, 20 or 25 years
Sum Assured	Minimum Rs.10 lakh. Thereafter in multiples of Rs.1,00,000

Rebate for Mode of Premium Payment:

Yearly	2% of tabular premium
Half-Yearly	1% of tabular premium
Quarterly	Nil
Monthly	5% extra of tabular premium

Sum Assured Rebate:

Up to and including Rs.50 lakh	Nil
Above Rs.50 lakh	Rs. 0.50 per thousand Sum Assured