New Janaraksha

Endowment Assurance Plans -

Make Provisions for loved ones while enjoying 
long-term personal benefits.

Best suited for people with irregular income and whose job is not secured. Example : Farmers, milk vendors, petty / small businessmen.

[a] Financial security for the family, in case of unfortunate death of the Policyholder, as risk is covered even during lapsing [up to 3 years], after the premiums are paid for 2 years.

[b] In the case of non-std. age proof, a max.S.A. of Rs.1 lakh is allowed.

[c] Premiums have to be paid till maturity or death of the policyholder, whichever is earlier.

[d] For Females under category 3, plan is allowed only for literate females having independent income as given under article Insurance on Female Lives.

[e] Plan is not allowed to widows belonging to category 3.

[f] Plan is allowed to Physically Handicapped Lives under Group A.

[g] Even if the Policyholder is not able to pay further premiums after paying first two years premiums, the life risk cover continues for three more years from the date of premium unpaid.

[h] For self employed women falling under Cat.3 :

Restriction regarding Age at entry 35, Term 20, Maturity age 55 has been relaxed to 40, 25 & 65 respectively with Non-Std.Age proof.

[i] When self-declaration is the Age proof min.age at entry is 20 under all plans including plan 91.

Maturity Benefits : On maturity, Sum Assured + Bonus is given.

Death Benefit : On death of policyholder before maturity, S.A. + Bonus given to the nominee.

Accident Benefit : Maximum cover increased from 5 lakhs to 7.5 lakhs w.e.f.23-11-2002.