Plan Features
Bima Jyoti (860)
Product Summary
Non Linked, Non-participating, Individual, Limited Premium Payment, Life Insurance Savings Plan. In other words, Guaranteed, fixed benefit scheme with premium payment term lower by five years than the term.
Premium Payment Mode :
Yearly, Half Yearly, Quarterly, Monthly (NACH and SSS)
Annuity Mode
-
Optional Benefits
-
Term :
15 to 20 Years
Premium Paying Term :
-
Minimum Age at Entry :
90 days(Completed)
Maximum Age at Entry :
60 Years (NBD)
Annuity Options
-
Minimum Purchase Price
-
Deferment Period
-
Joint Annuity
-
Maximum Cover Ceasing Age:
-
Maturity Age:
-
Sum Assured
-
Maturity Benefit
-
Death Benefit
-
Minimum Basic Sum Assured :
-
Minimum age at the end of Premium Paying Term
-
Maximum Maturity Age :
75 Years (NBD)
Minimum Premium:
-
Maximum Premium:
-
Minimum Basic Sum Assured :
-
Sum Assured on Death
-
Minimum Sum Assured :
1,00,000
Maximum Sum Assured :
No limit
Guaranteed Additions
-
Survival Benefits
-
Riders Available
Accident Benefit or Accidental Death and Disability benefit, Critical Illness Rider, Term Rider, PWB.
Accidental Death and Disability benefit (ADDB) :
Yes
Policy Benefits
On Death :
Sum Assured + Vested Guaranteed Additions, OR 125% of Basic Sum Assured, OR 7 times of Annualized Premium, OR 105% of all premiums paid as on death, WHICH EVER IS HIGHER.
On Survival :
Basic Sum Assured + Guaranteed additions at the rate of 50 per 1000 sum assured per year.
On detection of Early Stage Cancer
-
On detection of Major Stage Cancer
-
Settlement Option :
-
Multiple Allowed
-
Surrender Value :
Surrender allowed after two full year premium payment
Loan :
Loan available after two full year premium payment.(90% of Surrender value for in force policies and 80% for paid up policies.)
Income Tax Benefit :
Premium paid under the policy is eligible for Tax rebate under section 80C. Maturity benefit under this policy is tax free under section 10 (10 D) of income tax act.
Proposal Form :
Form no 300 for major lives and form 360 for minors.