 |
Mr.Pradeep Diwan
LIC Agent
7C / 8C, Parekh Nagar Indl. Estate,
S. V. Road, Kandivli (West), Mumbai -
400067
Maharashtra, India.
Tel: 28050377/
28055576
Fax: 28056748
Cell: 9324422924
pradeep@licinsurance.com |
 |
 |
|
 |
 |
 |
|
|
JEEVAN
BAALYA
|
-
Children
in the age group of 0 to 17 years can take
this policy .
-
Risk
on the child's life commences at age 21 years,
and thereafter the policy continues like any
other Endowment Assurance. Sum assured is
payable either on survival to the term or
on death happening within the term.
-
The
policy can be taken in units, where 1 unit
= Rs. 25,000, maximum being 4 units.
-
Basic
premiums are payable throughout the term or
till the death of the child if the proposer
is alive on the vesting date.
-
The
premiums in respect of additional benefits
are payable up to date of vesting or earlier
death of the proposer.
-
Income
benefits are available under this plan by
payment of an appropriate additional premium.
-
The
policy continues as an Endowment Assurance
plan.
-
Full
Sum Assured is payable on death during the
term or on survival to date of maturity.
-
Premiums
to be paid by the life assured till date of
maturity or earlier death.
-
Accident
benefits are available as per rules.
Death of Proposer
during Deferment period
-
In
the event of the death of the proposer during
deferment period, income benefits on a quarterly
basis till the vesting date are given to the
child as detailed below. This benefit is available
on the payment of an additional premium
-
The
first income benefit is paid on the next quarterly
policy anniversary following the death of
the proposer. This payment will be on a proportionate
basis for the actual number of days from the
date of death
-
The
last instalment will fall due on vesting date
-
Rs.
300/- per quarter if the child's age is less
than 5 years.
-
Rs.
600/- per quarter if the child's age is 5
years and above.
-
Rs.
900/- if the child's age is 15 years and above.
-
Future
premiums till vesting date are waived by securing
the premium waiver benefit.
Death of the
life assured (child) before Vesting i.e. during
the deferment period.
-
The
policy shall stand cancelled and a sum equal
to all premiums paid is refunded. If premium
waiver benefit has been secured, i.e. in the
event of the child dying after the proposer
dies, waived premiums are also refunded.
-
Minimum
age of life assured at entry: 0 years.
-
Maximum
age of life assured at entry: 17 years.
-
Minimum
premium payable under the policy: Rs. 1000
(excluding premium for Premium waiver benefit
and Income benefits).
-
Life
assured to undergo medical exam if deferred
period is less than 10 years.
-
Minimum
Sum Assured: Rs. 25,000.
-
Premium
Waiver Benefit is optional.
-
No
rebate on additional policy premium.
-
Only
standard male and female (category I) are
eligible to have this policy.
-
Sub
standard lives and persons following hazardous
occupation are not eligible.
-
Minimum
age at entry: 21 years.
-
Maximum
age at entry: 50 years.
-
Standard
age proof on both lives required (Life assured
and Proposer).
-
Proposer
to undergo medical examination. Cost of special
reports to be borne by proposer and the cost
will not be reimbursed.
-
No
loan will be granted.
-
No
paid up value if deferred period is less than
10 years.
-
If
the policy is discontinued, and if the deferred
period is more than 10 years, a reduced cash
option is available on deferred date. Minimum
three years premiums have to be paid.
-
After
deferment period paid up value will be quoted
on application.
-
No
paid up value on additional benefits.
-
Guaranteed
surrender values are available on surrender
of policy.
|
|
| |
|
