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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 |
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NEW
JANARAKSHA
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This
plan is similar to an Endowment Assurance
plan except that it has a special additional
feature of a 3 year free risk coverage, even
if premiums are defaulted. It also comes with
a built-in accident benefit.
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This
policy is most suitable for persons who are
not sure of a regular income every year and
who expect their income position to improve
after a short while. For example, farmers
who experience crop failure at intervals would
find this plan beneficial.
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The
additional premium payable when compared to
an ordinary Endowment Assurance plan is marginal.
For example, under an Ordinary Endowment Assurance
plan, for Age 30 and a term of 25 years, per
Rs 1000 sum assured, the premium payable is
42.05 (inclusive of accident benefit). For
the New Jana Raksha plan, premium for the
same policy is Rs 42.90 i.e. only Rs. 0.85
more, for the additional benefits.
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Sum
assured is payable either on survival to the
term or on death happening within the term.
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If
two years premiums are paid under the policy,
the policy will automatically extend for 3
more years even if further premiums are defaulted.
This facility is available for any number
of times.
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Built
in accident benefit.
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Bonus
for the full term is payable on the date of
maturity or in the event of death, whichever
is earlier.
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Premiums
cease at death or on expiry of term whichever
is earlier.
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If
2 years premiums are paid under the policy,
the policy is continued uninterrupted for
3 years even if premiums are defaulted. This
facility is available for any number of times.
The life assured can pay the defaulted instalments
within three years with interest and thus
get the cover extended. No evidence of health
needs to be produced. The policy also comes
with a built-in accident benefit.
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Minimum
Sum Assured : Rs.30,000
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Maximum
Sum Assured : Rs.5,00,000
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Minimum
premium must be Rs.800 per annum
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Maximum
term : 30 yrs
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Minimum
age at entry : 18 yrs
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Maximum
age at entry : 50 yrs
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