Untitled Document
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Jeevan Chhaya
Suitable
This plan is best suited for some one planning for children's higher
education/marriage, as money back instalments are payable in the
last four years of the term choosen. Couples having a child aged
less than 1 year can take this policy without having to undergo
any medical examination. Others with or without a child aged less
than a year can also opt for the policy, but would have to undergo
medical examination
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Features
- A policy where sum insured is payable to the
life assured in four equal instalments in the last four years
of the tenure of the policy
- Full sum insured becomes payable in case of
death of the life assured within the term and additionally money
back instalments are payable
- Bonus for the full term plus any additional
bonus is payable on the date of maturity
- Premiums cease on death or on expiry of term
whichever is earlier
- This plan can be availed for terms between
20 and 25 years.
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Benefits
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Under this plan, irrespective
of the life assured surviving the term, four equal instalments
of the sum assured are payable in the last four years of the
tenure of the policy
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For example, for the term
of the policy is 20 years, for every Rs 1,00,000 of sum assured,
Rs. 25,000 each is payable at the end of 17th, 18th, 19th and
20th policy year. If the death occurs in the 18th year, full
sum insured without bonus is payable immediately. The balance
three instalments of one-fourth sum assured each, will be paid
in the 18th 19th and 20th policy year.
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Other Conditions
- Minimum amount of Sum Insured - Rs. 30,000
- Minimum premium must be Rs.800
per annum
- Minimum age at entry - 18 years completed
- Maximum age at entry - 40 years
- Maximum age at entry can be raised to 45 years
if the original or attested birth or school certificate is submitted
as age proof
- Maximum maturity age - 65 years
- For proposals without medical certificate,
a declaration has to be given
- Some restrictions apply for female lives
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