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Endowment Insurance Policies
Jeevan Mitra (Triple Cover )
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Jeevan Mitra Triple Cover
Suitabille

Persons desirous of making provision for their dependants during their earning period should have this policy. For a very low additional cost, sufficient family benefit is secured. For example, for a person aged 30 years, selecting a 20 year insurance policy:

A person choosing Endowment Assurance has to pay 51.50 per 1000 per annum

A person choosing Jeevan Mitra - triple cover has to pay 58.85 per 1000 per annum


Salient Features
  • Sum assured is payable if the life assured survives the selected term, while triple the sum assured is paid in the event of life assured dying within the term

  • Bonus is payable on the date of maturity or in the event of death, whichever is earlier

  • Premium payment cease on death or on expiry of term whichever is earlier

  • Accident benefit is available with this plan
Benefits
On Survival

Basic sum assured is given to the life assured

On Death
Triple the sum assured is given to the nominee of the life assured in the event of death happening within the term


Other Conditions
  • Policies are issued only with term 15 to 30 years

  • Ages between 18 and 50 years only will be considered

  • Maximum premium ceasing age: 70 years

  • Minimum sum assured Rs. 30,000

  • Minimum premium must be Rs.800 per annum

  • Only standard male lives are eligible and sub standard category 1 and female lives category 1 and 2

  • People following hazardous occupations are not eligible

  • Accident benefit can be availed for basic policy

  • Bonus calculated on basic insurance

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