Untitled Document
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Jeevan
Sukanya
Suitabile
This plan is exclusively designed for female child aged 1 to 12
years. Basically, it is a limited premium payment plan for the child
providing risk cover after a deferment period. In view of the multiple
benefits the policy offers, any girl child between 1 to 12 years
may opt for this policy. When the life assured gets married, a free
insurance cover extends on the life of husband also. |
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Features
- Girl child between ages 1 and
12 years only is eligible.
- Father, mother and if they are not alive, legal
guardian can submit proposal on the life of the child.
- Risk under the policy commences from policy
anniversary falling immediately after attainment of age 7 years
of the child or 2 years from date of commencement of policy,
whichever is later.
- Policy vests on the life assured after the
life assured attains majority.
- When the child gets married, a free insurance
cover extends for the life of husband also.
- The premium payments are to be made for a period
equal to 20 years minus age at entry. Policy term is fixed at
50 years minus age at entry.
- No bonuses are payable during waiting period.
However, once risk commences bonus vests for waiting period.
- Premium waiver benefit available : for this
deferred period is reckoned as equal to 18 minus age at entry.
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Benefits
On Survival
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On surviving premium paying
term, full sum assured is paid as survival benefit. The policy
continues with risk cover and participates in profit up to age
50 years.
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On the life assured surviving
up to date of maturity only vested bonuses will be payable,
the sum assured having already been paid as survival benefit.
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If the life assured gets married,
insurance cover commences for husband. If the husband pre-deceases
the life assured during the term of the policy, full sum assured
without bonuses is payable. The contract does not come to an
end and continues on the life of the woman and participates
in the profit.
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On Death
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In case the life assured dies
before the risk is commenced (i.e. during deferred period),
premiums paid (including pwb premiums) are refunded and the
contract comes to an end.
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In case of the death
of life assured after the risk commences, but before date of
maturity, full sum assured along with vested bonuses are payable.
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Risk on the life of husband
- On the marriage of the life assured, a free
cover extends on the life of the husband also with no additional
premium payment.
- The Risk on husband's life commences from :
- Policy anniversary falling on or immediately
after completion of 20 years of age by the life assured.
- Three calender months after date of marriage
or
- One calender month after receipt of intimation
of marriage with proper evidence, whichever is later.
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Other Conditions
- Minimum sum assured:Rs.30,000.
- Maximum sum assured:Rs.5,00,000.
- Minimum premium must be Rs.800 per annum
- No medical exam if the age of the child is
less than 10 years.
- Proposals from children who are not attending
school even after 5 years of age will not be entertained.
- A joint declaration signed by both parents
declaring state of health of the child is required to be submitted.
- The period from date of commencement of policy
to the date of commencement of risk is known as waiting period.
Waiting period in no case will be less than 2 years.
- No Accident Benefits and Extended Permanent
Disability Benefit (EPDB) under this plan.
- Permanent Disability Benefit (PDB) only from
date of vesting.
- Evidence of marriage :
Marriage certificate.
Letters from two respectable persons who attended the marriage.
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