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Jeevan Amar - 855

Product Summary :
JEEVAN AMAR plan number 855 is a Non-Linked, Without Profit, pure protection plan. Under this plan there is flexibility to choose from two death benefit options viz. Level Sum Assured and Increasing Sum Assured.
Under this plan, there are two categories of premium rates viz. (1) Non-Smoker rates and (2) Smoker rates.

Premium Payment Mode:
Premiums can be paid either under Regular Premium, Limited Premium or Single Premium payment options under this plan. In case of Regular and Limited Premium payment, the premium can be paid regularly during the Premium Paying Term with modes of premium payment yearly or half-yearly.

Term :
10 to 40 Years

Minimum Entry Age :
18 Years (Last Birthday)

Maximum Entry Age :
65 Years (Last Birthday)

Minimum Sum Assured :
25,00,000

Maximum Sum Assured :
NO LIMIT

Policy Benefits :
On Death :
On death of the Life Assured during the policy term Sum Assured on Death shall be payable.

For Regular premium and Limited premium payment policy, Sum Assured on  Death is defined as the highest of: • 7 times of annualised premium; or • 105% of all the premiums paid as on the date of death; or • Absolute amount assured to be paid on death.

For Single premium policy, Sum Assured on Death is defined as the higher of: • 125% of Single Premium. • Absolute amount assured to be paid on death.

Absolute amount assured to be paid on death shall depend on Death Benefit Option chosen at the time of taking this policy and is as under:
• Option 1: Level Sum Assured: Absolute amount assured to be paid  on death shall be an amount equal to Basic Sum Assured, which shall remain the same throughout the policy term.
• Option II: Increasing Sum Assured: Absolute amount assured to be paid  on death shall remain equal to Basic Sum Assured till completion of fifth policy year. Thereafter, it increases by 10% of Basic Sum Assured each year from the sixth policy year till fifteenth policy year till it becomes twice the Basic Sum Assured. This increase will continue under an inforce policy till the end of policy term; or till the Date of Death; or till the fifteenth policy year, whichever is earlier. From sixteenth policy year and onwards, the Absolute amount assured to be paid on death remains constant i.e. twice the Basic Sum Assured, till the policy term ends.

The option once chosen cannot be altered subsequently.

On Survival :
On survival to the end of the policy term,no benefits shall be payable.

Surrendered Value :
No surrender value will be available under this plan. However on surrender of policy in the following cases (for both Level Sum Assured (Option I) as well as Increasing Sum Assured (Option II) options), an amount shall be refunded as per underwriting terms. (For more details contact branch office.)

Loan :
No loan will be granted under this plan.

Income Tax Benefit :
• Premium paid under this plan is eligible for TAX rebate under section 80c.

Proposal Form : 511 and 512 shall be used under this plan.

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