Plan Features
Jeevan Shiromani (947)
Product Summary
Jeevan Shiromani (947) is a non-linked with-profits, limited premium money back insurance plan specially designed and targeted for high networth individuals(HNIs). Minimum sum assured of the plan is restricted to 1 Crore. The plan also provided inbuilt critical illness rider for 10 lakhs.
Premium Payment Mode
Yearly, Half Yearly, Quartely, Monthly(SSS and NACH)
Annuity Mode
-
Optional Benefits
-
Term
14/10, 16/12, 18/14 AND 20/16 years
Premium Paying Term
14/10, 16/12, 18/14 AND 20/16 years
Minimum Age at Entry
18 Years completed
Maximum Age at Entry
55 years for term 14, 51 years for term 16, 48 years for term 18 and 45 year for term 20
Annuity Options
-
Minimum Purchase Price
-
Deferment Period
-
Joint Annuity
-
Maximum Cover Ceasing Age
-
Maturity Age
-
Sum Assured
-
Maturity Benefit
-
Death Benefit
-
Minimum Basic Sum Assured
-
Minimum age at the end of Premium Paying Term
-
Maximum Maturity Age
69 Years for term 14, 67 years for term 16, 66 years for term 18, 65 years for term 20
Minimum Premium
-
Maximum Premium
Minimum Basic Sum Assured
-
Sum Assured on Death
-.
Minimum Sum Assured
Rs 1 Crore and Multiple of 5 lakh there after
Maximum Sum Assured
No Limit (Subject to other conditions)
Guaranteed Additions
Rs 50 per 1000 Sum Assured for first 5 years. Rs 55 per 1000 Sum Assured for remaining premium paying term.
Survival Benefits
For 14 year policy: 30% of Basic Sum assured in 10th and 12th year. For 16 year policy: 35% of Basic Sum assured in 12th and 14th year. For 18 year policy: 40% of Basic Sum assured in 14th and 16th year. For 20 year policy: 45% of Basic Sum assured in 16th and 18th year
Riders Available
-
Accidental Death and Disability benefit (ADDB)
-
Policy Benefits
On Death
For first five years: Sum Assured of death + GA . Death after five years: Sum Assured on Death + Guaranteed additions + Loyalty additions(if any)
On Survival
Maturity Benefit: Remaining Sum Assured (After payment of survival benefits) + Guaranteed additions + Loyalty additions (if any)
On detection of Early Stage Cancer
-
On detection of Major Stage Cancer
-
Settlement Option
-
Multiple Allowed
-
Surrender Value
Policy can be surrendered at any time during the policy term provided at least 1 full year premium have been paid and one full year completed since inception of policy.
Loan
Loan can be availed at any time during the policy term provided at least 1 full year premium has been paid and one full year completed since inception of policy.
Income Tax Benefit
Premium paid under the policy is eligible for Tax rebate under section 80C. Maturity benefit under this policy is tax free under section 10 (10 D) of income tax act.
Proposal Form
Form No 300 for major lives and Form No 360 for minor lives.
| Product Summary | Jeevan Shiromani (947) is a non-linked with-profits, limited premium money back insurance plan specially designed and targeted for high networth individuals(HNIs). Minimum sum assured of the plan is restricted to 1 Crore. The plan also provided inbuilt critical illness rider for 10 lakhs. |
|---|---|
| Premium Payment Mode | Yearly, Half Yearly, Quartely, Monthly(SSS and NACH) |
| Annuity Mode | - |
| Optional Benefits | - |
| Term | 14/10, 16/12, 18/14 AND 20/16 years |
| Premium Paying Term | 14/10, 16/12, 18/14 AND 20/16 years |
| Minimum Age at Entry | 18 Years completed |
| Maximum Age at Entry | 55 years for term 14, 51 years for term 16, 48 years for term 18 and 45 year for term 20 |
| Annuity Options | - |
| Minimum Purchase Price | - |
| Deferment Period | - |
| Joint Annuity | - |
| Maximum Cover Ceasing Age | - |
| Maturity Age | - |
| Sum Assured | - |
| Maturity Benefit | - |
| Death Benefit | - |
| Minimum Basic Sum Assured | - |
| Minimum age at the end of Premium Paying Term | - | Maximum Maturity Age | 69 Years for term 14, 67 years for term 16, 66 years for term 18, 65 years for term 20 |
| Minimum Premium | - |
| Maximum Premium | |
| Minimum Basic Sum Assured | - |
| Sum Assured on Death | -. |
| Minimum Sum Assured | Rs 1 Crore and Multiple of 5 lakh there after |
| Maximum Sum Assured | No Limit (Subject to other conditions) |
| Guaranteed Additions | Rs 50 per 1000 Sum Assured for first 5 years. Rs 55 per 1000 Sum Assured for remaining premium paying term. |
| Survival Benefits | For 14 year policy: 30% of Basic Sum assured in 10th and 12th year. For 16 year policy: 35% of Basic Sum assured in 12th and 14th year. For 18 year policy: 40% of Basic Sum assured in 14th and 16th year. For 20 year policy: 45% of Basic Sum assured in 16th and 18th year |
| Riders Available | - |
| Accidental Death and Disability benefit (ADDB) | - |
| On Death | For first five years: Sum Assured of death + GA . Death after five years: Sum Assured on Death + Guaranteed additions + Loyalty additions(if any) |
|---|---|
| On Survival | Maturity Benefit: Remaining Sum Assured (After payment of survival benefits) + Guaranteed additions + Loyalty additions (if any) |
| On detection of Early Stage Cancer | - |
| On detection of Major Stage Cancer | - |
| Settlement Option | - |
| Multiple Allowed | - |
| Surrender Value | Policy can be surrendered at any time during the policy term provided at least 1 full year premium have been paid and one full year completed since inception of policy. |
| Loan | Loan can be availed at any time during the policy term provided at least 1 full year premium has been paid and one full year completed since inception of policy. |
| Income Tax Benefit | Premium paid under the policy is eligible for Tax rebate under section 80C. Maturity benefit under this policy is tax free under section 10 (10 D) of income tax act. |
| Proposal Form | Form No 300 for major lives and Form No 360 for minor lives. |
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