Plan Features
Saral Jeevan Bima (859)
Product Summary
Saral Jeevan Bima (859) is a Non-Linked, non participating, pure protection plan with minimum Sum Assured of 5,00,000 and maximum Sum Assured 25,00,000. Three premium options are available- Regular premium, Limited premium and Single Premium.
Premium Payment Mode
Regular premium, Single premium or Limited premium(5 years and 10 years PPT).
Annuity Mode
-
Optional Benefits
-
Term
5 to 40 Years
Premium Paying Term
Regular premium: Same as policy term. Limited Premium (5 Years and 10 Years). Single premium - one time lumpsum payment.
Minimum Age at Entry
18 Years (Last Birthday)
Maximum Age at Entry
65 Years (Last Birthday)
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
-
Minimum Premium
-
Maximum Premium
Minimum Basic Sum Assured
-
Sum Assured on Death
-
Minimum Sum Assured
Rs. 5,00,000
Maximum Sum Assured
Rs. 25,00,000
Guaranteed Additions
-
Survival Benefits
-
Riders Available
Nil
Accidental Death and Disability benefit (ADDB)
Not available
Policy Benefits
On Death
For regular premium and limited premium payment policy, Sum Assured on death is defined as the highest of 1. Ten times of annualized premium; or 2. Hundred and five percent of all the premium paid as on the date of death; or 3. the absolute amount assured to be paid on death. For Single premium policies, Sum Issued on death shall be the higher of (1) 125% of single premium or (2) 100% of basic Sum Assured. (45 days waiting period will be applicable from the date of commencement of risk and premium paid will be returned unless the death happens due to accident in this period)
On Survival
Noting is payable on survival as it is a pure term plan.
On detection of Early Stage Cancer
-
On detection of Major Stage Cancer
-
Settlement Option
-
Multiple Allowed
-
Surrender Value
No surrender value will be avialable under this plan.
Loan
No Loan available
Income Tax Benefit
Premium under this plan is eligible for tax benefit under section 80C of income tax act.
Proposal Form
Form No 300 and 340
| Product Summary | Saral Jeevan Bima (859) is a Non-Linked, non participating, pure protection plan with minimum Sum Assured of 5,00,000 and maximum Sum Assured 25,00,000. Three premium options are available- Regular premium, Limited premium and Single Premium. |
|---|---|
| Premium Payment Mode | Regular premium, Single premium or Limited premium(5 years and 10 years PPT). |
| Annuity Mode | - |
| Optional Benefits | - |
| Term | 5 to 40 Years |
| Premium Paying Term | Regular premium: Same as policy term. Limited Premium (5 Years and 10 Years). Single premium - one time lumpsum payment. |
| Minimum Age at Entry | 18 Years (Last Birthday) |
| Maximum Age at Entry | 65 Years (Last Birthday) |
| 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 | - |
| Minimum Premium | - |
| Maximum Premium | |
| Minimum Basic Sum Assured | - |
| Sum Assured on Death | - |
| Minimum Sum Assured | Rs. 5,00,000 |
| Maximum Sum Assured | Rs. 25,00,000 |
| Guaranteed Additions | - |
| Survival Benefits | - |
| Riders Available | Nil |
| Accidental Death and Disability benefit (ADDB) | Not available |
| On Death | For regular premium and limited premium payment policy, Sum Assured on death is defined as the highest of 1. Ten times of annualized premium; or 2. Hundred and five percent of all the premium paid as on the date of death; or 3. the absolute amount assured to be paid on death. For Single premium policies, Sum Issued on death shall be the higher of (1) 125% of single premium or (2) 100% of basic Sum Assured. (45 days waiting period will be applicable from the date of commencement of risk and premium paid will be returned unless the death happens due to accident in this period) |
|---|---|
| On Survival | Noting is payable on survival as it is a pure term plan. |
| On detection of Early Stage Cancer | - |
| On detection of Major Stage Cancer | - |
| Settlement Option | - |
| Multiple Allowed | - |
| Surrender Value | No surrender value will be avialable under this plan. |
| Loan | No Loan available |
| Income Tax Benefit | Premium under this plan is eligible for tax benefit under section 80C of income tax act. |
| Proposal Form | Form No 300 and 340 |
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