Jeevan Tarun

Policy Details

Policy Type: Child Plan

Policy Information:

Policy Highlights:

• Minimum Basic Sum Assured: 75,000/-

• Maximum Basic Sum Assured: No Limit

• Policy Term: 25 – Age at entry of the child

• Premium Paying Term: 20 – Age at entry of the child

• Minimum Entry Age: 0 Year Last Birthday

• Maximum Entry Age: 12 Year Last Birthday

• Maximum Age at Maturity for Life Assured: 25 years

• Mode of Premium Payment: Yearly, Half-yearly, Quarterly & Monthly

Policy Benefits:

• On Death Before the Date of Commencement of Risk: An amount equal to the total amount of premium’s paid excluding taxes, extra premium and rider premium, if any shall be payable.

• On Death Before the Date of Commencement of Risk: “Sum Assured + Vested Bonus + FAB if any.”

• Where ‘S.A. on Death’ is defined as the higher of
i. 10 times of Anualized Premium, OR
ii. 105%of all Premiums paid as on death OR

• The premiums exclude taxes, extra premium and rider premiums.

• On Survival :

The option is chosen at the proposal stage. :

• Option-1: No Survival, Maturity Benefits 100% S.A.

• Option-2: 5% S.A. every year For 5 Years from age 20 to 24, Maturity Benefits 75% S.A.

• Option-3: 10% S.A. every year For 5 Years from age 20 to 24, Maturity Benefits 50% S.A.

• Option-4: 15% S.A. every year For 5 Years from age 20 to 24, Maturity Benefits 25% S.A.

• Surrendered Value: The Policy can be surrendered at any time during the policy term provided at least 3 full years premiums have been paid.

Loan on Policy:

• Loan Facility is available under this plan, after payment of premiums for at least 3 full years.

Income Tax Benefits:

• Premium paid under this plan is eligible for TAX rebate under section 80c.

• Maturity under this plan is free under sec 10(10D)