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A. Endowment Plans


1.New Jeevan Anand (Table No 815) (Tax Saving Plan u/c 80c)
New Jeevan Anand is a Profit Assurance non-linked whole life plan.
  • Maturity Benefit: Sum Assured (SA) + Bonus + Final Additional Bonus (FAB), if any. Insurance cover continues lifelong.
  • Death Benefit: During Policy Term- SA + Bonus + FAB, if any shall be payable, where SA is 125% of basic sum assured or 10 times of annualized premium.
Death benefit shall not be less than 105% of total premiums paid as on the date of death. After Premium paying term: Sum Assured Double accident benefit rider available. Loan against policy after 3 premium paying years.

How this plan works (Sample Illustration for age 30 and term 25 years)
 

Eligibility Criteria
  Min Max
Age 18 50
Term 15 35
Modes Yearly, Half Yearly, Quarterly, Monthly

T and C apply

*(SA-sum assured, FAB-final additional bonus)

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2.New ENDOWMENT Plan (Table No 814) (Tax Saving Plan u/c 80c)
A conventional non-linked with profit plan.
  • Maturity Benefit: Basic Sum Assured (SA) + Bonus + Final Additional Bonus (FAB), if any.
  • Death Benefit: SA + Bonus + FAB, if any.
The death benefit as defined shall not less than 105% of total premiums paid as on the date of death. Double accident benefit rider available. Loan against policy after 3 premium paying years.

How this plan works (Sample Illustration for age 30 and term 25 years)

 
Eligibility Criteria
  Min Max
Age 18 55
Term 12 35
Modes Yearly, Half Yearly, Quarterly, Monthly

T and C apply

*(SA-sum assured, FAB-final additional bonus)

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3.New Money Back Plan 25 Years ( Table No 821) (Tax Saving Plan u/c 80c)
A non-linked with profits with limited premium payment option.
  • Maturity & Survival Benefit: 15% of Basic sum Assured at the end of every 5th, 10th, 15th & 20th policy year. On 25th year, on maturity 40% of SA + Bonus + FAB.
  • Death Benefit:SA + Bonus + FAB, if any.
The death benefit as defined shall not less than 105% of total premiums paid as on the date of death. Double accident benefit rider available. Loan against policy after 3 premium paying years.

How this plan works (Sample Illustration for age 30 and term 25 years) (e.g.: SA-10 Lakhs)




Eligibility Criteria
  Min Max
Age 13 45
Term 25  
Modes Yearly, Half Yearly, Quarterly, Monthly

T and C apply

*(SA-sum assured, FAB-final additional bonus)

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4.New Money Back Plan 20 Years (Table No 820) (Tax Saving Plan u/c 80c)
A non-linked with profits with limited premium payment option.
  • Maturity & Survival Benefit: 20% of Basic sum Assured at the end of every 5th, 10th, & 15th policy year. On 20th year, on maturity 40% of SA + Bonus + FAB.
  • Death Benefit:SA + Bonus + FAB, if any
The death benefit as defined shall not less than 105% of total premiums paid as on the date of death. Double accident benefit rider available. Loan against policy after 3 premium paying years.

How this plan works (Sample Illustration for age 30 and term 25 years) (e.g.: SA-10 Lakhs)


 

Eligibility Criteria
  Min Max
Age 13 50
Term 20  
Modes Yearly, Half Yearly, Quarterly, Monthly

T and C apply

*(SA-sum assured, FAB-final additional bonus)

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5.Jeevan Rakshak Plan (Table No 827) (Tax Saving Plan u/c 80c)
It’s a regular premium paying non-linked with profit, Endowment Assurance Plan. This plan is available to standard lives only under non-medical limit and total sum assured under all the policies issued to an individual under this plan shall not exceed Rs 2 Lacs..
Benefit payable on death: Sum Assured (SA) shall be payable, which is the highest of following;
  • Basic Sum Assured,
  • 10 times of premium paid,
  • • 105% of the premium paid as the date of death.
Benefit payable on maturity: Basic Sum Assured + Loyalty Addition, if any shall be payable.
Eligibility Criteria
  Min Max
Age 8 58
Term 10 20;
Sum Assured 75000 75000
Modes Yearly, Half Yearly, Quarterly, Monthly

T and C apply



*(SA-sum assured, FAB-final additional)
 


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B Term Insurance Plan

1.Amulya Jeevan II (Tax Saving Plan u/c 80c)

It’s a regular premium paying conventional without profit pure protection plan. This plan provides financial protection to the insured family in case of his/her unfortunate death. This protection plan covers any type of death i.e. Natural or Accidental. Minimum Sum Assured is Rs 25,00,000/-.

Eligibility Criteria
  Min Max
Age 18 60
Max Cover Up to Age 70 Years
Sum Assured 2500000 No limit
Modes Yearly, Half Yearly, Quarterly, Monthly

T and C apply

*(SA-sum assured, FAB-final additional)


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2.Anmol Jeevan II (Tax Saving Plan u/c 80c)

It’s a regular premium paying conventional without profit pure protection plan. This plan provides financial protection to the insured family in case of his/her unfortunate death. This protection plan covers any type of death i.e. Natural or Accidental. Minimum Sum Assured is Rs 600,000/-.
Eligibility Criteria
  Min Max
Age 18 55
Max Cover Up to Age 65 Years
Sum Assured 600000 2400000
Modes Yearly, Half Yearly, Quarterly, Monthly

T and C apply

*(SA-sum assured, FAB-final additional)


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C Single Premium Insurance Plan


1.New Bima Bachat Plan (Table No 816)
One Time Investment- Single Premium Plan
  • Maturity & Survival Benefit 15% of SA shall be payable every 3 years. On maturity Single Premium paid along with loyalty addition, if any.
  • Death Benefit: First Five Years: SA shall be payable After completion of five years: SA + Loyalty Addition if any shall be payable
    Loan facility available after completion of one policy year.
How this plan works (Sample Illustration for age 30 and term 15 years, SA 10 lacs)

Eligibility Criteria
  Min Max
Age 15 75
Term 9,12,15
Sum Assured 35000 No limit
Modes Yearly, Half Yearly, Quarterly, Monthly

T and C apply

*(SA-sum assured, FAB-final additional)

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2.Single Premium Endowment Plan (Table No 817)
Singe Premium with profit endowment plan.
This plan can be purchased on the name of GRAND CHILD by grandparents/ parents.
  • Maturity Benefit: SA + Bonus + FAB, if any.
  • Death Benefit:: On death of life assured or after the commencement of risk: SA + Bonus + FAB, if any shall be payable.
    On death of the life assured before on the commencement of risk: Return of single premium excluding taxes.
Loan facility available after completion of one policy year.
Loan available after completion of one year.


Eligibility Criteria
  Min Max
Age 90 Days 65
Term 10 25
Sum Assured 5000 No limit
Modes Single

T and C apply

*(SA-sum assured, FAB-final additional)


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D Health Plan


1 Jeevan Arogya (Table No 904) (Tax Saving u/s 80D)
Jeevan Arogya is a unique non participating non-linked health plan.
It gives financial protection in case of hospitalization, surgery etc.
Increasing health cover every year.
Lump sum benefit irrespective of hospitalization cost.
Flexible premium paying options
Benefits offered:
  • Hospital Cash Benefit (HCB)
  • Major Surgical Benefit (MSB)
  • Day Care procedure
  • Other Surgical Benefit
  • Ambulance Benefit
  • Premium Waver Benefit (PWB)
Eligibility Criteria
  Min Max
Age 18 65
Maximum Cover Ceasing Age 80 Years
Term 15 62
Sum Assured 5000 No limit
Modes Yearly, Half Yearly

T and C apply



*(SA-sum assured, FAB-final additional)


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E Pension Plan


1.New Jeevan Nidhi Plan (Table No 818)
New Jeevan Nidhi is a conventional with profit pension plan. Death Benefit:
  • Death during first five years: SA + accrued guaranteed addition shall be paid as lump sum or in the form of an annuity or partly lump sum and balance in the form of annuity to the nominee at the then prevailing annuity rate.
  • Death after first five policy years: SA + accrued guaranteed addition + Bonus + FAB if any be paid as lump sum or in the form of an annuity or partly lump sum and balance in the form of annuity to the nominee at the then prevailing annuity rate.
  • Benefit on vesting: An amount equal to Basic Sum Assured accrued with guaranteed additions + Bonus + FAB if any, shall be made available to the Life Assured. Life Assured can utilize following options:
    • To purchase an annuity: Commute the amount available on vesting/surrender to the extent allowed under Income Tax Act. The entire amount available on vesting/surrender or the balance amount after commutation shall be utilize to purchase immediate annuity at the then prevailing annuity rate. Commutation shall be allowed provided the balance amount is insufficient to purchase minimum annuity as per Insurance Act, then the said amount shall be paid in lump sum to life assured.
    • To purchase a new single premium deferred pension plan from LIC: Under this option entire amount available on vesting/surrender shall be utilize to purchase a new single premium deferred pension plan from LIC. The Life Assured will have to intimate to corporation six months prior to vesting/ surrender.
How this plan works (Sample Illustration for age 35 and term 25 years)


 
Eligibility Criteria
  Min Max
Age 20 60-Single Premium 58-Regular Premium
Term 5-Single Premium, 7-Regular Premium 25
Modes Yearly, Half Yearly, Quarterly, Monthly

T and C apply

*(SA-sum assured, FAB-final additional)

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2.Jeevan Akshay VI (Table No 189)

Immediate Annuity Plan- Annuity (Pension) Starts immediately from next month. Pay once- get pension lifelong. Types of annuity (Pension) available.
  • Annuity for life.
  • Annuity guaranteed for 5, 10, 15 or 20 years and for life thereafter.
  • Annuity with return of purchase price.
  • Annuity for life increasing at a simple rate of 3% per annum.
  • Annuity for life with provision for 50% of the annuity to the spouse of the annuitant for life on death of the annuitant.
  • Annuity for life with provision for 100% of the annuity to the spouse of the annuitant for life on death of the annuitant.
  • Annuity for life with provision for 100% of the annuity payable to the spouse on death of the annuitant with return of purchase price on death of the last survivor.


Eligibility Criteria
  Min Max
Age 30 85
Modes Single

T and C apply

*(SA-sum assured, FAB-final additional)




 


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3.Varishtha Pension Yojana

Launched for the period 15th August 2014 to 14th August 2015.
Available to citizens 60 years and above.
Pension payable lifelong to the pensioner immediately from next month onwards. On the death of
pensioner, purchased price shall be refunded to nominee.
Pension available on immediate basis on monthly, quarterly, half yearly and yearly mode, minimum Rs 500/- to maximum Rs 5000/-.
An assured return of 9% on monthly basis, which amounts to 9.38% annulized return.
Loan: up to 75% of subscribed amount can be availed after 3 years from the date of commence ment.


Eligibility Criteria
  Min Max
Age 60 No Limit
Pension per month 500 5000
Pension per year 6000 60000

T and C apply

*(SA-sum assured, FAB-final additional)