About Jeevan Lakshaya
It is a limited premium paying term conventional With-Profit Endowment Assurance Plan where premium paying term is less than Policy Term by 3 years.
This plan provides Annual Income Benefit that may help to fulfill the needs of the family, primarily for the benefit of children, in case of unfortunate death of Policy holder any time before the maturity and lump sum amount at the time of Maturity irrespective of survival of the policy holder.
Eligibility Conditions
| Minimum age at entry | 18 Years (age on last birthday) |
| Maximum age at entry | 50 years (age on nearer birth day) |
| Maximum Maturity age | 65 years |
| Policy Term | 13-25 years |
| Premium Paying Term (PPT) | (Term-3) Years |
| Minimum Basic SA | 100000 |
| Maximum Basic SA | No Limit |
| Modes of payment | Yearly, Half Yearly, Quarterly & ECS |
| Mode rebate | Yearly: 2%, & on Half Yearly: 1% |
High Basic Sum Assured rebate
| Basic Sum Assured | Rebate |
|---|---|
| Accident & Term rider benefits are also available. | |
| 100000 to 190000 | Nil |
| 200000 to 490000 | Rs 2 per thousand on Basic SA |
| 500000 or above | Rs 3 per thousand on Basic SA |
Benefits of Jeevan Lakshaya
DEATH BENEFIT:
Sum Assured on Death: Where “Sum Assured on Death” is defined as the Sum of:
– Income Benefit equal to 10% of Basic Sum Assured payable from the Policy anniversary coinciding with or following the date of death of Life assured till the Policy anniversary prior to date of Maturity.
– Assured Absolute Amount equal to 110% of Basic Sum assured, which shall be payable on due date of Maturity, and Simple Reversionary Bonus + Final Additional Bonus, if any.
MATURITY BENEFIT:
Sum assured on Maturity: Basic Sum Assured + Vested Simple Reversionary Bonus + Final Additional Bones, if any.
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