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Jivan Sanjivani(Whole Life Endowment)

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Jivan Sanjivani(Whole Life Endowment)

Salient Features :
  1. This policy will acquire paid-up value or surrender value.
  2. This policy will be eligible for loan after the payment of three annual installments and completion of three years.
  3. This Policy will have maturity value.
  4. This policy will participate in profits.
  5. Burden of frequently premium payment at several period of time can be minimized.
  6. Minimum age at entry : 11 years
  7. Maximum age at entry : 65 years
  8. Maximum Policy Maturity Age : 70 years
  9. Policy term : 5,10,15,20 or 25 years
  10. Minimum Sum Assured : Rs. 50,000
  11. Maximum Sum Assured : According to the financial condition of the life to be assured.
  12. Premium Paying Mode : Yearly, Half-yearly, Quarterly and Monthly.
Rebates of Sum Assured Amount
  1. SA Rs. 200,000 to Rs. 299,999 : Rs 1 in Basic Premium
  2. SA Rs. 300,000 onwards : Rs 2 in Basic Premium
Rebates on Mode of Payment
  1. Yearly : 2% Discount
  2. Half Yearly : 1% Discount
  3. Quarterly and SSS : Nil
  4. Monthly : Additional 5%
Survival Benefits(On Survival up to end of Premium Paying Term) :
Money Back Term Benefit as percentage of Sum Assured on SurvivalBenefits
(Years from Date of Commencement)
5 Years 3 Years 5 years
40% 60%+VB
10 Years 4 Years 8 Years 10 Years
30% 30% 40% +VB
15 Years 3 Years 6 Years 9 Years 12 Years 15 Years
20% 20% 20% 20% 20%+VB
20 Years 4 Years 8 Years 12 Years 16 Years 20 Years
15% 15% 15% 15% 40%+VB
25 Years 5 Years 10 Years 15 Years 20 Years 25 Years
15% 15% 15% 15% 40%+VB
Death Benefits:
  1. In case of death of the life assured any time after commencement of risk, full sum assured with the vested bonus will be paid.
Riders :
  1. ADB,ADB+PTD,ADB+PTD+PWB with additional tariff
Incase of minor child(Age from 11 to 14 years) below mentioned additional benefits are offered against optional benefit :
a. Premium Waiver Benefit-PWB
  1. In case of death or permanent and total disability due to accident of proposer, premium waiver benefit will be offered upto the child attaining age of 16 years or maturity of the policy, whichever is earlier.
Incase of minor child(Age from 11 to 14 years) below mentioned additional benefits are offered against optional benefit :
b. Monthly Income Benefit-MIB
  1. In case of death of proposer, 1% of basic sum assured is payable till the date of maturity of policy or child attaining age of 16 years, whichever is earlier.