Jeevan Rakshak Plan

1. Jeevan
Rakshak Plan No.827

2. Jeevan Rakshak
Plan No.827

3. This is a regular premium,non-linked,with profit Endowment
Assurance Plan, This Plan shall be allowed to standard
lives only under Non-Medical limits.
Jeevan Rakshak
Plan No.827

4. DEATH BENEFITS:-
First 5 years of Policy :- Sum Assured on Death.
6th
year onwards :- Sum Assured on Death + Loyalty Additions if any.
Sum Assured on Death = Higher of Basic SA or times of annualized
Premium or 105 % of total premiums paid as on date of death.The
premium excludes extra premium and rider premiums.
Jeevan Rakshak
Plan No.827

5. MATURITY BENEFITS:
Basic Sum Assured + Loyalty Additions if any
Jeevan Rakshak
Plan No.827

6. ACCIDENT BENEFIT RIDER:
Accident benefit rider available premium Rs. 0.50 per thousand S.A. for
all except for Police personal premium Rs. 1.00 per thousand S.A.
Jeevan Rakshak
Plan No.827

7. Jeevan Rakshak
Plan No.827

8. Jeevan Rakshak
Plan No.827

9. GRACE PERIOD FOR PAYMENT OF PREMIUM:
A grace period of one calender month but not less than 30 days for
mode Yly,Hly or Qly and 15 days for monthly mode of premium
payment
Jeevan Rakshak
Plan No.827

11. Total first year commission :-
15 % + 6% = 21 %
18.75 % + 7.5% = 26.25 %
Jeevan Rakshak
Plan No.827

12. LOAN & SURRENDER
• LOAN:
• Available after payment of 3 annual premiums. 70% loan in inforce
policies, and 60 % in paid up policies.
• SURRENDER:
• Policies can be surrendered anytime during the policy term provided
at least 3 full years premiums are paid.(No loyalty addition will be
paid)

13. Jeevan Rakshak
Plan No.827

14. Jeevan Rakshak
Plan No.827

16. Service Tax:>
1st
year of policy :- 3.09 %
2nd
year onwards :- 1.545 %
Jeevan Rakshak
Plan No.827

17. BACK-DATING INTEREST:
Allowed with lean months benefits
Jeevan Rakshak
Plan No.827

18. Underwriting Rules:
 Non –Medical Scheme:- Standalone S.A. over and above other
Scheme.
Note :This is a standalone Plan,not to be clubbed with any other Plan
for SUC/Max. Insurance allowed under any category of lives.
Age NBD Std &
NSAP-1
NSAP-2 NSAP-3
18-35 2.00 lacs 2.00 lacs 2.00 lacs
36-45 2.00 lacs 2 .00 lacs 1.50 lacs
46-55 2.00 lacs 1.25 lacs 1.25 lacs

19. Underwriting Rules:
 Non-Standard Age Proofs: All allowed. Extra is to be charged under
NSAP-II & NSAP-III
 Female lives: All allowed.
* Pregnant ladies not allowed.
* Housewives : allowed without matching Insurance of Husband.
* Single women / literate widows with or without minor/major
children with income allowed upto max. age at entry 55 years.
 Minor /Major students :
Allowed to school going and standard lives only. School age proof
must.
 Separate proposal forms for minor and major lives.

20. Tax Benefits:
On Basic Premium : u/s 80C
Maturity /Death Benefit : u/s 10(10D)
Jeevan Rakshak
Plan No.827