Asian Karja Surachha (Term) Life Insurance
Salient Features :
- Minimum age at entry: 18 Years
- Maximum age at entry: 64 Years
- Maximum Policy Maturity Age: 65 Years
- Policy Term: 1 to 15 Years
- Minimum Sum Assured: Rs. 10,000
- Maximum Sum Assured: Rs. 20,00,000
- Premium Paying Mode: Single
Terms of Payment :
- a. Sum Assured will be paid incase of death of Life Insured within policy term.
- b. No amount will be paid incase of survival of Life Insured till the date of maturity.
Surrender Value and Loan :
No surrender Value or Loan will be provided against this policy. Features of Asian Karja Surachha (Term) Life Insurance
- 7. The plan is suitable for the loanee of any financial institute. This plan provides risk coverage against the death of a loanee. It helps the financial institute (bank, finance, microfinance, cooperative, hire purchase company) to recover loan without the sale of collateral.
- 8. Terms & Conditions of payment:
- A) Within maturity period:
- i) Incase of natural death, sum assured and cremation expenses will be paid:
“Cremation Expenses” either 25 percent of Sum Assured or 30 percent whichever is lower will be paid.
- ii) Incase of accidental death, Double of Sum Assured will be paid.
- iii) Incase of permanent disability due to accident:
- Loss of vision of both eyes(Complete blindness),
- Loss of both hand above wrist,
- Loss of both leg above ankle,
- Loss of one hand and loss of one leg above ankle
- iv) Incase of partial disability as mentioned below due to accident 50 percent of Sum Assured will be paid:
- Loss of one hand above wrist
- Loss of one leg above ankle
- Loss of one eye sight.
- Loss of speech or hearing.
- After the claim payment on any one of above conditions, no other payment will be made.
- B) No payment will be made incase of survival of life insured till maturity.
- C) Surrender value and loan: No surrender value or loan will be available under this plan.
- First policy issued date: 2077/07/06