Nava Ratna

Nava Ratna

Major Features of
Nava Ratna(Limited Payment Endowment)
Life Insurance Policy

Features of Joint Life Plus(Dampati Surakchha Plus)

1. Name of Life Insurance : Nava Ratna(Limited Payment Endowment) Life Insurance Policy
2. Participating/Non participating in Profit : This policy will participate in profit
3.Minimum Entry Age : 11 Years(Single premium paying Life Insurance Policy will not be issued for teenagers below 16 years)
4.Maximum Entry Age : 65 Years
5.Maximum Age of Maturity : 70 Years
6.Policy Term : 5,10,15,20,25 or 30 Years
7.Minimum Sum Assured : Rs.50,000/-
8.Maxmimum Sum Assured : Based on the earning/financial condition of proposer
9. Premium Paying Term :

Insurance Term Premium Paying Term
5 Years Single
10 Years 1 or 5 Years
15 Years 1,5, or 10 Years
20 Years 1,5, 10, or 15 Years
25 Years 1,5, 10,15 or 20 Years
30 Years 1,5, 10,15, 20 or 25 Years

 

10.Premium paying mode: Yearly, Half Yearly, Quarterly, Salary Saving Scheme(SSS) /Monthly

11. Rebate on the basis of Sum Assured:
Rebate on Large Sum Assured

Sum Assured Rebate
From Rs. 1,00,000/- to Rs. 1,99,000/- Re. 1 per thousand
Rs. 200,000 and above Rs. 2 per thousand

 


12. Rebate on the basis of premium payment method:

Mode Rebate
Yearly Payment 2 per cent
Half Yearly Payment 1 per cent
Quarterly or Salary Saving Scheme(SSS) No discount
Monthly Premium Payment 5 Per cent Additional

 

13.Terms and Conditions of Payment :

Either survival of the life insured till the of maturity period or death of life insured before the maturity period, Sum assured and bonus will be paid.

14.The below mentioned Optional Rider is available with this policy:

a) Accidental Death Benefit(ADB)
b) Accidental Death Benefit(ADB)+Permanent Total Disable(PTD)
c)Accidental Death Benefit(ADB)+Permanent Total Disable(PTD) and Premium Waiver
Benefit(PWB)

First Policy Issued Date: 29th April 2018
* Terms and Conditions will be applicable.

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