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 |
|---|---|
| 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.
