Jeevan Vishwas

Jeevan Vishwas

Table No. 136

(Annuity Plan for Handicapped)

Jeevan Vishwas is a plan specifically for handicapped dependants. The proposer of this plan must be a relative of the life assured.

Benefits:

Maturity Benefits

Sum Assured + Guaranteed Additions + Loyalty Addition, if any

Death Benefits

Sum Assured + Guaranteed Additions + Loyalty Addition, if any will be paid to the Handicapped

Dependent.

Mode of payment of Benefit

20% of Notional Sum Assured (Sum Assured + Guaranteed Additions + Loyalty Addition, if any) will be paid at maturity. Balance 80% will compulsory be utilised to provide an immediate annuity on Handicapped Dependent’s life.

The Annuity is payable in any of the following options:

1) Annuity for life, 2) Annuity certain for 5 or 10 years and for life thereafter

3) Annuity for life with return of Notional Purchase Price (ie. 80% of the total Basic Sum Assured + Guaranteed Additions + Loyalty Additions, if any)

Mode Benefit:

The following table shows the rebate available on the mode of premium payment.

Sum Assured	Rebate for Annual	Rebate for Annual
	Premium Policies	Premium Policies
1,00,000-2,49,999	Rs. 1 Per Thousand	Nil
2,50,000-4,99,999	Rs. 2 Per Thousand	Nil
5,00,000-19,99,999	Rs. 3 Per Thousand	Rs. 1 Per Thousand
20,00,000-49,99,999	Rs. 4 Per Thousand	Rs. 1 Per Thousand
50,00,000-Above	Rs. 5 Per Thousand	Rs. 2 Per Thousand

Features:

ü Minimum Age at entry of Proposer : 20 yrs (Near Birthday)

ü Maximum Age at entry of Proposer : 65 yrs (Near Birthday)

ü Maximum Age at maturity : 75 yrs (Near Birthday)

ü Maximum Premium Paying Term : 25 yrs

ü Minimum Policy Term : 10 yrs

ü Maximum Policy Term : 40 yrs

ü Minimum Sum Assured : Rs. 50,000 And in multilples of 25,000 thereafter

ü Maximum Sum Assured : Any Amount

ü Modes of Premium : Yearly, Halfly, Quarterly, Single Premium

ü No Loan facility

ü Back-dating is allowed within the same financial year at 12% interest p.a. No waiver of interest.

ü Accident Benefit is allowed under Annual Premium policy.