Jeevan Bima Plan Benefits
Death Benefit:
Maturity Benefit:
Eligibility Conditions
| Minimum Basic Sum Assured | Rs. 5,00,000 | |
| Maximum Basic Sum (The Basic Sum Assured shall be in multiples of Rs. 50,000/-) | Rs. 25,00,000 per life basis | |
| Minimum Age at entry | 18 years (Last Birthday) | |
| Maximum Age at entry | 65 years (Last Birthday) | |
| Maximum Maturity Age | 70 years (Last Birthday) | |
| Policy Term Single/Regular/Limited Premium | No limit [5 to 40] years | |
Exclusion:
a) For Regular/Limited Premium Policies: If the Life Assured commits suicide within 12 months from the risk commencement date, provided the policy is active or within 12 months from revival, the policy becomes void. In such cases, the Corporation will not entertain any claim, except for a refund of 80% of the premiums paid (excluding any extra charges due to underwriting decisions and taxes).
This clause does not apply to lapsed policies as no payout is made.
b) For Single Premium Policies: If the Life Assured commits suicide within 12 months from the risk commencement date, the policy becomes void. In this case, the Corporation will not entertain any claim, except for a refund of 90% of the Single Premium paid (excluding any extra charges due to underwriting decisions and taxes).
