This plan is suitable for a person who wants to provide funds for his/her daughter’s marriage or children higher education.
- Premium has to be paid for the fixed term of the Policy
- 25% of Sum assured is given every year during the last 4 years of maturity to the policy holder, if he is surviving. Otherwise, to the nominee if the Policyholder dies anytime during policy life or during the years before maturity
Maturity benefits: On maturity, Bonus on the full sum assured & final additional bonus if any is given along with the last 25% balance of Sum Assured,
Death benefits: Full Sum assured is immediately paid to the nominee if the policy holder dies during the policy term. Future premiums are waived. Further, 25% of Sum assured every year during the last 4 years of term will also be paid. Apart from this, at the end of the term, bonus for full term along with final additional bonus will be paid.
Examples:
Mr. Ramesh takes a Jeevan Chhaya Policy for 20 years for Rs. 1 lakh sum assured with double benefits.He appoints Mrs. pooja,his wife as appointee and nominates Kum. twinkle,his daughter aged 4 years, as nominee.
How to Apply this policy?
Refer About Me section on this page at the top right
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