Death benefit during deferment period under New Jeevan Suraksha -1 (T.147)

Death benefit during deferment period under New Jeevan Suraksha -1 (T.147)
and New Jeevan Dhara –1 (T.148)

This is further to our circular Ref: 1904/4 dated 27th September 2003 on the captioned subject.

In terms of the introductory circular Ref: Actl./1784/4 dated 23.01.2002 in respect of New Jeevan Suraksha -1 (T-147) and New Jeevan Dhara-1 (T-148) Plans, the rates of interest for accumulation of premiums for calculation of Death Benefit during deferment period under the said plans were reviewed again. It has been decided to apply different rates of interest for accumulation of premiums under regular premium policies and single premium policies as under :

A. Regular premium policies :
Rate of Interest for
Duration elapsed at death accumulation of premiums

1. Death during the first 10 policy years 3% p.a. compounding yearly
2. Death during 11-15 policy years 4% p.a. compounding yearly
3. Death during 16-20 policy years 4.5% p.a. compounding yearly
4. Death after 20 policy years 5% p.a. compounding yearly

1. Single premium policies :
Rate of Interest for
Duration elapsed at death accumulation of premiums

1. Death during the first 5 policy years 3% p.a. compounding yearly
2. Death during 6-10 policy years 4% p.a. compounding yearly
3. Death after 10 years 5% p.a. compounding yearly

The factors to be used for the above purpose are enclosed vide Annexures A to F to this Circular.

This supersedes our earlier circulars ref: Actl./1784/4 dated 23.01.2002 and 1904/4 dated 27.09.2003 in the matter.