Revision of Minimum Sum Assured and Minimum Premium Instalment
It has been decided to make the following changes in the Minimum Sum Assured, Minimum multiples of Sums Assured and the Minimum Premium Instalment under our plans:-
Increase in Minimum Sum Assured
The minimum Sum Assured under all Plans will be Rs.50,000 except New Jana Raksha Plan (Table No 91) where the present minimum Sum assured of Rs.30,000 shall remain unchanged. The minimum sum assured limits for other plans, where this is presently higher than Rs.50,000, will also remain unchanged.
Multiples of Sum Assured
Policies may be issued in multiples of Rs.5000, in excess of the minimum Sum Assured under all plans including New Jana Raksha Plan (Table No 91). For Plans where the present minimum Sum Assured multiple is higher than Rs.5000, there will be no change in the existing limit.
Minimum premium instalment
The minimum premium instalment will stand revised under different modes of premium as under:
Monthly / SSS : Rs.75
Quarterly : Rs.300
Half-yearly : Rs.600
Yearly : Rs.1200
The above changes come into effect from 1st June 2004. The cases introduced before 1st June 2004, which do not fulfill the above-mentioned conditions, may be completed latest by 30th June 2004.
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