Plannig to invest under Jeevan Tarang

What do I receive, if I survive the policy term I have chosen and kept the policy in force ?

You will receive Bonus accrued on the full sum insured for the full policy term you have chosen + Annual Installment @ 5.5% of the sum insured starting from second year after completion of the policy term chosen, for rest of your life.

What does my nominee get if I am no more before completion of the policy term I have chosen but kept the policy in force as on the day of my expiry ?

Sum Insured + Bonus accrued on the full insured amount for the full policy term chosen.

Is there any provision for funds during currency of the plan ?

Yes, by way of loan against surrender value after 3 years' premia have been paid at 9% simple interest per annum.

What does my nominee get if I am no more after completion of the policy term I have chosen but kept the policy in force as on the day of my expiry ?

Sum Insured + Loyalty Addition, if any.

How long I need to pay premium ?

Completion of the policy term chosen or death, should it occur earlier.

What, if I meet with fatal accident during currency of my Jeevan Tarang Plan?

Your nominee will receive an additional amount equivalent to the basic sum insured but not exceeding Rs 50,00,000 along with the policy proceeds, provided you have got Accident Benefit included in the policy by payment of additional premium.

What, if I meet with an accident and become Totally and Permanently Disabled during the currency of my Jeevan Tarang Plan?

You need not pay further premium + You will receive an additional amount equivalent to the basic isum nsured amount but not exceeding Rs 50,00,000 in monthly installments spread over next 10 years from the date of disablement, if you have Accident and Disability Rider included in your policy +All other benefits under the plan.

Can I increase my life insurance coverage ?

Yes, upto a maximum of additional Rs 25 Lakhs, provided, you have included Term Rider by payment of additional premium.

Can I cover onset of some diseases ?

No

Can I get any personal loan?

Yes, after 3 years' premia have been paid-depending on the surrender value, at 9% per annum simple interest.

Can I use Jeevan Tarang as Collateral Security for availing Housing Loan ?

Yes

What are the premium payment terms available to me under this plan ?

10,15 and 20 Years.

What are the various premium payment options available to me ?

Single, Yearly, Half-yearly, Quarterly and Monthly with 5% more.

Can I get any I.T benefit on the premium I pay ?

Yes, under section 80C of the I.T Act within Rs 1,00,000/- cap allowed for all savings covered in the section.

Is there any I.T liability on the policy proceeds received on maturity/death ?

In case of policies issued prior to 01/04/2003, Policy proceeds received by way of maturity or death are free from income-tax under Section 10(10D) of the Income-Tax Act, whatever be the accumulated bonus. In case of policies issued after 01/04/2003, if the premium paid in any year exceeds 20% of the capital sum insured, all amounts received less of the total premiums paid are subject to Income-tax in the year of receipt.

What is so special about Jeevan Tarang?

Jeevan Tarang is a permanent life insurance plan like Jeevan Anand. It offers permanent financial security to your nominee in your absence, whenever it takes place.

You are guaranteed of a regular Annuity for rest of your life (ceasing at 100) at the same rate irrespective of the market fluctuation in interest rates to take care of your various financial requirements during your old age. Your nominee under this plan is always assured of the full sum insured without any deduction towards the annual installments paid to you.

Unlike other pension plans where Annuity installments received are subject to income-tax, installments received under Jeevan Tarang are not deemed as 'salary'. As such, there is no Income-tax liability on these installments. In otherwords, you are assured of a tax-free returns @ 5.5% P.A for rest of your life once you survive the policy term you have chosen.

You can derive an additional income on the Bonus that you receive on surviving the policy term you have chosen. All these benefits viz., additional income possibility on the Bonus + tax-free 5.5% you will be getting every year + Section 80C benefit on the premium you pay + permanent life insurance coverage offered under the plan, makes Jeevan Tarang one of the best investment plans available right now.

Am I eligible to invest under Jeevan Tarang ?

Yes, if you are in the age group of 0-60 years,