ENDOWMENT PLUS (TABLE 802 )

TABLE 802 ENDOWMENT PLUS

Details:

This is a unit linked Endowment Plan, which offers Investment cum Insurance during the term of the policy. Plan is available under Single premium as well as regular mode of premium.

Features & Conditions:

• Minimum age at entry : 7 years lbd
• Maximum age at entry : 60 years nbd
• Minimum Term : 10 years
• Maximum Term : 20 years.
• Minimum Maturity age : 18 years lbd Maximum Maturity age : 70 years nbd

Minimum Premium:

• Single Premium: 30,000
• Regular Premium: 20,000/- p.a. (other then monthly ECS)
• and in multiples of 1000/- thereafter.
• For monthly ECS: 1,750/- and in multiples
• of 250/- thereafter.

Maximum Premium:

Single Premium : No limit Regular Premium: ` 1,00,000


Minimum S.A.:

Single Premium:

Age at entry upto 44 yrs :1.25 times of SP.

Age at entry 45 to 60 yrs :1.10 times of SP.

Regular Premium:

(Policy Term +1) times of AP for all ages.


Maximum S.A. :

Single Premium, without CIR:

Age at maturity upto 65 yrs : 5 times of SP.

Age at maturity 66 to 70 yrs : 3 times of SP.

Single Premium, with CIR:

Age at maturity upto 55 yrs : 5 times of SP.

Age at maturity 56 to 60 yrs : 3 times of SP.

Regular Premium with or without CIR:

Age at entry upto 45 yrs : 30 times of AP.

Age at entry 46 to 60 yrs : 25 times of AP.

S.A should be in multiples of ` 5000 only.


Riders:

Accident Benefit : Available

Permanent Disability : Not Available Term Assurance Rider : Not Available Critical Illness Rider : Available Max 10 lacs


Loan Facility: Available after 3 years, Maximum 30% of Fund Value.

Housing Loan Collateral: Allowed

Mode of y:

Yly, Hly, Qly & Mly ECS.

Tax Benefits u/s 80C : u/s 10(10D)

On Premiums Maturity/Death claim

Underwriting Rules:

Non medical Schemes:

Without CIR : All Allowed including separate limits for Single Premium.

Non-Standard Age proof : Max .S.A.
	SP	AP
NSAP 1	5/3 times	30/25 times
NSAP 2	4/3 times	30/22 times
NSAP 3	4/3 times	Not Allowed

Female Lives : All Allowed

Minor lives : Max rated up S.A. inclusive of all plans Rs. 50 lacs for standard lives only. Sub standard lives at CUS with MM’s recommendation.

Sub Standard Lives: Regular Premium:

Restriction on Max S.A. in multiples of AP and Policy Term as per age at entry and EMR class.

Single Premium:

Restriction on Max S.A. in multiples of SP as per age at Maturity and EMR class.

Actual Sum Assured (ASA):

For Medicals , & Financial Underwriting:

Regular Premium : Basic S.A.

Single Premium : Basic S.A. less SP.

Occupation & Residence Extra:

1. For DAB while engaged in police duty: ` 0.25 per 1000 S.A. extra will be charged.


2. If standard extra is less then or equal to `5.00 per 1000, then sub standard lives upto EMR class II allowed.


3. If standard extra is above `5.00 per 1000, then only standard lives allowed.

NRI’s:

Group I & II: only under single premium. Group III to VIII: Allowed as per Rules.

Dating Back : Not Allowed

Proposal Form : Endowment Plus

For CIR: Only under Regular Mode

Non medical not allowed,

Only NSAP 1 allowed.

Not allowed to minors, female cat III & NRIs

Sub standard lives not allowed.

Other rules of CIR will be applicable.