Jeevan Vishwas (Plan No. 136) is an Endowment Assurance plan designed for the benefit of handicapped dependents.
Premiums: Premiums are payable quarterly, half-yearly or yearly throughout the term of the policy or till the earlier death. Alternatively, the premium may be paid in one lump sum (single premium).
Guaranteed Additions : The policy provides for the Guaranteed additions at the rate of Rs.60 per thousand Sum Assured for each completed policy year while the policy is in full force. The Guaranteed Additions are payable at the end of the policy term or on earlier death.
Loyalty Additions: This is a with-profit plan and participates in the profits of the Corporation’s life insurance business. It gets a share of the profits in the form of loyalty additions which are terminal bonuses payable along with death or maturity benefit. Loyalty addition may be payable from fifth year onwards depending on the experience of the Corporation.
JEEVAN VISHWAS is a special plan for handicapped persons. Unlike Jeevan Aadhar, which is a Whole Life Plan, this is an Endowment Assurance plan with benefits payable either on date of maturity or on death, whichever is earlier.
Salient Features : Basic sum assured payable either on survival to the term or on death happening within the term. Payment of benefits will be on the basis of 20% as a lump sum and balance 80% to secure an annuity.
Guaranteed Additions are given at a fixed rate of Rs.60/- per Rs.1000- sum assured.
Loyalty Additions are payable for each completed policy year.
Premium paying terms are between 10 to 25 years.
Single Premium available.
Benefits: On the Date of Maturity or earlier death during the term (of life assured):
Basic sum assured + Guaranteed additions of Rs.60/- per Rs.1000/- sum assured + Loyalty Addition on the basis of performance of the LIC.
Once the claim is admitted, there are three options available:
Regular income for life.
Regular income certain for 5, or 10 or 15 years and life thereafter.
Regular income for life with return of notional purchase price i.e. 80% of basic sum assured + 80% of guaranteed additions and loyalty additions.
Handicapped dependant pre-deceasing the life assured:
In the event of the handicapped dependant pre-deceasing the life assured, the life assured has the option to:
Surrender the policy or continue it by paying premium.
Life assured also has option to receive full sum assured in lump sum or on a 20% to 80% basis.
Accident benefits if availed are paid as lump sum as per Accident benefit rules.
Restrictions: Minimum sum assured : Rs.50,000/- in multiple of Rs.25,000/- thereafter
Maximum sum assured : No limit
Minimum age at entry : 20 years completed
Maximum age at entry : 65 years
Maximum age at maturity : 75 years
Premium paying term : 25 years
Minimum Term : 10 years
Maximum Term : 40 years
Minimum premium must be Rs.800/- p.a.
No Loan available against this policy.
Premiums: Premiums are payable quarterly, half-yearly or yearly throughout the term of the policy or till the earlier death. Alternatively, the premium may be paid in one lump sum (single premium).
Guaranteed Additions : The policy provides for the Guaranteed additions at the rate of Rs.60 per thousand Sum Assured for each completed policy year while the policy is in full force. The Guaranteed Additions are payable at the end of the policy term or on earlier death.
Loyalty Additions: This is a with-profit plan and participates in the profits of the Corporation’s life insurance business. It gets a share of the profits in the form of loyalty additions which are terminal bonuses payable along with death or maturity benefit. Loyalty addition may be payable from fifth year onwards depending on the experience of the Corporation.
JEEVAN VISHWAS is a special plan for handicapped persons. Unlike Jeevan Aadhar, which is a Whole Life Plan, this is an Endowment Assurance plan with benefits payable either on date of maturity or on death, whichever is earlier.
Salient Features : Basic sum assured payable either on survival to the term or on death happening within the term. Payment of benefits will be on the basis of 20% as a lump sum and balance 80% to secure an annuity.
Guaranteed Additions are given at a fixed rate of Rs.60/- per Rs.1000- sum assured.
Loyalty Additions are payable for each completed policy year.
Premium paying terms are between 10 to 25 years.
Single Premium available.
Benefits: On the Date of Maturity or earlier death during the term (of life assured):
Basic sum assured + Guaranteed additions of Rs.60/- per Rs.1000/- sum assured + Loyalty Addition on the basis of performance of the LIC.
Once the claim is admitted, there are three options available:
Regular income for life.
Regular income certain for 5, or 10 or 15 years and life thereafter.
Regular income for life with return of notional purchase price i.e. 80% of basic sum assured + 80% of guaranteed additions and loyalty additions.
Handicapped dependant pre-deceasing the life assured:
In the event of the handicapped dependant pre-deceasing the life assured, the life assured has the option to:
Surrender the policy or continue it by paying premium.
Life assured also has option to receive full sum assured in lump sum or on a 20% to 80% basis.
Accident benefits if availed are paid as lump sum as per Accident benefit rules.
Restrictions: Minimum sum assured : Rs.50,000/- in multiple of Rs.25,000/- thereafter
Maximum sum assured : No limit
Minimum age at entry : 20 years completed
Maximum age at entry : 65 years
Maximum age at maturity : 75 years
Premium paying term : 25 years
Minimum Term : 10 years
Maximum Term : 40 years
Minimum premium must be Rs.800/- p.a.
No Loan available against this policy.
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