Endowment Plan

Nirdhakka Jeevan Beema is a Limited Payment Endowment Plan. Thus, it provides risk coverage as well as investment opportunity with premium payment limited to period less than the policy term. The insured may choose to pay premiums in numbers of years in multiple of 5, the payment term being at least 5 years less than the policy term.

1. Name and type of insurance :            Nirdhakka Jeevan Beema (Participating Limited)

Payment Endowment Assurance Plan

2. Age at Entry :               18 years to 65 years
3. Policy Term :               10 years to 25 years
4. Premium Paying Term :               5 years, 10 years, 15 years or 20 years
5. Maximum Maturity Age :               70 years
6. Minimum Sum Assured :               50,000.00 (Fifty Thousand)
7. Maximum Sum Assured :               250,000,000.00 (Two Hundred Fifty Million), (in

intervals of 10,000)

8. Mode of Premium Payment :              yearly, Half-yearly, Quarterly and Monthly
9. Benefits under this policy:
10. Full sum assured and accrued bonus for the whole policy term is payable on maturity if the policy remains in force and the insured survives till maturity date.
11. Full sum assured and accrued bonus is payable to the nominee upon death of insured within the policy term provided that the policy is in force.
12. The policy is eligible for loan or surrender upon payment of premiums for 3 full years and completion of 3 years. The paid-up calculation for calculating surrender value is done as per the approved method prescribed by Beema Pradhikaran. Loan up to 90 % of the surrender value can be availed.
13. Supplementary benefits:
    1. Accidental Death Benefit (ADB), Permanent Total Disability Benefit (PTD) and Premium Waiver Benefit (PWB) is available for full policy term, equal to sum assured but not more than 10,000,000 upon payment of additional premium.
    2. Critical Illness Benefit (CI) is available for full policy term, equal to sum assured but not more than 5,000,000 upon payment of additional premium.