Features of Plan:
Jeevan surabhi plan is similar to the other money back
plan. However main differences in regular money back
plan and jeevan surabhi are: maturity term is more then
premium paying term, early and higher rate of survival
benefit payment risk cover increases every five years.
This plan is suitable for businessmen & professionals,
who benefits at periodical intervals this plan is not
allowed when occupational extra is chargeable and pregnant
Full S.A. is paid back as survival benefit by the end
of premium Paying term In profits till the end of policy
Age at entry: Min. 14 yrs, LBD Max. 55/50/45
Maturity age: Max. 70 yrs.
Sum assured: Min. 50,000, Max. No. Limit
S.A. in multiples: 5000
Term: Min.15/20/25 yrs, Max.15/20/25 yrs
Mode of payment: YLY/HLY/QLY/SSS/MLY
Accident benefit: Re. 1 Extra per
(Max. 50 Lac inclusive 1000 S.A.
Policy loan: yes
Housing loan: yes
Surrender of policy: yes
Term rider: N.A.
Form no.: 300/340
Age proof: std/NSAP-1
Female lives category: I/II/III
Non-medical (Gen): Allowed
Non-medical (proof): Allowed
Non-medical (special): Allowed
Actual sum assured: Basic SA
Risk coverage: SA + Bonus
Dating back @ 8%: Allowed
Survival benefit: Following survival benefit
are paid provided policy is in full force for full S.A.
If death occurs at anytime during the term of a policy
(provided the policy has been kept in force by payment
of all premiums that had fallen due), the amount (as
per table below) along with vested bonus is payable.
The survival benefit already paid if any, will not be
deducted from this claim amount.
Example: Mr. Ajay Devgan aged 30 yrs. Takes a
jeevan surabhi (with profit) policy term being 15 years
and S.A. Rs.2 lac. He pays an annual premium of Rs.21,344/-
after 4 and 8 years each he receives Rs.60,000 respectively
again 12 years he will get Rs.80,000/-
In case Mr. Ajay Devgan expires during the 9th year
of the policy, his nominee Mrs. Kajol will receive 1.5
times of S.A. i. e. Rs.3 lac + bonus as per 2005 rates
i.e. Rs.35 per thousand per annum for 9 years i.e. 35
x 200 x 9 = 63,000. hence total Rs.3,63,000/- is payable.
If Mr. Ajay Devgan expires after 11 years but before
15 years his wife would receive 2 time of S.A. i.e.
Rs. 4 lac + bonus as per 2005 rate i.e. Rs.35 x 200
x 11 = 77,000. Hence total Rs. 4,77000/- payable to
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