| Plan 88 - Jeevan Mitra Double/Triple Cover Plan Endownment Plan |
| Insurance Type |
Endownment Plan |
| Min/Max age |
18/50 years |
| Min/Max term |
15-30 years |
| Maximum maturity age |
70 years |
| Minimum sum assured |
Rs 20,000 |
| Payment Mode |
All |
| Rebate for mode |
Yearly 3% | Half-yearly 1.5% |
| Policy loan |
Yes |
| Housing loan |
Double the amount of sum assured would be considered for coverage of housing loan |
| DAB |
Yes |
| Tax Benefits |
Under Section 88 and Section 10 (10d) |
Features
- On Maturity: Sum Assured + Accrued Bonus
- On Death: Natural Death: Double the sum assured + Accrued Bonus
- On Death: With DAB (accidental Death): Triple Sum Assured + Accrued Bonus
- Permanent Disability Benefit: No further premiums to be paid if permanent disability occurs.
- In case of Jeevan Mitra Triple Cover, benefits in case of accidental death would be four times the sum assured + accrued bonus
- Internal Rate of Return: 8.20%; After Section 10 (10d): 11.97% (for term 20 years)
|
