KOMAL JEEVAN LIFE INSURANCE POLICY BY LIC (Table: 159)

KOMAL JEEVAN LIFE INSURANCE POLICY BY LIC (Table: 159)
Features of plan
This is money back plan for children with guaranteed addition @ 75/- per 1000 S.A. the above policy
has been introduced to provide the best education which can be very expensive for the proposer's
children. The payment of premium ceases on policy anniversary immediately after the child attain 18
years of age The plan, besides offering risk cover, also offers payment of S.A. in installments at age
18, 20,22,24 and guaranteed and loyalty addition, if any, at the age of 26. Risk covers starts from the
policy anniversary after completion of 7th year of the child or 2 yrs. From the commencement of the
policy, whichever is later.
Policy As A Gift: the close relation such as grandparents, elder brothers or sister, uncles both from
paternal or maternal side can gift single premium policy for love and affection under this plan, in such
cases also, the policy will be proposed by father, mother or legal guardian. No medical examination is
required for the child
Premium waiver benefit: Premium waiver benefit can be availed by the proposer under this plan for
which addition premium will be payable. Lives up to the age of 50 (nearer birthday) are eligible,
subject to normal underwriting requirements like production of proposer's standard age proof and
medical exam. Of the proposer is must.
Term rider benefit: term rider benefit can be availed by the proposer to the extent of 20% of the
basic S.A. under the policy not exceeding Rs.100000/- the benefit will be payable in case the proposer
dies before the policy anniversary on which the child completes 18 years.
Lives up the age of 50 (nearer birthday) are eligible for this benefit subject to normal underwriting
requirements.
Plan parameters
Age at entry
: Min.0 yrs. LBD Max.10 yrs LBD
Maturity age
: 26 yrs. LBD
PPT
: Min. 8 yrs. Max.18 yrs
Sum assured
: min. 1Lac Max. 25Lac
S.A. in multiples : 25,000
Mode of payment
: YLY/HLY/QLY/SSS/MLY & single premium
Accidents benefit
: N.A.
Policy loan
: N.A.
Housing loan
: N.A.
Revival
: yes
Surrender of policy
: yes
P.W.B.
: yes
Term rider
: yes
CIR
: N.A.

Underwriting
Form no : 360
Age proof
:Child 5 yrs. & above: school certificate
If not5yrs. And above
: Birth certificate with parent joint declaration
Female lives category
: I/II
Non-medical
: Not required for L.A.
When PWB + TRB is
: Medical exam. Is necessary with Opted by the
proposer, Standard age proof and form no.300
Actual sum assured
: Basic SA
Risk coverage
: SA+GA+LA
Dating back @ 8%
: Allowed
Benefits:
Maturity benefit: at the end of age 18 yrs, and 20 yrs. 20% of S.A. is paid and at the end of age 22
& 24 yrs. 30% of S.A. is paid finally, at the end of age 26 yrs G.A. + L.A. if any is paid.
Example: Mr. Rahul Gandhi aged 32 yrs. Takes a komal jeevan policy for his daughter akanksha aged
4 years for Rs.2 Lac S.A. with PWB and TRB. Risk cover of baby akanksha starts from the policy
anniversary after completion of 7th year.
Akanksha will get Rs.40,000 as ist instalment, at the age of 18 years, then Rs.60,000 respectively
finally, at the age of 26 years she will get Rs.3,30,000 as Guaranteed Addition @ 75/- per thousand +
loyally addition, if any if akanksha dies after commencement of the risk i.e. 7 years maturity full S.A.
i.e. Rs.2 Lac + G.A @ 75/- per thousand S.A+ L.A , if any, will be given to the nominee without
deducting earlier paid installments.
Get In Touch
Satya Surya Financial Services
Somajiguda, near Keerthilal Jewelers, Hyderabad-500082
Web: http://www.ssfinserv.com
Email: ssfinserv@live
Phone: +91- 95506 64449 / 9492034908