Annual Money Back Life Insurance Plan
Annual Money Back Life Insurance Plan
Annul Money Back Policy - With Profits:
Annual Money Back Plan is participating anticipated endowment plan. This plan is specially generated for those who wants the annual return back money in yearly basis. This product will be beneficial to those who is going to take loan from a financial institution. Person those who is earning regular income like salary also will be benefited from this product.
Product for – Individual Person ( Male / Female)
Policy Requirements:
| Minimum Sum Assured | : 500,000/- |
| Maximum Sum Assured | : No limit ( As per Income Source) |
| Entry Age | : 11 to 65 Years |
| Policy Term | : 5 to 20 Years |
| Maximum Maturity Age | : 70 Years |
| Rider Benefits | : ADB ,MIB,PWB |
Special Features:
Rebate on large Sum Assured:
Sum Assured: 5,00,000/- onwards
Rebate: Rs. 2/-
Rebate on Premium Paying Terms:
| Mode of Payment | Rebate |
| Yearly | 2% |
| Half yearly | 1% |
| Quarterly | NIL |
| Monthly | Additional 5% |
Policy Benefits – Annual Money Back Policy With Profits:
1.Survival / Maturity Benefit :
-5% of Sum Assured is payable annually to Assured Person.
-On Survival to Maturity remaining Percentage of Sum Assured Along with Vested Bonus is payable.
2. Death Benefit :
Sum Assured and Vested Bonus
3. Death Benefit due to Accident :
Additional amount equal to Sum Assured or Rs. 1,00,00,000/- whichever is lower
4. TPD Benefit due to Accident :
Rider Sum Assured is payable in 120 monthly installment, Balancing installment shall be
payable in lump sum on maturity or at death.
Other facilities:
-Surrender Value
-Policy holder Loan
-Tax benefit As per ITA,058
Approval date from Beema Samiti: 15/06/2018
Date of first policy issue: 24/06/2018
Discontinued Date : 18/02/2022
