Policyholder has to fill up an `Application form/ proposal form with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.
On Maturity, the Fund Value as on that date is paid to the policyholder On death, higher of the Sum Assured net of any partial withdrawals made in the previous 2 years or the available Fund Value is payable to the nominee subject to a minimum of 105% of all premiums paid Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.
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Details About Premium Illustration for a policy of 15 years Policy Details Grace Period: grace period of 30 days is allowed for payment of premium beyond which the policy will lapse Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinued Policy Fund where it will earn a minimum of 3.5% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim. Inclusions Unlimited Free partial withdrawals are allowed every year which should be a minimum of Rs.2500 and maximum of 50% of the Fund Value as on the date of withdrawal 2 free switches are allowed per policy year Additional Features or Riders Riders are not available under the plan Exclusions The benefit paid in case of suicide within 12 months of policy inception is the fund value as on that date.
Introduction/Overview Sugam Jeevan Bima Plan is a Unit Linked Insurance Plan where the premium paid is invested in capital markets for maximum growth and it also provides insurance coverage for security Key Features It is a unit linked plan with Regular Pay option The following 5 funds are available for investment: Secured Fund Balanced Fund Smart Fund Growth Fund Prima Fund
