Exide Life Nirmal Jeevan Insurance Plan is a traditional savings plan with low premium rates and life insurance coverage to provide for financial security in future through minimal savings
|
|
Minimum |
Maximum |
|
Entry Age (Last Birthday) |
3 years |
55 years |
|
Maturity Age (Last Birthday) |
18 years |
70 years |
|
Policy Term (PT) in years |
10, 12 or 15 |
|
|
Premium Paying Term (PPT) in years |
Equal to policy term |
|
|
Premium Paying Frequency |
Annual |
|
|
Yearly Premium |
6000 |
12,000 |
Annual premium in Rupees and Benefit Illustration
|
Age (yrs.) |
Term (yrs.) |
Premium |
SA |
|
40 |
10 |
6000 |
69,695 |
|
40 |
12 |
8000 |
118,519 |
|
40 |
15 |
10,000 |
198,216 |
Grace Period: 30 days’ grace period is allowed for premium payment
Policy Termination or Surrender Benefit: the policy can be surrendered if 3 full years’ premium has been paid. The Surrender value will be higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV)
GSV = (% of all Premiums paid)
SSV = SSV Factor * SA/1000
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.
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.
