Paras Investment Services

23/06/2020

Plan :Jeevan Anand (915)

Product Summary :
New Jeevan Anand(915) Plan is a participating non-linked plan which offers an attractive combination of protection and savings. This combination provides financial protection against death throughout the lifetime of the policyholder with the provision of payment of lump sum at the end of the selected policy term in case of his or her survival.

Premium Payment Mode:
Yearly, Halfly, Quarterly, Monthly(ECS)

Term :
15 to 35 years

Minimum Entry Age :
18 Year Completed

Maximum Entry Age :
50 Year (Nearest Birthday)

Maximum Maturity Age :
75 Year

Minimum Sum Assured :
1,00,000

Maximum Sum Assured :
NO LIMIT (Depending upon Income)

Maximum Accidental Death and Disability Benefit Rider up to age 70.

Policy Benefits :

On Death :
Provided all due premiums have been paid, the following death benefit shall be paid:
• On Death during the policy term: Death benefit, defined as sum of Sum Assured on Deathand vested Simple Revisionary Bonuses and Final Additional bonus, if any, shall be payable. Where, Sum Assured on Death is defined as higher of 125% of Basic Sum Assured or 7 times of annualised premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.The premiums mentioned above exclude service tax, extra premium and rider premiums, if any.
• On death of policyholder at any time after policy term: Basic Sum Assured

On Survival :
Basic Sum Assured, along with vested Simple Revisionary Bonuses and Final Additional Bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid.

Surrendered Value :
The policy can be surrendered for cash provided at least two full years premiums have been paid.The Guaranteed Surrender value during policy term shall be a percentage of total premiums paid (net of service tax) excluding extra premiums and premiums for riders, if opted for. This percentage will depend on the policy term and policy year in which the policy is surrendered.

Income Tax Benefit :
Loan can be availed under the policy provided the policy has acquired a surrender value and subject to the terms and conditions as the company may specify from time to time.

Income Tax Benefit :
• Premium paid under this plan is eligible for TAX rebate under section 80c.
• Maturity under this plan is free under sec 10(10D).

Proposal Form : 300 shall be used under this plan.

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Insurance Calc

20/06/2020

Plan :Jeevan Amar (855)

Product Summary :
JEEVAN AMAR plan number 855 is a Non-Linked, Without Profit, pure protection plan. Under this plan there is flexibility to choose from two death benefit options viz. Level Sum Assured and Increasing Sum Assured.
Under this plan, there are two categories of premium rates viz. (1) Non-Smoker rates and (2) Smoker rates.

Premium Payment Mode:
Premiums can be paid either under Regular Premium, Limited Premium or Single Premium payment options under this plan. In case of Regular and Limited Premium payment, the premium can be paid regularly during the Premium Paying Term with modes of premium payment yearly or half-yearly.

Term :
10 to 40 Years

Minimum Entry Age :
18 Years (Last Birthday)

Maximum Entry Age :
65 Years (Last Birthday)

Minimum Sum Assured :
25,00,000

Maximum Sum Assured :
NO LIMIT

Premium Paying Term :
Policy Benefits :

On Death :
On death of the Life Assured during the policy term Sum Assured on Death shall be payable.

For Regular premium and Limited premium payment policy, Sum Assured on Death is defined as the highest of: • 7 times of annualised premium; or • 105% of all the premiums paid as on the date of death; or • Absolute amount assured to be paid on death.

For Single premium policy, Sum Assured on Death is defined as the higher of: • 125% of Single Premium. • Absolute amount assured to be paid on death.

Absolute amount assured to be paid on death shall depend on Death Benefit Option chosen at the time of taking this policy and is as under:
• Option 1: Level Sum Assured: Absolute amount assured to be paid on death shall be an amount equal to Basic Sum Assured, which shall remain the same throughout the policy term.
• Option II: Increasing Sum Assured: Absolute amount assured to be paid on death shall remain equal to Basic Sum Assured till completion of fifth policy year. Thereafter, it increases by 10% of Basic Sum Assured each year from the sixth policy year till fifteenth policy year till it becomes twice the Basic Sum Assured. This increase will continue under an inforce policy till the end of policy term; or till the Date of Death; or till the fifteenth policy year, whichever is earlier. From sixteenth policy year and onwards, the Absolute amount assured to be paid on death remains constant i.e. twice the Basic Sum Assured, till the policy term ends.

The option once chosen cannot be altered subsequently.

On Survival :
On survival to the end of the policy term,no benefits shall be payable.

Surrendered Value :
No surrender value will be available under this plan. However on surrender of policy in the following cases (for both Level Sum Assured (Option I) as well as Increasing Sum Assured (Option II) options), an amount shall be refunded as per underwriting terms. (For more details contact branch office.)

Loan :
No loan will be granted under this plan.

Income Tax Benefit :
• Premium paid under this plan is eligible for TAX rebate under section 80c.

Proposal Form : 511 and 512 shall be used under this plan.
For more information visit

Insurance Calc

19/06/2020

Plan :Pradhan Mantri Vaya Vandana Yojana (856)

Product Summary :
Pradhan Mantri Vaya Vandana Yojana (Plan No. 856) is a Government subsidized Scheme which shall provide an assured return of 7.4% p.a.payable monthly (i.e. equivalent to 7.66% p.a.) on the pensioner surviving during the policy term of 10 years for citizens aged 60 years and above.

Premium Payment Mode :
Single Premium

Mode of Pension payment :
• The modes of pension payment are monthly, quarterly, half-yearly and yearly. The pension payment shall be through NEFT OR Aadhar Enabled Payment System only.

Pension Rate :
• Yearly : 7.66
• Halfly : 7.52
• Quarterly : 7.45
• Monthly : 7.40

Minimum Entry Age :
60 Year Completed

Maximum Entry Age :
No Limit

Minimum Sum Assured :
• Yearly : 1,56,658
• Halfly : 1,59,574
• Quarterly : 1,61,074
• Monthly : 1,62,162

Maximum Sum Assured :
• Yearly : 14,49,086
• Halfly : 14,76,064
• Quarterly : 14,89,933
• Monthly : 15,00,000

Min-Max Pension Limit :
• Minimum Pension:
Rs. 1,000/- per Month
Rs. 3,000/- per Quarter
Rs. 6,000/- per Half-year
Rs. 12,000/- per Year

• Maximum Pension:
Rs. 9,250/- per Month
Rs. 27,750/- per Quarter
Rs. 55,500/- per Half-year
Rs. 1,11,000/- per Year

Policy Benefits :
On Death :
On death, the full purchase price will be refunded to nominee.

Surrendered Value :
Surrender would be allowed in special circumstances like critical / terminal illness of self or spouse. The Surrender Value payable in such cases shall be 98% of Purchase Price.

Loan :
Loan (up to 75% of subscribed amount) can be availed after 3 years from the Date of Commencement.

For more information visit

Insurance Calc

12/06/2020

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12/06/2020

Every little drop make ocean