Jeevan Nivesh

An Individual Non-Linked Par Life Insurance Savings cum Protection Plan

"This is the authorized presentation and should not be altered without the permission of the Insurance Company.“Version: Nov’19

Key Benefits

Lump-sum payout at maturity - Guaranteed savings through guaranteed payout of Sum Assured at maturity

Premium payment term options - Choice of flexible Premium Payment Terms which can closely align to savings horizon

Lifelong protection - Life Insurance cover throughout the Policy Term and beyond (under the option Endowment with Whole Life Cover)

Steady build-up of fund for financial goals -Additional lump-sum benefit through payout of accrued Annual bonuses & Final bonus (if any)

Settlement option - Flexibility to convert Guaranteed Sum Assured on Maturity as annual payouts payable over next 15 years, with 5% compounded increase every year to take care of growing needs (under the only Endowment option)

Better value for higher premiums - High sum assured rebate to ensure extra benefit for making a higher premium commitment

Customize savings horizon and key financial goals -Multiple Policy Term options will make sure that customer is able to select the best suited Policy Term which is closely aligned to financial goals

Loan Facility to meet unplanned financial needs

Tax Benefits available under Section 80C and Section 10(10D), as per the Income Tax Act, 1961 as amended from time to time. For tax related queries, contact your independent tax advisor

Plan Options

Endowment with Whole Life

On survival till age 100 Guaranteed Sum Assured on

Maturity is paid

Only Endowment

Settlement Option Plain Vanilla Endowment

Entry Age

Annual Mode

18 – 55 Years

Monthly Mode

18 – 45 Years

Maximum Age at Maturity

Annual Mode

80 Years

Monthly Mode

75 Years

Boundary Conditions – Entry & Maturity Age

Boundary Conditions – Premium Payment

• Minimum Premium Depends on factors such as plan option, entry age, sum assured,

premium payment mode, premium payment term and policy term etc

• Maximum Premium No limit {Subject to Board Approved Underwriting Policy (BAUP) of the

Company}

• Premium Payment Mode Annual & Monthly* mode

{*For monthly mode, the annual premium needs to be multiplied with a factor of 0.09 to arrive at the monthly installment premium payable}

Sum Assured

Minimum

Annual Mode

₹ 3,00,000

Monthly Mode

₹ 5,00,000

Maximum

No Limit

(Subject to BAUP*)

Boundary Conditions – Sum Assured

*Board Approved Underwriting Policy

Premium Payment Term

(in years)

5

7

10

Regular

Policy Term

(in years)

10/15/20

15/20/25

15/20/25

15/20/25/30

Boundary Conditions – Premium Payment & Policy Term

For only Endowment Option • Policy will terminate at the end of the Policy Term

For Endowment with Whole Life Cover Option• Policy will continue even after the end of the

Policy Term until the death of the Life Assured or until the Life Assured attains age of 100 years whichever is earlier

o Annual Bonus(Simple Reversionary Bonus) and Final Bonus (if any) are available

o Annual Bonus may be declared at the end of every financial year based on the profits emerging from the with-profit fund managed by the Company

o Annual bonuses are added each year to the policy provided premiums are paid as and when due and is expressed as a percentage of Sum Assured

o Annual Bonuses, once added to the policy, will be guaranteed

• Annual Bonuses will not accrue once the policy has acquired Paid-up State

• In case of death, an interim bonus may also be payable along with Annual & Final Bonuses (if any)

Bonus

o Final Bonus (terminal bonus): The policy may also receive Final Bonus (if any), expressed as a percentage of Sum Assured

• Loan facility is available on this product after the policy acquires surrender value

• Min. Loan amount : 20,000.

• Max. Loan Amount : 80% of the Surrender Value

• Min. Repayment amount: lowest of 2,000 or Outstanding Loan Amount

• Max. Repayment amount: Outstanding Loan Amount

Please note that the Loan facility can be availed only if the policy is in-force i.e. loans cannot be availed, if the policy is in paid up status.

Product Features – Loans

Loan is available for Whole Life option, post policy term, after Policy Maturity benefits fully

paid

Jeevan Nivesh

Endowment Whole Life Option

Endowment with Whole Life

Policy runs for till policyholder attains age 100 or date of death, whichever is earlier

Flexibility to choose Premium Payment term and Policy Term

Risk cover after payment of Maturity Benefit

Upon Life Assured’s survival till age 100 (provided that all due premiums are paid), Guaranteed Sum Assured on Maturity will be payable

Option for Loan or surrender post policy term

On survival till the Policy Term (provided that all due premiums are paid), policyholder will receive Guaranteed Sum Assured on Maturity along with accrued Annual bonuses and Final bonus, if any

Maturity benefit is payable at the end of the Policy Term (provided that all due premiums are paid)

Maturity Benefit = Guaranteed Sum Assured on Maturity + Accrued Annual bonuses + Final bonus, if any

On payment of Maturity Benefit at the end of the Policy Term, policy will not terminate

Policy will continue till policyholder attains age 100 or date of death, whichever is earlier

On survival till age 100, Guaranteed Sum Assured on Maturity is paid

This benefit is in addition to Maturity Benefit payable at the end of the Policy

Endowment with Whole Life – Maturity Benefit

Sum Assured on death* plus accrued Annual bonus plus Interim bonus plus Final bonus (if any)

1

OR

105% of Total Premiums Paid till the date of death2

Death Benefit is higher of

•Absolute amount assured to be paid on death•10 times Annualized Premium•Guaranteed Sum Assured on Maturity

*Sum Assured on Death is defined as higher of

Endowment with Whole Life –Death Benefit during policy term

o Note that this benefit is in addition to Maturity Benefit payable at the end of the Policy Term

Endowment with Whole Life –Death Benefit after the Policy Term but before attaining age 100 years

In case of unfortunate death after the Policy Term but before attaining age 100 years, provided the policy is in-force

Guaranteed Sum Assured on Maturity will be payable to Nominee and policy will be terminated

Customer Profile

Mr Mehra, aged 40 years is married with two sons. His wife is a home maker.

Financial Goals

• Mr. Mehra wants to save for his old age through planned savings and at the same time wants to be financially protected so that his family is safeguarded in the unfortunate event of his death

• He also wishes to leave behind a legacy for his family. Therefore, Mr. Mehra decides to go for ‘Endowment with Whole Life Cover option’

Need Based Solution

• To fulfill his requirement, Mr. Mehra envisages that he needs a lump-sum of at least Rs. 5 lacs when he turns 60 and hence opts for a Sum Assured of Rs. 5 lacs

• Keeping this in mind, Mr. Mehra opts for a regular pay term of 20 years with premium payment mode as annual

• Premium he has to pay annually for 20 years is Rs. 33,600 (before taxes and cess (es) as applicable)

Sample Illustration 1 - Endowment with Whole Life

1 2 3 So on 10 So on 19 20 So on 24 25 26 So on 50 So on 60

• Policy continues after policy term till age 100 years or death whichever is earlier

• No premiums are payable• No bonuses are accrued

On survival till age 100, Guaranteed Sum Assured

on Maturity is paid

Bonus declared from 1st year onwards till end of policy term

Policy Term

Premium Payment

term

20 Years 20 Years

Age

5,00,000/-33,600

Age65 Yrs

Age100 Yrs

Death Sum Assured

40 Yrs

*Premium is exclusive of GST and applicable cess(es)/levy if anyPlease Note : Bonuses are added in this plan provided you pay premiums as and when due. Annual Bonus once added, will be guaranteed

Maturity Benefit : Guaranteed Sum Assured on Maturity +

accrued Annual bonus and Final bonus, if any

Annual Premium*

Maturity and Survival to age 100

1 2 3 So on 10 So on 19 20 So on 24 25 26 So on 50 So on 60

Policy continues after policy term till age 100 years or death whichever is earlier

Death Benefit is paid and policy terminated

Bonus declared from 1st year onwards till end of policy term

Policy Term

Premium Payment

term

20 Years 20 Years

Age

5,00,000/-33,600

Age65 Yrs

Age100 Yrs

Sum Assured

40 Yrs

*Premium is exclusive of GST and applicable cess(es)/levy if anyPlease Note : Bonuses are added in this plan provided you pay premiums as and when due. Annual Bonus once added, will be guaranteed

Maturity Benefit : Guaranteed Sum Assured on Maturity +

accrued Annual bonus and Final bonus, if any

Annual Premium*

Death Benefit

Jeevan Nivesh

Only Endowment with Settlement Option

Endowment with Settlement OptionAll In One Plan

Accrued Annual bonuses and Final Bonus (if any) are paid as lump sum on maturity

Guaranteed Sum Assured on maturity will be converted into annual payouts which are paid over next 15 years period

These annual payouts increase by 5% compounded every year to take care of growing needs

If the death of the Life Assured occurs during the Settlement option, Nominee will have the option of continuing to receive annual payouts as before or receive balance annual payouts in lump-sum which will be equal to discounted value of remaining annual payouts

o First annual payout will be payable after one year from Maturity date

o There is no risk cover /death benefit payable during the Settlement option period

o Policyholder can opt for the Settlement Option under the Policy at least 3 months before the Maturity date

o Amount of the first annual payout will depend upon the prevailing 10-Year G-Sec yield

Settlement Option

o Annual Payouts will be a percentage of the Guaranteed Sum Assured on maturity

o Settlement option will not be available if the prevailing 10-year G-sec yield is below 4%

o In case of any liquidity needs policyholder have option for complete withdrawal, discounted value of the remaining annual payouts will be paid as lump-sum and the policy will terminate

-

50,000

100,000

150,000

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Annual payout at an assumed investment return of 8% p.a. (Rs.)

@8% illustrative scenario: Payout starts at 7.55% of Sum Assured

Scenario Starting Income Payout Last Income PayoutTotal Income over

15 years

@8% 75,500 1,49,485 16.29 lacs

Assumptions : 5year Limited Pay, Age 40, Sum Assured : 10 Lacs, Annual Premium : 2.01 Lacs

Annual Income Option - Working

Guaranteed Sum Assured₹ 10,00,000

Customer Profile

• Mr Pawan is a hard working and prosperous 35 years urbane employee.

Financial Goals

• Pawan has a 5 years old daughter Neha who aspires to become a doctor. Pawan is looking for a lump sum amount when Neha will turn 20.

Need Based Solution

• Further the plan should assure an annual income to cater for the unplanned expenses as age progresses.

Sample Illustration 2 - Endowment with Settlement Option

1 2 So on 4 9 10 So on 15 21 22 So on 27 28 29 30

Bonus declared from 1st year onwards till end of policy term

Annual payouts beginTotal Payout @ 8% - 8.14 Lac

Age50 Yrs

Age35 Yrs

Age65 Yrs

74,742

37,750

Above scenario is at 8% illustrative rates which are not guaranteed and dependent on a number of factors including performance of the with-profit fund being managed by the Company.

Total annual payout is 163% more than SA. Last annual payout

is 15% of SA @8%.

Note: Annualized premium mentioned above are exclusive of GST and applicable cess(es)/levy if any.Bonuses are added in this plan provided you pay premiums as and when due. Annual Bonus once added, will be guaranteed.

Policy Term

Premium Payment

term

15 Years 10 Years

Age

5,00,000/-47,350

Base Sum Assured

35 Yrs

Annual Premium*

5,00,000/-

Death Sum Assured

Maturity Benefit : added Annual bonuses (₹ 1,50,000) + Final

bonus (₹ 1,60,000) (if any)

Maturity and Survival Benefit

1 2 So on 4 9 10 So on 15 21 22 So on 27 28 29 30

Bonus declared from 1st year onwards till end of policy term

Age50 Yrs

Age35 Yrs

Age65 Yrs

74,742

37,750

Above scenario is at 8% illustrative rates which are not guaranteed and dependent on a number of factors including performance of the with-profit fund being managed by the Company.

Note: Annualized premium mentioned above are exclusive of GST and applicable cess(es)/levy if any.Bonuses are added in this plan provided you pay premiums as and when due. Annual Bonus once added, will be guaranteed.

Policy Term

Premium Payment

term

15 Years 10 Years

Age

5,00,000/-47,350

Base Sum Assured

35 Yrs

Annual Premium*

5,00,000/-

Death Sum Assured

Maturity Benefit : added Annual bonuses (₹ 1,50,000) + Final

bonus (₹ 1,60,000) (if any)

Death Benefit

Death Benefit to nominee1. Continue with Settlement Option2. Complete Withdrawal

Jeevan Nivesh

Only Endowment

Endowment Option

Policy terminates at end of policy term on payment of maturity benefit

o Plain Endowment

o Simple and easy

o Limited Pay Option

o Risk coverage during policy term

o Bonuses declared once are guaranteed

Customer Profile

• Mr. Gupta is 35 years old and married, with a 5 year old son named Aryan.

Financial Goals

• He wants to secure his son’s future through disciplined savings. Mr. Gupta also wants his family to be financially protected in case of his unfortunate death

Need Based Solution

• Therefore, Mr. Gupta decides to save for this goal and decides to go for the only Endowment option

• To fulfill his financial goal, Mr. Gupta estimates that he needs a guaranteed lump-sum of at least Rs. 5 lacs and hence opts for a Sum Assured of Rs. 5 lacs

• Keeping this in mind, Mr. Gupta opts for a limited premium payment term of 7 years with a Policy Term of 15 years

• Premium he has to pay annually for 7 years is Rs. 64,550 (before taxes and cess (es) as applicable)

Sample Illustration 3 – Only Endowment Option

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Maturity Benefit : Guaranteed Sum Assured on Maturity + accrued Annual bonus and

Final bonus, if any

Bonus declared from 1st year onwards till end of policy term

Policy Term

Premium Payment

term

15 Years 7 Years

Age

5,00,000/-64,550

Age50 Years

Base Sum Assured

35 Yrs

*Premium is exclusive of GST and applicable cess(es)/levy if anyPlease Note : Bonuses are added in this plan provided you pay premiums as and when due. Annual Bonus once added, will be guaranteed

Annual Premium*

Maturity Benefit

Age35 Years

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Death Benefit : Rs. 6,45,500 (Sum Assured on Death) plus accrued Annual bonuses plus

Interim bonus plus Final bonus (if any)

Policy Term

Premium Payment

term

15 Years 7 Years

Age

5,00,000/-64,550

Age35 Yrs

Age50 Yrs

Base Sum Assured

35 Yrs

*Premium is exclusive of GST and applicable cess(es)/levy if anyPlease Note : Bonuses are added in this plan provided you pay premiums as and when due. Annual Bonus once added, will be guaranteed

Annual Premium*

Death Benefit

• Death benefit payable will not be less than 105% of {Total Premiums Paid11 till the date of death less underwriting extra premiums, if any}.

Policy Conditions

Discontinuance of PremiumStatus of policy after grace period

Conditions Description

Discontinuance in first 2 policy years (policy has not acquired paid – up status)

• Policy will acquire Lapse status at the expiry of the Grace Period and the insurance cover will cease immediately

• No benefit shall be payable upon death or upon request for termination of policy or on the expiry of the revival period

Discontinuance after first 2 policy years (policy has acquired paid – up status)

• Policy will acquire a Paid-up value at the expiry of the grace period and continue withsuch Paid-up value till maturity or death, whichever is earlier

• Policy will not be eligible for future bonuses and any future benefits will be based onpaid up sum assured as long as the policy is in Paid-up state. However, the bonusesalready added to the policy before policy going Paid-up will remain guaranteed

Paid – Up Benefit – (1/2) Endowment with Whole Life Cover option

Conditions Description

Reduced Maturity Benefit

On survival till maturity, following will be payable:a) Paid-up Sum Assured on Maturity.b) Accrued Annual bonuses till the time policy acquires Paid-up status along with Final bonus,

if any, will also be payable on maturity.On payment of above benefits, the policy shall not terminate and continue till age 100 or date of death, whichever is earlier

Reduced Survival Benefit

• On survival till age 100, an amount equal to Paid-up Sum Assured on Maturity is paid• On payment of Survival Benefit at age 100, Policy will terminate and no further benefit will

be payable• Note that this benefit is in addition to Reduced Maturity Benefit payable at the end of the

Policy Term

Paid – Up Benefit – (2/2) Endowment with Whole Life Cover option

Conditions Description

Reduced Death Benefit during the Policy Term

Following benefit payable on death:a) Paid-up Sum Assured on Death.b) Accrued Annual bonuses till the time policy acquires Paid-up status along with Final

bonus, if anyNote that the Death Benefit shall always be at least 105% of {Total Premiums Paid11 till the date of death less underwriting extra premiums, if any}.On payment of above benefits, policy will terminate

Reduced Death Benefit after the Policy Term till age 100 years

• Paid-up Sum Assured on Maturity will be payable on death• On payment of above benefit, Policy will terminate and no further benefit will be payable

Paid Up ValueOnly Endowment Option

In case of Death In case of Maturity

• Paid-up Sum Assured on Death; and

• Accrued Annual bonuses till the time policy acquires Paid-up status along with Final bonus, if any,

Note that the Death Benefit shall always be at least 105% of {Total Premiums Paid till the date of death less underwriting extra premiums, if any}

• Paid-up Sum Assured on Maturity; and

• Accrued Annual bonuses till the time policy acquires Paid-up status along with Final bonus, if any

On payment of the above the policy will terminate

Revival

Revive Policy within revival period of 5 years from due date of first unpaid premium

Pay all past due premiums along with applicable interest rate

Revival request may be accepted or declined as per Board Approved Underwriting Policy of Company

Post revival of policy, product benefits including bonus amount would be reinstated to full level

If a policy in lapse state is not revived within the revival period, it shall terminate upon expiry of the revival period

• Policy acquires a Guaranteed Surrender Value as well as Special Surrender Value (SSV) after payment of at least 2 consecutive policy years’ premiums

• Surrender the policy any time during the policy term

Surrender Value : higher of {Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV)}

Surrender

Surrender ValueGuaranteed Surrender Value (GSV) & Special Surrender Value (SSV)

Guaranteed Surrender Value: based on defined percentage of Total Premiums Paid (excluding any underwriting

extra premium, if any) and percentage of accrued simple reversionary bonuses

Special Surrender Value: determined by the Company and may vary from time to time with prior approval of

the Authority

Note: For the details on Guaranteed Surrender Value percentages (Factors), please refer the Sample Policy Contract available on Company’s website.

Exclusions

• Within 12 months from the date of commencement of risk under Policy, Nominee shall be entitled to at least 80% of the total premiums paid, till the date of death or surrender value available as on the date of death whichever is higher, provided the Policy was in-force

• Within 12 months from the Revival date of the Policy, the Nominee shall be entitled to an amount which is higher of 80% of the total premiums paid till the date of death or the surrender value as available on the date of death

Suicide

Tax Benefit*

• Premium paid under this product are eligible for Tax deduction as per the rule of section 80C of IT Act

• The survival and death benefits received by the beneficiary will be eligible for tax benefits u/s 10.10(d) of IT act

*Tax benefits on Premiums paid and benefits received during Policy Term under Section 80C and Section 10(10D), as per the Income Tax Act, 1961, as amended from time to time

Thank You

"This is the authorized presentation and should not be altered without the permission of the Insurance Company.“Version: Nov’19