Jeevan Sukanya

Jeevan Sukanya Eligibility Minimum sum assured Rs 10,000 Maximum sum assured Rs 5,00,000   No medical exam if the age of the child is less than 10 years. Proposals from children who are not attending school even after 5 years of age should not be entertained. A joint declaration signed by both parents declaring state of health of the child is required to be submitted. The period from date of commencement of policy and date of commencement of risk is known as waiting period. Waiting period in no case will be less than 2 years. No Accident Benefits and Extended Permanent Disability Benefit (EPDB) under this plan. Permanent Disability Benefit (PDB) only from date of vesting. Evidence of marriage : Marriage certificate. Letters from two respectable persons who attended the marriage. Features Girl child between ages 1 and 12 years only is eligible. Father, mother and if they are not alive, legal guardian can submit proposal on the life of the child. Risk under the policy commences from policy anniversary falling immediately after attainment of age 7 years of the child or 2 years from date of commencement of policy, whichever is later. Policy vests on the life assured after the life assured attains majority. When the child gets married, a free insurance cover extends for the life of husband also. The premium payments are to be made for a period equal to 20 years minus age at entry. Policy term is fixed at 50 years minus age at entry. No bonuses are payable during waiting period. However, once risk commences bonus vests for waiting period. Premium waiver benefit available: for this deferred period is reckoned as equal to 18 minus age at entry. Benefits On survival On surviving premium paying term, full sum assured is paid as survival benefit. The policy continues with risk cover and participates in profit up to age 50 years. On the life assured surviving up to date of maturity only vested bonuses will be payable, the sum assured having already been paid as survival benefit. If the life assured gets married, insurance cover commences for husband. If the husband pre-deceases the life assured during the term of the policy, full sum assured without bonuses is payable. The contract does not come to an end and continues on the life of the woman and participates in the profit. On death In case the life assured dies before the risk is commenced (i.e. during deferred period), premiums paid, including pwb (premium waiver benefit) premiums are refunded and the contract comes to an end. In case of the death of life assured after the risk commences, but before date of maturity, full sum assured along with vested bonuses are payable. Risk on the life of husband On the marriage of the life assured, a free cover extends on the life of the husband also with no additional premium payment. The risk on husband's life commences from: Policy anniversary falling on or immediately after completion of 20 years of age by the life assured. Three calendar months after date of marriage or One calendar month after receipt of intimation of marriage with proper evidence, whichever is later.