Face Of Insurance

RURAL LIFE INSURANCE PLAN TABLE 18

RURAL LIFE INSURANCE PLAN.TABLE 18 the socio-economic conditions of rural and less developed areas differ considerably for those in main towns and developed areas and therefore needs of insurance also differ. keeping these factors in view a special plan of insurance has been designed for the inhabitants of the rural and less developed areas. the salient features of the plan are.

RURAL LIFE INSURANCE PLAN.TABLE 18

1-age at entry and term,

the plan will be available to persons aged 20 years to 55 years .only term 15 and 2oyears will be available.

2-maturity benefits.

on the maturity of the policy—–full sum assured plus bonuses

 3- death benefits

on death from any cause ———-full sum assured plus bonuses                         on death due to an  accident——-three times sum assured plus bonuses        on death due to an accident———–five-time sum assured plus bonuses                                      caused agricultural equipment,

 4- extended reinstatement period.

premiums falling due during any periods of crop failure due to any natural calamity floods rain, wind,haildrought, locust, pests etc will be accepted within 6 months of the due date at policy reinstated without evidence of health and payment of late fees.

5- automatic non forfeiture.

if the premiums are discontinued after payment of at least 2 years premiums.the policy with automatic premium loan option, be automatically kept in force for a period of 2 years form the first unpaid premium due date.

6- premiums another mode of payment.

half-yearly annual premium multiplied by 0.52

quarterly and monthly not available

 REBATES.

premiums are subject to the following rebates                                                     for single policy of RS 6000 & over RS0.50 per thousand                                      for single policy of RS 10000 &  overRS1.00 per thousand                                 for single policy of RS 20000 & overRS1.50 per thousand                                     for single policy of RS 50000 & over RS 2.00 per thousand                                    for single policy of  RS 100000& over RS 3.00 per thousand                                  NO POLICY FEE IS TO ADDED TO THE TABULAR PREMIUM FOR THIS PLAN

Loan:

state life may grant a loan to the policyholder on his/her written request, against the net surrender value of the policy. the amount of loan shall not exceed 80% of the said net surrender value. the rate of profit or return and the other terms and conditions will be determined by state life at the time of granting the loan.loans of less then RS will not be given.
the amount of loan together with accrued profit or return will be the first charge on the policy, prior to all other claims.

SURRENDER VALUE;
The policy will acquire a surrender value after it has been in force for at least two consecutive years provided no premiums are in default. The surrender value will be quoted by state life on request of the policyholder. the surrender value is guaranteed to be not less than 30% aggregate premiums.

Claim:

State Life insurance policies provide a wide range of benefits in case of death of the persons covered against them. If your loved one covered under any of State Life has expired, you should lodge a death claim with us. All you have to do is to send a written intimation to the zonal office of State Life servicing the policy against which you are lodging a death claim.

Maturity:

It is a matter of great pleasure that your policy has matured. It is a time to fulfill the goals that you had set years back. For collecting maturity benefits, please send a written request alongwith following documents to your servicing State Life zonal office:

Uniform seniority table

AGE NEAREST BIRTHDAYANNUAL PREMIUM
PER RS 100 ASSURED
15 YEARS
ANNUAL PREMIUM
PER RS 100 ASSURED
15 YEARS
AGE NEAREST BIRTHDAYANNUAL PREMIUM
PER RS 100 ASSURED
15 YEARS
ANNUAL PREMIUM
PER RS 100 ASSURED
15 YEARS
2078.0759.123779.5261.08
2178.0759.123879.7261.39
2278,0759.233979.9361.80
2378.1859.234080.2462.21
2478.1859.334180.5562.62
2578.2859.334280.8663.14
2678.2859.434381.2763.76
2778.3859.534481.7864.38
2878.3859.644582.3064.99
2978.4959.744682.9265.82
3078.5959.844783.6466.74
3178.6959.954884.3667.67
3278.8060.054985.2868.70
3378.9060.265086.2169.83
3479.0060.465187.2471.07
3579.1060.675288.3772.51
3679.3160.875389.6173.95
5490.9575.50
5592.2977.25
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