Face Of Insurance


SHEHNAI POLICY. table 77 is an innovative life insurance.it provides a solution to the problems of many concerned parents who want to save now in order to provide for their children’s higher education, marriage, and alternative expenses once the requirement arises. the term of the plan is such that the lump sum benefits become payable as the child attains of the age of 25 years.

shehnai policy

also assists in tackling the ravages of the inflation.this is done by the automatic increase of 6%p.a . in sum assured and premium form third policy years onward. however,the policyholder has the right to refuse the increase in pay the same premium as last year.
if the policyholder refuses the increase 3 times during the policy term then the evidence of insurability will be required for further increases.
a policy statement will also be issued 2 months ahead of due date form the 4th year onwards showing the buildup of the cash value of the policy and sum assured for the year.

the salient features of the plan are.

SHEHNAI POLICY. maturity benefit; the policy matures when the child attains the age of 25years.at maturity, the cash value of the policy is paid to the child. the cash value includes all the bonuses that have been credited to the policy.
benefits to the child upon assured s; death;
if the assured dies throughout the term of the policy, then;
premium payments stop and the sum insured applicable to the policy year of the death is deferred to be payable when the child attains age 25 at the time of death of the assured,
the said sum assured is added to the adjusted opening cash to participate in state life‘s surplus until it is paid out . the enhanced cash value with bonuses will be paid to the child when he/she attain age 25 years.
option to the policyholder upon the child death;

the policyholder has 3 option

1- switch the plan for the life of another child and continue the policy.
2-receive the adjusted opening cash value at the beginning of the year of death of the child and terminate the contract.
3- continue the policy without naming another child. other terms and conditions will remain unchanged.
the behtar option.
the child will have behtar option. under this option, the child may collect the lump sum benefits in 5 equal annual installments. the sum of this 5 installment will be greater than the lump sum.
[table id=58 /][table id=59/]


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