New Jeevan Amar

NEW JEEVAN AMAR plan number 955 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.
(1) Non-Smoker rates
(2) Smoker rates
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Saral Jeevan Bima

SARAL JEEVAN BIMA plan number 859 This is a Non-Linked, Without Profits, Pure Risk Cover Plan.
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Coverage Period: Term insurance plans are typically available for terms of 5, 10, 15, 20, or 30 years. The policyholder pays regular premiums during this period, and if they pass away within the term, the death benefit is paid out to the beneficiaries.

Death Benefit: The death benefit is the amount of money paid to the policyholder's beneficiaries upon their death. The beneficiaries receive the entire sum assured as a lump sum payout. The death benefit is tax-free in most countries.

No Cash Value or Savings Component: Unlike some other types of life insurance policies, such as whole life or universal life insurance, term insurance plans do not accumulate cash value over time. If the policyholder survives the term, there is no payout or return of premiums paid.

Affordability: Term insurance plans are generally more affordable than permanent life insurance policies because they offer pure insurance coverage without any investment or savings component. The premiums are typically lower, especially for younger and healthier individuals.

Financial Protection: Term insurance plans are primarily designed to provide financial protection to the insured's dependents or beneficiaries. It can help replace the insured's income, cover outstanding debts, fund education expenses, or provide for other financial obligations in the event of the insured's death.