NEW
BIMA KIRAN
'NEW
BIMA KIRAN' is a new plan with effect from 18th February,
2002. This replace the existing plan - 'BIMA KIRAN'.
This
plan is suitable for young men and women who wish to provide
family protection at an affordable premium, i.e. maximum
coverage plan with minimum outlay. As compared to Bima Sandesh,
this plan offers loyalty additions and a free insurance
cover and a built in accident benefit.
- Death
Benefits: Full
Sum Assured with Loyalty Additions, if any, on the unfortunate
death during the term.
- Accident
Benefit:
- On
death due to accident: Full Sum Assured with in
addition to the Basic Sum Assured.
- On
disability due to accident: The amount equal to
Sum Assured divided to monthly installments spread
over a period of 10 years (to be paid for 120 months).
Waiver of premiums payable in the future.
- The
Maximum Accident Benefit available on this plan will
be upto Rs.5,00,000/-. This will be exclusive of the
overall maximim limit of Rs.10,00,000/- in aggregate
placed on other existing policies.
- Maturity
Benefit: A Sum equal to total amount of premiums paid
(including accident premium but excluding other extra
of any) chall become payable on surviving the term.
- Loyalty
Addition: Loyalty addition will be paid along with
death or maturity benefits, provided the policy is in
force. This will depend on the future experience of the
Corporation with regard to mortality, interest and expenses
based on the term and duration of the policy. No Loyalty
addition will be payable in case of death in the first
4 policy years.
- Extended
Term Covert: On survival of the term, an Extended
Term cover (without accident benefit) shall be available
thereafter for a period of 10 years on the following scale:
|
POLICY
TERM
|
EXTENDED
TERM COVER (per thouseand)
|
|
10-14
years
|
Rs.200/-
|
|
15-19
years
|
Rs.300/-
|
|
20-24
years
|
Rs.400/-
|
|
25-29
years
|
Rs.500/-
|
|
30
years
|
Rs.600/-
|
|
|
