NEW PRODUCTS
HEARTY WELCOME TO ALL
NEW PRODUCTS
BMOs
04/10/2024
CHANGE…..
CHANGE IS GROWTH…
AND
GROWTH IS BEAUTIFUL
MINOR AGE AT ENTRY REDUCED….
Beauty CHANGE IN MINOR
1 LIFE AGE AT ENTRY
The Age at Entry of
Minor Lives has been
reduced to 30 Days
from 90 Days
INCREASE IN AB RIDER SUM ASSURED
Beauty ACCIDENT BENEFIT RIDER
2
Accident Benefit under AB
Rider can be up to 3 Times
of BSA.
(Overall AB is preserved @
1 Cr)
NACH – MONTHLY MODE
Beauty ❖ 3 Instalment Premium Required
3
❖ 3 Month Period from DoC is given for
Validation
❖ If NOT Validated, Mode will be converted
into
Quarterly automatically.
POLICY LOAN
After Completion of First
Beauty Policy Year Provided One
4 Full Year Premium is Received.
Before 2 full Yr Premium Remittance
Policy Status
In-force Policies 50%
Paid-up Policies 40%
SURRENDER
Beauty
5 POLICY SHALL ACQUIRE
SURRENDER VALUE AFTER
COMPLETION OF FIRST POLICY
YEAR PROVIDED
ONE FULL YEAR PREMIUM HAS
BEEN PAID.
POLICY LOAN CAN ALSO BE
AVAILED AFTER ONE YEAR
Other changes
Customized Benefit Illustration
has been revised
Customer information sheet and
Need Analysis document shall
form part of Policy document .
UTSAV……771
Policy can be given from 30 days from DOB
for PPT 16 Yrs
No Changes in SB, & Death benefit.
CIR will not be available
No Change in commission and DO credit
UMANG…745.
No Changes in SB, & Death benefit.
Policy can be given from 30 days from DOB.
SB starts from Age 18 Yrs
CIR shall not be available
Free look period is extended to 30 days
No Change in commission Structure
JEEVAN ANAND…. 715
Minimum SA 200000/-
No Changes in Maturity benefit.
Free look up period extended to 30 days from the date of receipt of
electronic/physial bond
Commission structure revised
Increase in Premium is Increase in Commission
ENDOWMENT …. 714
Minimum SA 200000/-
Age at entry reduced from 55 Yrs to 50 Yrs.
Premium revised upward
Increase in Premium is Increase in Commission
Lakshya … 733
Minimum SA 200000/-
Age at entry reduced from 55 Yrs to 50 Yrs
No Changes in Maturity benefit.
Premium revised upward
Increase in Premium is Increase in Commission
Labh … 736
SA on death is modified as Higher the BSA or 7 times the
premium paid ( previously it was 10 times) or 105 % of premium
paid which ever is high
Settlement option in maturity / option to take death benefit in
installments now allowed
No Changes in Maturity benefit.
Premium revised upward
Increase in Premium is Increase in Commission
Jeevan Shanti 758
Maximum 5 Yrs deferment
period only
Interest rates maintained
JEEVAN AKSHAY VII 857
Revised proposal form is to
be used
No changes in
plan/benefit/commission
structure
INDEX PLUS 873
Min Age at entry 90 days
( No Change)
No change in plan features,
commission structure
PENSION PLUS 873
Settlement option:
The Nominee can receive
the death benefit in
installments
JEEVAN AMAR 955
Revised AB is available now
Options to receive death benefits in
installments is now available
No change in premium rates
Suicide clause for Single Premium Modified as
if death due to suicide within 12 months then
Nominee shall be entitled to 80 % of the SP
Paid
AMRITBAAL 774
Under Limited premium payment (Option 1 &
2) now Death benefit under paid up policy shall
not be less than 105 % of premium paid
SINGLE PREMIUM ENDOWMENT …717
Minimum SA is Rs 1 Lakh
Minimum Age at entry 30 days
Death Sum assured:
Age at entry less than 50 Yrs= Higher of BSA
or 1.25 times of Premium paid
Age at entry more than 50 Yrs= Higher of BSA
or 1.1 times of Premium paid
Increase in Premium is Increase in Commission
Yuva term – 875, Yuva Credit life - 877
No changes
AGENCY COMMISSION
TERM 21 YEARS. RATE OF COMMISSION
YEAR UP TO YEAR Fr om
30-09-24 01/10/2 024
1st Year (25%) 25.00 1st Year (20%) 20.00
BONUS (40% FYC) BONUS (40% FYC)
10.00 08.00
2 & 3 Yr (7.5%) 15.00 2 & 5 Yr (7.5%) 30.00
Subsequent 18 90.00 Subsequent 16
80.00
Yrs (5%) Yrs (5%)
After 6th Year (2%) 2.00
TOTAL 140.00 140.00
Commition Including
Entry Age Term Bonus
Premiu LOAN
Minimu
m Modes
Plan No. Plan Name m Sum
Ceasin Allowed
Assured Bellow Above 15
g Age Years
Minimu Maximu Minimu Maximu 15 Y Years
m Years m Years m Years m Years
6th to
facility Fist Year Fist Year 2 & 5 Yr
end
Y/H/Q/M/S
714 New Endowment 200000 8 50 12 35 75 Yes 15+6 20+8 7.5 5
SS
New Jeevan Anand SUC Y/H/Q/M/S
715 200000 18 50 15 35 75 Yes 28 7.5 5
1.25% SS
717 Single Premium Endowment 100000 30 Days 65 10 25 75 Single Yes 2 2
Y/H/Q/M/S
733 Jeevan Lakshya 200000 18 50 13 25 65 Yes 21 28 7.5 5
SS
Y/H/Q/M/S
736 Jeevan Lab - Ltd pay 200000 8 59 16,21,25 10,15,16 75 SS Yes 21 28 7.5 5
PREMIUM ANALYSIS
Pln Tm Age 2,00,000 5,00,000 10,00,000
New Old New Old New Old
714-21 40 11230 10247 26767 25095 51968 50190
715-21 40 13513 12522 32477 30784 63386 61046
733-21 40 12622 11783 29465 28936 57887 57873
736-21(15) 40 12796 11895 30946 29084 59847 57908
745-20 40 12192 11486 29174 28060 57304 55598
Premium with Yellow Background with assumed ADDB Premium
871-05 40 121700 113375 231788 224250
