“Jyoti Ezee Pay Plan” is a money-back plan under which 5% of Sum Assured is refunded in every policy anniversary which can be adjusted during renewal premium payment. With these features, the policyholder can easily manage to pay reduced renewal premiums regularly and continue the insurance coverage. In case of death, the full sum assured will be paid to the beneficiary without deducting a refunded or adjusted amount.

Plan Features: Criteria

Basic Benefits:

• During Policy Term, 5% of the sum assured will be refunded or adjusted in renewal premium.
• In case of death of insured due to any cause during the policy term, the full sum assured with bonus will be paid to the nominee/beneficiary.
• If the insured survives till the maturity date, the remaining sum assured after 5% yearly refunded amount along with bonus will be paid to the policyholder.

Insurance Premium:

Insurance Premium is to be determined based on the age of insured, policy term, and requested coverage amount.

Optional Benefits (Rider Benefits):

With the payment of an additional premium, the following additional benefits can be taken:

1. Accidental Death Benefit (ADB) Only:

In case of death due to accident, an additional benefit equal to basic sum assured or maximum Rs. 1,00,00,000 whichever is less is payable to the nominee/beneficiary.

2. Accidental Death Benefit, Accidental Total Permanent Disability, Premium Waiver Benefit – ADB, TPD & PWB:

In case of death due to an accident, an additional benefit equal to the basic sum assured is payable to the nominee/beneficiary. If the insured become total and permanently disabled due to an accident, an additional benefit equal to the basic sum assured is payable in 120 installments monthly and all future payable premium will be waived. The total coverage amount under these benefits will be equal to the basic sum assured or Rs. 1,00,00,000, whichever is less.

Additional Term Insurance Coverage

With Payment of extra premium, the policyholder can also choose to take separate coverage of additional term life insurance along with CI 18 or CI 35 rider benefits.

If policyholder opts to take this benefit, additional coverage that will be covered are as below:

• In case of death of the insured due to any cause during the policy term, an additional sum assured equal to the basic sum assured will be paid to the beneficiary.
• In case life assured is diagnosed with mentioned 18/35defined critical illness, a lump-sum amount equal to basic sum assured or maximum up to Rs. 50,00,000 will be paid to the insured.

Criteria for additional Term Plan with CI coverage: 

• Sum Assured, Term, Mode of Payment, Date of Commencement should be the same as “Ezee Pay Plan”
• Min Entry age: 18,
• Max Entry age: 55,
• Max policy maturity age: 60,
• Maximum coverage: Rs. 50,00,000.

POLICY ISSUE DATE: 2021-01-10