Child Education & Marriage Assurance is a plan for the protection of child’s future. It provides a lump sum benefit for the child at the completion of the policy term. On completion of term of the policy, full sum insured together with the accrued bonuses become payable to the policyholder. Please click here for the details of bonuses currently available for this plan

If the policyholder dies (Allah forbid) before completion of the term, a family income benefit of Rs 240 per 1000 sum insured per annum is paid to the child until the completion of policy term. Further, future premiums under the policy are waived and policy remains in force with full sum insured and continues to participate in State Life’s surplus and receive bonuses. Upon the completion of policy term, the child gets two options of either getting the proceeds in a lump sum or in five equal installments.

• Continue the policy without naming another child in which case the benefit of Refund of Premium [as provided above under condition (b)] will not be available.

• Continue the policy in the same manner as earlier by switching the plan for the benefit of another child.
• Get a refund of all the previous premiums paid till the death of the child or the cash value of the policy, whichever is higher and terminate the contract.

It’s a safest and surest method of guaranteed cash provision either at a specified time or at death (Allah forbid). Under these policies, the sum insured plus bonuses are payable at the end of the specified number of years or at death of the life insured if earlier. Premiums are payable for the specified number of years or till death, if earlier. The benefits under the plan can be further increased by attaching supplementary covers.

This policy will acquire a surrender value after it has been inforce for at least two consecutive years provided no premiums are in default. The surrender value will be quoted by State Life on request of the policyholder.

The plan serves the requirements of a family in various shapes by way of financial help at retirement, education of children or provision of capital for business.

This is a joint life plan and covers lives of two partners say husband and wife simultaneously. Premiums are payable till the end of the specified term or till death of either of the insured persons, if earlier. The plan contains extensive benefits; an overview of which appears as under:

On the death of the first life, the sum insured will be paid to the survivor. Further premiums under the policy will be waived, but the insurance protection of the second life will continue. Also, the policy will continue to participate in profits of the Corporation. On death of the second life, again the sum insured will be paid together with the attaching bonuses. In this event the policy will terminate.

If the second life survives the term of the policy, he or she will be paid sum insured together with the attached bonuses, even though the sum insured has been paid once, on the death of the first life. If both the lives survive the term of the policy, the sum insured will be paid to them jointly, only once, together with the attached bonuses. Different supplementary covers are also available for increasing coverage under the policy. Click here for supplementary covers.

Jeevan Sathi Plan is best suited for those married couples who want to enjoy insurance coverage for a comparatively lesser premium. Moreover, housewives who are otherwise not insurable can also enjoy the benefits of insurance policy through this plan.

NO DECLINTURE (ND) Scheme. This scheme is designed to cater to the Financial Protection Who are Unable to fulfill our Medical Requirements due to their Present State of Health (Suffering dread disease like Cancer, Heart disease, Hepatitis, Sugar, Blood pressure, etc).ND Policies will be charged an ND extra Premium based on Age. Life Cover doesn’t Start immediately. It will gradually build up to 100% as follows.

A) Death in First Year No Benefits is Payable.

B) Death in the 2nd Policy Year Only 2nd Year Premium Payable.

C) Death in 3rd & Later Policy Years Payment of Full Sum Assured & Bonuses Payable.

Note. Death Due to Accident in First 2 years Full Sum Assured Payable.