Product/policy: Gurans Life Insurance Company ltd.

Product/Policy:GuransLife Insurance Company

Gurans Endowment with Profit Policy
The most popular form of life assurance since it makes provision for the family of the Assured in the event of early death, as also assures a lump sum amount at a desired age. The amount assured, if not paid by reason of earlier death becomes payable at the end of the endowment term.
Premiums are payable for a term of years equal to the endowment term or until death if it occurs within this period.
If payment of premiums is discontinued after at least two years premiums have been paid, a paid up policy for an amount bearing the same proportion to the sum assured as the number of premiums actually paid bears to the number stipulated for in the policy, will be automatically secured. Such reduced paid up policy will not be entitled to participate in the profits declared thereafter.
Key Feature

:: Minimum Entry Age : 16 Years

:: Maximum Entry Age : 65 Years

:: Minimum Policy Term: 5 Years

:: Maximum Policy Term: 59 Years

:: Maximum Maturity Age : 70 Years

:: Minimum Sum Assured: Rs. 25 Thousand

:: Premium Payment Frequency : Yearly/Half Yearly/QuarterlyBenefits

:: Sum assured plus bonus in case of the maturity

:: Sum assured plus bonus will be paid to nominated person in case of death of the assured.

:: Loan facility

:: Tax benefitsAdditional Benefits

:: Premium Waiver

:: Double Accident Benefit:: Money Back

:: Monthly Income Benefit

:: Permanent Total Disability Benefit

:: Rider Benefit

Gurans Money Back Endowment with Profit Policy
This policy is of special interest to persons who, besides desiring to provide for their own old age and family, feel the need for lump sum benefits at periodical intervals. Unlike ordinary Endowment Assurance, where the full Sum Assured in the event of survivance is payable only at the end of the endowment period, under this scheme:
a. 15 Years Gurans Money Back 25% of Sum Assured at the end of 5 years25% of Sum Assured at the end of 10 years25% of Sum Assured at the end of 15 years with Bonus

b. 20 Years Gurans Money Back 25% of Sum Assured at the end of 5 years25% of Sum Assured at the end of 10 years25% of Sum Assured at the end of 15 years25% of Sum Assured at the end of 20 years with Bonus
However, in the event of death at any time within the selected term, the full sum assured is payable without any deduction or adjustment for the amount that may have been paid earlier by way of survival benefit.
Premiums are payable for the second term years or till death if it occurs within this period.
The bonus additions to the policy will be reckoned on the full sum assured and are payable at the end of the selected term or at the life assured's death, if previous.
In the event of cessation of the premium under this policy, paid-up assurance, payable at the end of the selected term of years or at the life assured's death if previous, is automatically secured provided premiums have been paid under the policy for not less than two years and a minimum paid-up assurance of Rs.1000/- exclusive of any attached bonus secured.
Key Feature

:: Minimum Entry Age : 16 Years

:: Maximum Entry Age : 55 Years

:: Policy Term: 20 Years :: Maximum Maturity Age : 70 Years

:: Minimum Sum Assured: Rs. 50 Thousand Additional Benefits:: Premium Waiver

:: Double Accident Benefit:: Money Back

:: Monthly Income Benefit:: Permanent Total Disability Benefit

:: Rider Benefit

Temporary Term Assurance Plan for Expatriates
This policy is for people going abroad to work.
Key Feature

:: Minimum Entry Age : 18 Years

:: Maximum Entry Age : 55 Years

:: Minimum Policy Term: 1 Years

:: Maximum Policy Term: 5 Years

:: Maximum Maturity Age : 60 Years
Benefits

a) On Death of Life Assured during the term of the policy: Full Sum Assured + Body Repatriation Charges(Maximum upto Rs. 50, 000)

b) On Survival to Maturity Date : NIL
c) Benefit payable in the event of accident and sickness resulting in loss of
i. Both hands or both feet or loss of sight of both eyes : 100% of full Sum Assuredii. One hand and one foot : 100% of full Sum Assurediii. Either hand or one foot and sight of one eye : 100% of full Sum Assurediv. Hearing of both ears : 50% of full Sum Assuredv. Either hand or foot : 50% of full Sum Assuredvi. Sight of one eye : 50% of full Sum Assured
d) Premium payable : Single Premium

Gurans Jiwan Shri Life Insurance Policy
Key Feature

:: Minimum Entry Age : 16 Years

:: Maximum Entry Age : 65 Years :: Minimum Policy Term: 5 Years

:: Maximum Policy Term: 54 Years

:: Maximum Maturity Age : 70 Years:: Minimum Sum Assured: Rs. 1 Lac

:: Premium Payment Frequency : Yearly/Half Yearly/QuarterlyBenefits

:: Sum assured plus bonus in case of the maturity

:: Sum assured plus bonus will be paid to nominated person in case of death of the assured.

:: Loan facility

:: Tax benefitsAdditional BenefitsDouble accident benefit is available with nominal extra premium. In case of the death of the assured, a nominee will receive assured amount, bonus plus Rs. 5 lac (maximum).

Gurans Bal Surakchya Life Insurance Policy
The policy is designed specially to ensure planned cash flow for your child's education, marriage etc. with options to provide Premium Waiver and Monthly Income Benefit. Commencement of Risk Risk of the child will commence either 2 years after the date of commencement or from the policy anniversary falling immediately after the completion of age 6 of child, whichever is later. However, in case of child's age at entry being 15 years risk will commence from one year after date of commencement.Vesting of Policy The Policy will vest in the Life Assured from the policy anniversary following his completion age of 16 years.
BonusThe Policy will participate in the profits (Bonuses) during the premium paying term subject to the policy being in full force on the date of valuation. However, the bonus will vest only from the date of commencement of risk.
Maturity Benefit The Sum Assured along with vested bonus is payable on Date of Maturity.Should the prosper opt for Premium Waiver Benefit and/or Monthly Income Benefit (as explained herein below), it will not in any way reduce the maturity benefit.
Death of Benefit In case of Life Assured (Child) dies any time after commencement of risk, full Sum Assured with the vested bonuses will be paid immediately in entire cancellation of the policy contract.
Refund of Premiums In case of Life Assured (Child) dies before commencement of risk, all the premiums paid excluding extra premiums, if any (heath extra and premium for optional benefits viz. premium waiver and Monthly Income benefit) will be refunded.Medical RequirementsFor the purpose of deciding the medical examination requirements on the life of the prosper (parent) for optional benefits the "total risk cover" will be taken as:
i. (Annual premium for basic cover on child's life) X (total number of annual premiums payable) for "Premium Waiver" benefit. And / orii. 1% of Sum Assured x 12 x Term of the policy as Sum Assured payable under "Monthly Income" benefit.
Medical Examination is compulsory for granting PWB and/or MIB benefit/s.No medical for Child (Life Assured) ages 0 to 10 years of age.Compulsory Medical examination for Child ages 11 to 15 years.
Key Feature

:: Minimum Entry Age : 0 Years

:: Maximum Entry Age : 15 Years

:: Minimum Policy Term: 5 Years

:: Maximum Policy Term: 16 or 20 years

:: Maximum Maturity Age : Completion of 20 Years

:: Minimum Maturity Age : Completion of 16 Years

:: Minimum Sum Assured: Rs. 50 Thousand

:: Maximum Sum Assured: Rs. 20 Lac

:: Premium Payment Frequency : Yearly/Half Yearly/Quarterly
Benefits

:: For child's education:: Assist in starting up business

:: To insure child's future in case of untimely death or physical disability of the parents

:: Encashment at the time of wedding and other such rituals

:: Bonus

:: Tax benefitsAdditional Benefits

:: Premium Waiver

:: Monthly Education Facility

POST by Bijay Thapa. bijay-lifeinsurance.blogspot.com