LEVEL TERM ASSURNCE
The unfortunate death of an individual besides causing much grief to near & dear ones imposes severe financial burden on the family of the deceased. The unexpected death leaves family members struggling to meet daily needs of life and deprives them of basic necessities.
Jubilee Life's Level Term Assurance Plan alleviates if not eliminates the financial burden of the deceased's family.
- The main feature of this plan is that at low premium cost, in the event of death of the Insured, a sum assured is paid to beneficiaries to enable them to meet expenses and settle unpaid loans & mortgages.
- The sum assured is a flat lump sum amount paid by Jubilee Life to the beneficiary. The sum assured, premium payment term, premium payment amount is selected by the Insured according to need and convenience.
For plan description, definitions and terms please refer to the brochure and standard policy conditions.
- Accidental Death (AD):
An additional amount will be paid under this benefit in case death occurs due to an accident. An additional premium will be charged. Terms & conditions apply.
- Accidental Death & Dismemberment (ADD):
An additional amount will be paid under this benefit in case death or dismemberment as per schedule occurs due to an accident. An Additional premium will be charged. Terms & conditions apply.
- Waiver of Premium (WOP):
Your premium from the next premium due date will be paid by Jubilee Life till the end of policy term should you suffer a disability and are not able to follow your own occupation or any other occupation due to this disability. An additional premium will be charged. Terms & conditions apply.
You can only opt for either the AD Benefit or the ADD Benefit and not both.
WOP Benefit can be selected along with the AD Benefit or the ADD Benefit
Persons between the ages 18 to 60 are eligible for insurance under the Level Term Assurance Plan. The person may choose a policy coverage term from between 10 to 25 years for the same premium payment term provided the period of cover should not extend beyond the individual’s 70th birthday.
Level Term Assurance being caused or aggravated by any condition existing prior to the commencement of risk and suicide within 13 months after policy issuance; policy reinstatement and / or enhancement of risk are not covered .
- Choose the Amount of Basic Cover and the Policy Term.
- Choose, if you so wish, rider(s) from available supplementary benefits.
- Calculate premium.
- Fill the application form and make online premium payment using Credit/Debit Card.