PLI:- A policy under this plan shall be available for ten years only26. The minimum sum assured under this plan shall be `10,000/- (`Ten thousand only) and the maximum limit taking total sum assured together under all plans shall not exceed `5,00,000/- (`Five lakh only), while the maximum limit in respect of the non-medical scheme, taking total sum assured together under all plans shall not exceed `25,000/- (`Twenty five thousand only).
A person who is not less than 19 years and not more than 45 years of age on his/her next birthday shall be eligible for this plan. Under this plan two installments of periodical survival benefits shall be payable to the insurant as a percentage of sum assured in case the insured survives the specific period as indicated below the premium table XI at the end of these rules and the remaining amount shall be payable at the time of maturity along with the bonuses accrued thereof.
In case of death of the insured person at any time during the term of the policy, full sum assured shall be payable along with the accrued bonus without adjustment of the survival benefit(s) already paid or which were due to be paid i.e. due survival benefit(s) which remain unpaid shall be paid along with the amount of claim. No surrender or loan facility shall be available under this plan. No conversion to/ from this plan is permissible.
In the event of cessation of premium before maturity age, the reduced paid up assurance will be granted, provided premiums have been paid for not less than three years, only at the date of maturity, that is at the end of stipulated plan term or on the death of life assured, and no further periodical payment on account of survival benefit will be paid.
VISION NMMS PRACTICE TEST 31-40 PAPER AND ANSWER KEY PDF