The aim of Jan Sewa Bima Yojna is to offer a single fixed cover and fixed price package insurance primarily to rural and semi-urban householders.
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BUY/RENEW POLICYThe aim of Jan Sewa Bima Yojna is to offer a single fixed cover and fixed price package insurance primarily to rural and semi-urban householders. Through this policy, you can avail comprehensive insurance protection for your entire assets, interests, liability and self.
This rural insurance policy in India comprises of 3 sections.
Sections |
Option-1 |
Option-2 |
---|---|---|
Section 1: Fire - Contents |
Rs.1,00,000 |
Rs. 50,000 |
Section 2: Burglary |
Rs.1,00,000 |
Rs. 50,000 |
Section 3A: Personal Accident |
Rs. 50,000 |
Rs.2,00,000 |
Section 3B: Education Protection Cover |
Rs. 50,000 |
Rs.2,00,000 |
Premium (Excluding Tax) |
Rs.275/- |
Rs.348/- |
Cancellation
We may cancel this Policy by sending 15 days’ notice in writing by Regd. A.D. to You at Your last known address. You will then be entitled to a pro-rata refund of premium for the unexpired period of this Policy from the date of cancellation, which We are liable to repay on demand. You may cancel this Policy by sending a written notice to Us. We will then arrange a refund after retaining the premium based on the following Short Period scale.
Cancellation Period |
Refund |
---|---|
Within One Week of inception of cover |
25% of premium |
Beyond One Week of inception of cover but within 15 days of inception of cover. |
12.5% of Premium |
Beyond 15 days of inception of cover |
NIL
|
Documents/information required for a claim settlement is as follows: -
Fire Claim
Burglary Claim
Personal Accident claim
We may cancel this Policy by sending 15 days’ notice in writing by Regd. A.D. to You at Your last known address. You will then be entitled to a pro rata refund of premium for the unexpired period of this Policy from the date of cancellation, which We are liable to repay on demand. You may cancel this Policy by sending a written Notice to Us. We will then arrange a refund after retaining the premium based on the following Short Period scale.
Cancellation Period |
Refund |
Within One Week of inception of cover |
25% of premium |
Beyond One Week of inception of cover but within 15 days of inception of cover. |
12.5% of Premium |
Beyond 15 days of inception of cover |
NIL |
1. The insurance coverage offered under Section 1 & 2,i.e. Fire and Burglary, is provided only on a First Loss Basis, with the insured amount representing 50% limit of total value at risk. Underinsurance would be applicable in case the value at risk exceeds twice the sum insured.
2. The proposer’s age limit is 18 to 70 years
3. The age limit for insured persons, besides the proposer, shall be 5 to 70 years
4. This policy is a non-floating cover, meaning only the named insured person(s) shall be covered under the policy.
5. This rural insurance insurance policy can be sold on an individual or group basis.
6. Personal accident claims are to be settled on the basis of the table of benefits only.
7. In case of death of the insured, the total amount payable under section 3(B) shall be deposited in a Scheduled Commercial Bank’s account as per the child’s preference, which may be expressed via his/her guardian. Withdrawal from the same can be made as per annualized instalment which is as explained below: -