LIC%20Jeevan_Anand.pps

7/28/2019 LIC%20Jeevan_Anand.pps

1/11


2/11

Intro

features

benefits

illustrations


3/11

Intro

features

benefits

illustrations


4/11

Intro

features

benefits

illustrations

For how many years ispremium payable ?

You can choosepremium paymentterms between 5 and

57 years

Who can avail of this plan?Male lives and femalelives having their ownincome aged between 18

years (completed) and 65

years (near birthday)

For what sums is insuranceavailable under this plan ?

Minimum Rs. 1 lakh.Maximum : no limit, butdepends upon income

At what frequency canpremium be paid?

Yearly, Half-Yearly,Quarterly, SSS


5/11

Intro

features

benefits

illustrations

(A)Minimum entry age : 18 yrs (completed)(B) Maximum entry age : 50 yrs (nearer birthday)(C) Maximum maturity age : 60 years(D) Minimum Sum Assured for the Critical illness Rider : Rs.50,000/=(E) Minimum Sum Assured of the Main plan on which the Critical illness

Rider can be given: Rs.50,000

(F) Maximum Sum Assured : An amount equal to the Basic Sum for theCritical Illness Rider Assured, subject to a maximum of Rs.5,00,000.(G) Term : 10 to 35 years under regular premium

5 to 35 years under Single premiumand 15, 20 & 25 years under limited premium paying term policies.

This rider is allowed only if the maturity age under main policy is not

greater than 60 years.

The policy term and premium paying term of the rider should match withthe policy term and premium paying term under the main policy.

Critical Illness Rider : Eligibility


6/11

Intro

features

benefits

illustrations

Critical Illness Rider : Benefits

Critical Illness Sum Assured is payable on life assured surviving for a

period of 28 days from date of occurrence of any of the followingcritical illnesses-

Heart Attack (Myocardial Infarction)Stroke (Cerebro-vascular Accident)CancerKidney Failure

Major Organ transplantParalysis3rd Degree BurnsBlindnessCoronary Artery By-pass SurgeryHeart Valve Replacement or RepairAorta Graft Surgery

Premium Waiver Benefit:A policyholder has option to avail of a premium waiver benefitwhereby premiums falling due on or after the date of diagnosis ofcritical illness are waived till maturity date of the main plan or earlierdeath of the life assured.


7/11


8/11

When are benefits payable?

Intro

features

benefits

illustrations

Survival Benefit :

When the policyholdersurvives till date ofmaturity and policy is inforce,

Full sum assured +vested bonuses +final additional bonus,if any, is payable.

Risk cover continuesafter maturity,without need to pay

premium

Risk Cover :

On death during premiumpayment period,

Full sum assured +vested bonuses +final additional bonus,if any, is payable.

On death after premium

paying period,

Full sum assured ispayable.


9/11

Intro

features

benefits

illustrations

Age at entry: 35 years Premium paying term: 25 years

Mode of premium payment: Yearly Sum Assured: Rs.1,00,000/-

Annual Premium: Rs.4,535 /-

Illustrations

End of

Year

Totalpremium

paid till endof year

Benefit payable on survivalto the end of selected term

Guaranteed

Variable Total

Scenario1

Scenario 2 Scenario 1 Scenario 2

25 1,13,375 1,00,00041500 141000 141500 241000

26onwards

1,13,3751,00,000

**

- -1,00,000

**1,00,000

**


10/11

Intro

features

benefits

illustrations

Age at entry: 35 years Premium paying term: 25 years

Mode of premium payment: Yearly Sum Assured: Rs.1,00,000/-

Annual Premium: Rs.4,535 /-

End ofYear

Total premiumpaid till end of

year

Benefit payable on death during the selected term

Guaranteed *

Variable Total

Scenario 1

Scenario 2Scenari

o 1Scenario 2

1 4,535 1,00,000 1500 5100 101500 105100

2 9,070 1,00,000 3000 10200 103000 110200

3 13,605 1,00,000 4500 15300 104500 115300

4 18,140 1,00,000 6000 20400 106000 120400

5 22,675 1,00,000 7500 25500 107500 125500

6 27,210 1,00,000 9000 30600 109000 130600

7 31,745 1,00,000 10500 35700 110500 135700

8 36,280 1,00,000 12000 40800 112000 140800

9 40,815 1,00,000 13500 45900 113500 145900

10 45,350 1,00,000 15000 51000 115000 151000

15 68,025 1,00,000 22500 76500 122500 176500

20 90,700 1,00,000 33000 113000 133000 213000

25 1,13,375 1,00,000 41500 141000 141500 241000

Illustrations


11/11

Intro

features

benefits

illustrations

The illustration is applicable to a non-smoker male/female standard (from

medical, life style and occupation point of view) life.

The non-guaranteed benefits in the illustrations are calculated so that they

are consistent with the Projected Investment Rate of Return assumption of

6% p.a.(Scenario 1) and 10% p.a. (Scenario 2) respectively. In other words, in

preparing this benefit illustration, it is assumed that the Projected

Investment Rate of Return that LICI will be able to earn throughout the termof the policy will be 6% p.a. or 10% p.a., as the case may be. The Projected

Investment Rate of Return is not guaranteed.The main objective of the illustration is that the client is able to appreciate

the features of the product and the flow of benefits in different

circumstances with some level of quantification.Future bonus will depend on future profits and as such is not guaranteed.

However, once bonus is declared in any year and added to the policy, the

bonus so added is guaranteed.

Illustrations:Assumptions and Disclaimer

Documents

LIC%20Jeevan_Anand.pps