Rohini-Comparision Bet Traditional Of Future Generali & SBI

8/8/2019 Rohini-Comparision Bet Traditional Of Future Generali & SBI

1/26

Age criteria

Minimum Age at Entry 20 yearsMaximum Age at Entry 55 years

Minimum Age at Maturity NA

Maximum Age at Maturity 70 yrs

Policy termplan option-child 21

minimum policy term 8 yrs

maximum policy term 21 yrs

plan option-child 23



Premium paying termMin Premium Paying term-for child 21 5 yrs

Max Premium Paying term-for child 21 18 yrs

Min Premium Paying term-for child 23 5 yrs

Max Premium Paying term-for child 23 18 yrs

Sum assured

Minimum Sum Assured Rs.50,000

Maximum Sum Assured Rs.50,00,000

Premium

Minimum Premium/ Investment

Maximum Premium No Limit

Premium Payment Frequency

Riders Offered

Policy type particpating plan

Death benefit

Future child benefitplan

Depends on age, sum assuredand policy term as per companies

standard premium rate

Yearly ,Half yearly- 52% ofyearly premium,Quarterly-26.5%

of yearly premium,Monthly-8.83% of yearly prem (ECS)

Total Permanent DisabilityRider- In built in policy itself

Life Guardian Rider till age 18-In built in policy itself

Sum Assured - immeditely afterdeath to the nominee, balancepremium waived off and againmaturity benefit as per normal

plan


2/26

Plus Guaranteed additions

Plus vested bonus

Future Child Benefit @21 Plan

3 years prior to maturity 15%



At maturity







At maturity

Loan Facility

Tax benefit

Nomination

Assignment


2 lakh - 5 lakh 10.00

5 lakh - 8 lakh 11.00

8 lakh -10 lakh 11.50

Maturity Benefit

The final amount of fixed benefits as per the plan

Payable on the policyanniversary

% of SumAssured

35% + vestedbonus

+guaranteedadditions*

Payable on the policyanniversary

% of SumAssured

25% + vestedbonus


If policy acquired surrender value,loan is availableto the extent of 90% of surrender value in an in-

force policy and 85%in a paid-up policy

*Loan is applicableonly for those policies wherethe claims are not paid(death claim or ATPD

benefit availed )

Tax benefits will be as per section 80C &Section10(10D) of the Income Tax Act, 1961

As per Sec 39 of the Insurance Act 1938nomination is permitted any time before policy

matures for payment.

Assignment facility is avaible-Only the entirepolicy can be assigned and not

individual benefits or any part thereof

Sum Assured(Rs.)

scoun npremium (perRs1,000 Sum


3/26

10 lakh and above 11.70


2 lakh - 5 lakh 70.00

5 lakh - 8 lakh 75.00

8 lakh -10 lakh 77.00


Reinstatement

Premium Allocation ChargesREGULAR PREMIUM

1st Year Charges

Annualized Premium

Less than Rs. 25,000 22%

Rs. 25,000 to less than Rs.50,000 15%

Rs. 50,000 & over 10%

2nd Year 7.50%

3rd Year 5%

4th year onwards 2%

Single Premium 2%

Top Up 2%

REGULAR PREMIUM

Number of years premium paid Surrender charge as % of FV

Less than 1 100%

1 50%

2 35%

3 20%

4 10%

5 7%

6 5%

7 3%

8 3%

9 2%

10 or more Nil

Number of completed policy years Surrender charge as % of FV

3 1%

4 years or more Nil

FUND NAME COMPOSITION & MIX

FUTURE SECURE

grace

and the policy is not surrendered, within a periodof three years from the due date of first unpaid

premium

Money Market, Cash & ShortTerm Debt

Equity Instruments


4/26


5/26

HDFC Chidren's plan

Maximum investment - No limit

No riders available.

particpating plan

In this particular fund insurance coverwill not available

Only monthly SIP is available forinvestment,one time investment is also

available

Sum Assured - immeditely after deathto the nominee, balance premium

waived off and again maturity benefit asper normal plan


6/26

Loan not available

Tax benefits will be as per section 80C&Section 10(10D) of the Income Tax

Act, 1961

As per Sec 39 of the Insurance Act 1938nomination is permitted any time before

policy matures for payment.


7/26

Premium Allocation Charges

same as above

same as above

%OF AMT OF INVESTMENT

iInitially there was 2.25% entry load butnow there is no entry load available for

scheme.

iInitially there was 2.25% entry load butnow there is no entry load available for

scheme.

0-100%

0%


8/26

0-100%

0%

10-50%

50-90%

10-50%

70-90%


9/26

Age criteria

Minimum Age at Entry 20 yearsMaximum Age at Entry 55 years



Policy termplan option-



Premium paying termMin Premium Paying term 5 yrs

Max Premium Paying term 18 yrs

Sum assuredMinimum Sum Assured Rs.50,000


Premium

Minimum Premium/ Investment

Maximum Premium No Limit


Riders Offered


Death benefit

Plus vested bonus

Future child benefit-21 plan

Depends on age, sumassured and policy term as

per companies standardpremium rate

Yearly ,Half yearly- 52% of

yearly premium,Quarterly-26.5% of yearlypremium,Monthly-8.83% of

yearly prem (ECS)

Total Permanent DisabilityRider- In built in policy itselfLife Guardian Rider till age18-In built in policy itself

Sum Assured - immeditelyafter death to the nominee,

balance premium waived offand again maturity benefit

as per normal plan

The final amount of fixed benefits as perthe plan

Plus Guaranteedadditions


10/26



2 years prior to maturity 25%1 years prior to maturity 25%

At maturity

Loan Facility

Tax benefit

Nomination

Assignment

Rebate


2 lakh - 5 lakh 10.00

5 lakh - 8 lakh 11.00

8 lakh -10 lakh 11.50


Reinstatement

*Bonus declared- The reversionary bonus is usually declared annually as a persenta

Maturity Benefit Payable on the policyanniversary

% of SumAssured

35% + vestedbonus


If policy acquired surrender value,loan isavailable to the extent of 90% of surrender

value in an in-force policy and 85%in apaid-up policy

*Loan is applicableonly for those policieswhere the claims are not paid(death claim

or ATPD benefit availed )Tax benefits will be as per section 80C

&Section 10(10D) of the Income Tax Act,1961



Assignment facility is avaible-Only theentire policy can be assigned and notindividual benefits or any part thereof

Sum Assured(Rs.)

scoun n

premium (perRs1,000 Sum

If premiums are not duly paid within theperiod of grace

and the policy is not surrendered, within aperiod of three years from the due date of

first unpaid premium

Guaranteed additions*-During the first five policy years, guaranteed addition tothe sum assured (equal to 3.5% per annum compound


11/26

HDFC Chidren's plan

18 yrs60 yrs28 yrs

75 yrs

10 yrs

25 yrs

10 yrs

25 yrs

Rs40,000

No limit

Minimum premium-Rs.5000


particpating plan

Maximum premium - No limit, subject tounderwriting

Yearly ,Half yearly- 52% of yearlypremium,Quarterly-26.7% of yearlypremium,Monthly-option not available

Sum Assured - immeditely after death

to the nominee, balance premiumwaived off and again maturity benefit asper normal plan


12/26

Sum assured + *Bonus declared

Loan not available

No assignment facility is available

e of the basic sum assured.


Act, 1961



No rebate available for higher sumassured

No such kind of benefit is available withthis plan


13/26

Age criteria

Minimum Age at Entry 18 yrsMaximum Age at Entry 60 yrs

Minimum Age at retirement 40 yrs

Maximum Age at retirement 70 yrs

Policy termplan option-



Premium paying termMin Premium Paying term 5 yrs

Max Premium Paying term 18 yrs

Sum assured

Minimum Sum Assured Rs.50,000


PremiumMinimum Premium/ Investment Single Premium 25000

Yearly Rs. 10,000

Half-Yearly Rs. 5,500

Quarterly Rs. 3,000

Monthly

Maximum Premium Additional Single Premium


Riders Offered


Death benefit

Future PensionPlan

(by ECSonly) Rs.

1,000

Yearly ,Half yearly- 52% ofyearly premium,Quarterly-

26.5% of yearlypremium,Monthly-8.83% of

yearly prem (ECS)

Total Permanent DisabilityRider- In built in policy itselfLife Guardian Rider till age

18-In built in policy itself

Sum Assured - immeditelyafter death to the nominee,balance premium waived offand again maturity benefit

as per normal plan


14/26

Guaranteed addition

Loan Facility

Tax benefit

Nomination

Assignment

Rebate


2 lakh - 5 lakh 10.00

5 lakh - 8 lakh 11.00

8 lakh -10 lakh 11.50


Reinstatement

Maturity Benefit

5% to your accumulated pension fundafter 15 years (even if the

premiums are paid for only 5 years)

If policy acquired surrender value,loan is

available to the extent of 90% ofsurrender value in an in-force policy and

85%in a paid-up policy

*Loan is applicableonly for thosepolicies where the claims are notpaid(death claim or ATPD benefit

availedTax benefits will be as per section 80C&Section 10(10D) of the Income Tax

Act, 1961

As per Sec 39 of the Insurance Act1938 nomination is permitted any time

before policy matures for payment.Assignment facility is avaible-Only theentire policy can be assigned and notindividual benefits or any part thereof

Sum Assured(Rs.)

prem um

(perRs1,000

If premiums are not duly paid within theperiod of grace

and the policy is not surrendered, withina period of three years from the due

date of first unpaid premium


15/26

*Bonus declared- The reversionary bonus is usually declared annually as a persen

Guaranteed additions*-During the first five policy years, guaranteed addition tothe sum assured (equal to 3.5% per annum compound


16/26

HDFC Pension Plan

18 yrs60 yrs

50 yrs

70 yrs

10 yrs

40 yrs

10 yrs

40 yrs

Rs40,000

No limit

Minimum premium-Rs.5000


particpating plan

Maximum premium - No limit, subject tounderwriting

Yearly ,Half yearly- 52% of yearlypremium,Quarterly-26.7% of yearly

premium,Monthly-option not available

Sum Assured - immeditely after deathto the nominee, balance premium

waived off and again maturity benefit asper normal plan


17/26

Sum assured + *Bonus declared

Loan not available

No assignment facility is available


Act, 1961



No rebate available for higher sumassured

No such kind of benefit is available withthis plan


18/26

tage of the basic sum assured.


19/26

Future Care Plus HDFC Protection planMinimum Age at Entry 12 yrs

Maximum Age at Entry 60 yrs



Min Premium Paying term 3No specified term is available

Max Premium Paying term 3

Minimum Term 10 yrs

Maximum Term 10 yrs Maximum term is not applicable.

Minimum Sum Assured 5 * Annual PremiumNo insurance cover is available with this fund

Maximum Sum Assured M *Annual Premium

Minimum Premium

Maximum Premium No Limit No Limit


Riders Available 1) Critical Illness Benefit (CI)

2) Accidental Death Benefit (ADB)

3) Accerelated sum assured benefit(ASA)

Investment Funds

Death benefit Fund Value= No of units X NAV

Maturity Benefit

Loan Facility Loan not available Loan not available

Premium Allocation Premium Allocation

Charges1st year 5% of regular premium

2nd & 3rd year 2% of regular premium

Factor M

Age At Entry Multiple Factor

Up to issue age 25 85

26 Yrs 35 Yrs 5536 Yrs 45 Yrs 25

46 Yrs 50 Yrs 15

51 Yrs 55 Yrs 11

56 Yrs 60 Yrs 8Surrender charges

Number of completed Policy years render charge as a % of fund v

1 year or less 25%

More than1 but less than or equal to 2 15%

More than 2 but less than or equal to 3 10%

More than 3 but less than or equal to 5 5%

No specific age criteria defined for investmentin mutual fund but any one who have numberon his own name can apply for investment in

mutual fund

Minimum three years investment is veryimportant in this particular scheme.

Min-1st year Rs.50,000,Min-2nd&3rd year Rs.10,000

For SIP investment minimum amount Rs. is500 and for one time investment Rs. 5000

Yearly ,Halfyearly,Quarterly,Monthly (ECS)

Only monthly SIP is available forinvestment,one time investment is also

available

Future SecureFuture IncomeFut

Equity and related instruments-Not more than25%.,Debt instruments (including Securitized

debt) and Govt. Securities and Money marketinstruments-Uto 100%. Securitized Debt -Not

more than 10% of investments in debt

For In force policy it is higher ofthe fund value or sumassured(less partial

withdrawal(excluding top upsingle premiums) 2 years prior to

death

fund value + top-up account

value valued at unit price

fund value + top-up account value valued at

unit price.

Premium Allocation Charges(year wise) No Charges,only fund management charges

are available.

Insurance cover multiple factor is notapplicable for this fund.

No surrender charges available, but ifwithdrawn with in 1 year : 3%; within 2 years :

2%; Within 3 years:1%, Exit Load will beapplied.
http://opt/scribd/conversion/tmp/scratch2443/http://opt/scribd/conversion/tmp/scratch2443/


20/26

More than 5 Nil


21/26

Minimum Age at Entry 18 years 18 yrs

Maximum Age at Entry 78 years (SP) / 75 years (RP) No Limit

Minimum Age at Retirement 40 yrs

Maximum Age at Retirements 80 yrs

Minimum Term 2 years (SP) / 5 years (RP) From investment- three years

Maximum Term Maximum term - No limit

Minimum Contribution



Riders Offered Term Rider

Death benefit Fund Value Fund Value

Maturity Benefit Fund Value Fund Value

Loan Facility Not available Not available

FREE LOOK PERIOD

Future PensionAdvantage

This is a pension plan premium are paid inregular intervals for a chosen term andaccumulated to form capital to purchse annuityor pension pay out.Has an option to chose aterm rider (Ulip)

SBI Magnum Taxgain

Scheme 1993

whenever investor wants money

can get, after lock in period of 3years.

Maximum : 45 years (in multiple of 1 year)The term for Term Assurance rider will be equalto the basic plan term, subject to maximum of30 years allowed under term assurancerider.

2-5 years Rs 70,0006 years & above- Rs 50,000 for single premium

5-9 years -Rs 20,00010 years & above -Rs 15,000 for regular

premium

Rs. 500 and Multiples of Rs500

Single premium,Yearly, Half-Yearly, Quarterly,Monthly (ECS)

Rs.500/month - 12 monthsRs.1000/month - 6months

Rs.1500/quarter - 12 months

No riders are available under thisscheme

Investment Funds & Charges

(click on the hyperlink)Future Pension SecureFuture Pension BalanceF

Equity,PCDs and FCDs and bonds-80-100%,Money marketinstruments-0 20% .

Customer can return his policy within 15 days ofreceipt of the policy documents.

once applied only prematurewithdral is the options


22/26

ADVANTAGES

SWITCHES

PREMIUM REDIRECTION Not available

Term Rider

Not available

Minimum/Maximum Entry Age 18 60 years

inimum/Maximum age at maturit 40 65 years

Rs.75,000

Minimum/Maximum policy term 5 30 years

Minimum/ Maximum premium

scontinuance of Premium Paym Rider will be discontinued

Surrender ChargePolicy Year Policy Term (Less than 15 yrs)

Year 0 100%

Year 1 10%

Year 2 5%

Year 3 onwards Nil

Premium Allocation ChargesREGULAR PREMIUM

1st Year Charges

Annualized Premium Allocation charge as % of premium

Rs 15,000 Rs 49,999 15%

Supplement to retirement income planning Provides valuable life cover (optional) Both regular & single premium option

Flexibility in selection of vesting age (40 80yrs)

Minimum term as low as 2 years (For SinglePremium Option Only)

No allocation charge from 2nd year onwards

(Regular Premium) No surrender charge from 3rd year Onwards

( Regular premium) No surrender charge in case of SP option

Attractive FMC 1 - 1.25% Maximum equity exposure 100%

Policy Administration Charge NIL for pensionoption

Tax benefits u/s 80CCC

1 Best ELSS scheme which isvery handy for tax saving

purpose.2 No capital gain tax forlong term investment. 3 Flexibilityof investment amount Rs. 500 tono limit 4 Minimum lock in period

of three years from theinvestment. 5 No entry and No

exit load. 6 Very low fundmanagement charges. 7 Facility

to book profit by taking diviendoptions while investment. 8

Switchover facility to any otheropen-ended schemes of SBIMutual Fund at NAV related

prices available after thestatutory lock-in period.

At any point of time the policyholder has anoption to switch some or all of the units from

one unit linked fund to another 12 free switches

Switch request is done in percentage orabsolute amount.

Min. amount: Rs.10,000 with no condition ofmultiple.

Switch request is received before 3.00 p.m,.Closing NAV of the day is applicable.

Switch request is received after 3.00 p.m,.Closing NAV of the next business day is

applicable

only after complition of threeyears the unitholder has an

option to switch some or all ofthe units from fund to another

equity scheme of SBI M.F. No limits on free switches. Switch request is done in

number of units or in amount. Switch request is received

before 3.00 p.m,. Closing NAV ofthe day is applicable.

Switch request is received after3.00 p.m,. Closing NAV of the

next business day is applicable

This facility is available free of cost and limitedto one in a policy year

Minimum Sum Assured (for withTerm Assurance Rider)

Not applicable as charge will be recoveredby cancellation of units

No surrender charges areapplicable.

No Entry load or initialinvestment charges are


23/26

Rs 50,000 Rs 99,999 14%

Rs 100,000 & Above 13%

2nd Year 5%

3rd year onwards Nil

Single Premium 4.5% same as above

Top Up 1.5% same as above

applicable


24/26

Minimum Age at Entry 18 years 18 yrs

Maximum Age at Entry 78 years (SP) / 75 years (RP) No Limit

Minimum Age at Retirement 40 yrs

Maximum Age at Retirements 80 yrs

Minimum Term 2 years (SP) / 5 years (RP) From investment- three years

Maximum Term Maximum term - No limit

Minimum Contribution



Riders Offered Term Rider

Death benefit Fund Value Fund Value

Maturity Benefit Fund Value Fund Value

Loan Facility Not available Not available

FREE LOOK PERIOD

Future PensionAdvantage

This is a pension plan premium are paid inregular intervals for a chosen term andaccumulated to form capital to purchse annuityor pension pay out.Has an option to chose aterm rider (Ulip)

SBI Magnum Taxgain

Scheme 1993

whenever investor wants money

can get, after lock in period of 3years.

Maximum : 45 years (in multiple of 1 year)The term for Term Assurance rider will be equalto the basic plan term, subject to maximum of30 years allowed under term assurancerider.

2-5 years Rs 70,0006 years & above- Rs 50,000 for single premium

5-9 years -Rs 20,00010 years & above -Rs 15,000 for regular

premium

Rs. 500 and Multiples of Rs500

Single premium,Yearly, Half-Yearly, Quarterly,Monthly (ECS)

Rs.500/month - 12 monthsRs.1000/month - 6months

Rs.1500/quarter - 12 months

No riders are available under thisscheme

Investment Funds & Charges

(click on the hyperlink)Future Pension SecureFuture Pension BalanceF

Equity,PCDs and FCDs and bonds-80-100%,Money marketinstruments-0 20% .

Customer can return his policy within 15 days ofreceipt of the policy documents.

once applied only prematurewithdral is the options


25/26

ADVANTAGES

SWITCHES

PREMIUM REDIRECTION Not available

Term Rider

Not available

Minimum/Maximum Entry Age 18 60 years

inimum/Maximum age at maturit 40 65 years

Rs.75,000

Minimum/Maximum policy term 5 30 years

Minimum/ Maximum premium

scontinuance of Premium Paym Rider will be discontinued

Surrender ChargePolicy Year Policy Term (Less than 15 yrs)

Year 0 100%

Year 1 10%

Year 2 5%

Year 3 onwards NilPremium Allocation Charges

REGULAR PREMIUM

1st Year Charges

Annualized Premium Allocation charge as % of premium

Rs 15,000 Rs 49,999 15%

Rs 50,000 Rs 99,999 14%

Rs 100,000 & Above 13%

2nd Year 5%

3rd year onwards Nil

Single Premium 4.5% same as above

Supplement to retirement income planning Provides valuable life cover (optional) Both regular & single premium option

Flexibility in selection of vesting age (40 80yrs)

Minimum term as low as 2 years (For SinglePremium Option Only)

No allo

1 Best ELSS scheme which isvery handy for tax saving

purpose.2 No capital gain tax forlong term investment. 3 Flexibilityof investment amount Rs. 500 tono limit 4 Minimum lock in period

of three years from theinvestment. 5 No entry and No

exit load.

At any point of time the policyholder has an

option to switch some or all of the units fromone unit linked fund to another

12 free switches Switch request is done in percentage or

absolute amount. Min. amount: Rs.10,000 with no condition of

multi

only after complition of threeyears the unitholder has an

option to switch some or all ofthe units from fund to another

equity scheme of SBI M.F. No limits on free switches. Switch request is done in

number of units or in amount. Switch reques

This facility is available free of cost and limitedto one in a policy year

Minimum Sum Assured (for withTerm Assurance Rider)

Not applicable as charge will be recoveredby cancellation of units

No surrender charges areapplicable.

No Entry load or initialinvestment charges are

applicable


26/26

Documents

Rohini-Comparision Bet Traditional Of Future Generali & SBI