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Limited PaymentLimited PaymentEndowment PlanEndowment PlanAttractionsAttractions
Flexible Version ofFlexible Version of
LIC’s most popularLIC’s most popular
Endowment Plan Endowment Plan
Choice of several
Choice of several premium payment terms
premium payment terms available to suit
available to suit your convenience
your convenience
Simple,Simple,easy to understandeasy to understand
Table 48
Table 48
Limite
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Limite
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Endowment Plan
Endowment Plan
Savings Oriented
Savings Oriented
High BonusHigh Bonus
High liquidityHigh liquidity
Intro
Features
Benefits
illustrations
Limited PaymentLimited PaymentEndowment PlanEndowment PlanFeaturesFeatures
Who can avail of this plan?
Who can avail of this plan?
Those aged between Those aged between
12 years (completed) and
12 years (completed) and
55 years.55 years.
Table 48
Table 48
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Endowment Plan
Endowment Plan
ForFor how many years is how many years is
premium payable?premium payable?
Options for premium
Options for premium payment terms are
payment terms are 5,10,15,20 & 25 years.
5,10,15,20 & 25 years.
For what durations
For what durations is risk covered ?
is risk covered ? Quinquennial Quinquennial Policy Policy
Terms Terms between 5 and 50
between 5 and 50 years.years. Maximum maturity
Maximum maturity age age allowed is 75
allowed is 75 years. years.
For For how many how many
years is premium
years is premium
payable?payable?
Options for Options for
premium premium
payment terms payment terms
are are 5,10,15,20 & 255,10,15,20 & 25
years.years.
Intro
Features
Benefits
illustrations
Table 48
Table 48
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Endowment Plan
What are the benefits of the term assurance rider ?On death of the Life Assured during the term of cover under the rider, an amount equal to the Term Assurance Sum Assured is payable. The rider can be availed of by payment of a small additional premium.
Who can avail of the rider ?Those aged between age 18 years (completed) and 50 years (nearer birthday).The maximum age at maturity is 60 years.
What is the minimum and maximum sum assured allowed ?The minimum Sum Assured for the Term Rider is Rs. 1,00,000 and maximum sum assured is an amount equal to the Basic Sum Assured,subject to a maximum overall limit of Rs. 25,00,000.
Optional benefitsOptional benefits
Term Assurance Term Assurance RiderRider
Intro
Features
Benefits
illustrations
Table 48
Table 48
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Endowment Plan
Optional benefitsOptional benefits
Term Assurance Term Assurance RiderRider
What are the terms allowed ?
The policy terms allowed are 10 to 35 years under regular premium policies;
5 to 35 years under Single premium policies and
15, 20 and 25 years under limited premium paying term policies.
This rider is allowed only if the age at maturity under the main policy is less than or equal to 60 years.
The policy term and premium paying term of the rider should match with the policy term and premium paying term under the main policy
Intro
Features
Benefits
illustrations
Table 48
Table 48
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Endowment Plan
Optional benefitsOptional benefits
Critical Illness Critical Illness Rider: EligibilityRider: Eligibility
(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 illnessRider : 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 the Critical 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 premium and 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.
Intro
Features
Benefits
illustrations
Table 48
Table 48
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Endowment Plan
Optional benefitsOptional benefits
Critical Illness Critical Illness Rider: BenefitsRider: 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 following critical illnesses-
Heart Attack (Myocardial Infarction) Stroke (Cerebro-vascular Accident) Cancer, Kidney Failure, Major Organ transplant Paralysis, 3rd Degree Burns, Blindness Coronary Artery By-pass Surgery Heart Valve Replacement or Repair Aorta Graft Surgery
Premium Waiver Benefit: A policyholder has option to avail of a premium waiver benefit whereby premiums falling due on or after the date of diagnosis of critical illness are waived till maturity date of the main plan or earlier death of the life assured.Intro
Features
Benefits
illustrations
Limited PaymentLimited PaymentEndowment PlanEndowment PlanBenefitsBenefits
The policy participates in The policy participates in profits. Vested bonus and profits. Vested bonus and terminal bonus, if any, are terminal bonus, if any, are paid at the time of maturitypaid at the time of maturity or death if earlieror death if earlier. .
Table 48
Table 48
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Endowment Plan
Death Cover : Death Cover :
On unfortunate death
On unfortunate death
during the term of the
during the term of the
policy, sum assured plus
policy, sum assured plus
vested bonus plus final
vested bonus plus final
additional bonus, if any, is
additional bonus, if any, is
payable, provided policy
payable, provided policy
is in full force.is in full force.
Maturity benefit
Maturity benefit On survival upto date of
On survival upto date of
maturity, sum assured plus
maturity, sum assured plus
vested bonus plus final
vested bonus plus final
additional bonus, if any, is
additional bonus, if any, is
payable, provided policy is in
payable, provided policy is in full forcefull force
Accidental cover is Accidental cover is
available under the policy available under the policy
on payment of small on payment of small
additional premium.additional premium.
Loan is available under the
Loan is available under the
policy.policy.Intro
Features
Benefits
illustrations
Table 48
Table 48
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Endowment Plan
illustrations
Benefit payable on death / maturity at the end of year
Variable Total End of
year
Total premiums paid till end of year
Guaranteed Scenario 1
Scenario 2
Scenario 1
Scenario 2
1 4,464 100,000 2,100 5,700 102,100 105,700 2 8,928 100,000 4,200 11,400 104,200 111,400 3 13,392 100,000 6,300 17,100 106,300 117,100 4 17,856 100,000 8,400 22,800 108,400 122,800 5 22,320 100,000 10,500 28,500 110,500 128,500 6 26,784 100,000 12,600 34,200 112,600 134,200 7 31,248 100,000 14,700 39,900 114,700 139,900 8 35,712 100,000 16,800 45,600 116,800 145,600 9 40,176 100,000 18,900 51,300 118,900 151,300 10 44,640 100,000 21,000 57,000 121,000 157,000 15 66,960 100,000 31,500 85,500 131,500 185,500 20 89,280 100,000 56,000 152,000 156,000 252,000 25 89,280 100,000 69,500 189,500 169,500 289,500
Age at entry: 35 years Policy Term: 25 yearsPremium paying term: 20 years Mode of premium payment: Yearly; Sum Assured: Rs.1,00,000/- Annual Premium : Rs. 4464/-
Intro
Features
Benefits
illustrationsillustrations
Table 48
Table 48
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Endowment Plan
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Benefit payable on death / maturity at the end of year
Variable Total End of year
Total premiums
paid till end of year Guaranteed Scenario
1 Scenario
2 Scenario 1 Scenario 2
1 55,215 1,00,000 2,400 9,200 102,400 109,200 2 55,215 1,00,000 4,800 18,400 104,800 118,400 3 55,215 1,00,000 7,200 27,600 107,200 127,600 4 55,215 1,00,000 9,600 36,800 109,600 136,800 5 55,215 1,00,000 12,000 46,000 112,000 146,000 6 55,215 1,00,000 14,400 55,200 114,400 155,200 7 55,215 1,00,000 16,800 64,400 116,800 164,400 8 55,215 1,00,000 19,200 73,600 119,200 173,600 9 55,215 1,00,000 21,600 82,800 121,600 182,800 10 55,215 1,00,000 24,000 92,000 124,000 192,000 15 55,215 1,00,000 36,000 138,000 136,000 238,000 20 55,215 1,00,000 64,000 245,000 164,000 345,000 25 55,215 1,00,000 80,000 306,000 180,000 406,000
Age at entry: 35 years Policy Term: 25 years
Premium paying term: one Sum Assured: Rs.1,00,000/- Single Premium: Rs.55,215 /-
IntroIntro
FeaturesFeatures
BenefitsBenefits
illustrationsillustrations
Table 48
Table 48
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Endowment Plan
Endowment Plan illustrationsThis illustration is applicable to Non-smoker male/female standard
(from medical, life style & occupation point of view) life. The non-guaranteed benefits (1) and (2) in above illustration 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 preparing this benefit illustration, it is assumed that the Projected Investment Rate of Return that LICI will be able to earn throughout the term of 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. Loyalty additions will depend on future profits and as such is not guaranteed.. The Maturity Benefit is amount shown at the end of the policy term.
Assumptions and Disclaimer
IntroIntro
FeaturesFeatures
BenefitsBenefits
illustrationsillustrations
Table 48
Table 48
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Limite
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Endowment Plan