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Lic jeevan shree 162
Lic jeevan shree 162
Lic jeevan shree 162
Lic jeevan shree 162
Lic jeevan shree 162
Lic jeevan shree 162
Lic jeevan shree 162
Lic jeevan shree 162
Lic jeevan shree 162
Lic jeevan shree 162
Lic jeevan shree 162
Lic jeevan shree 162
Lic jeevan shree 162
Lic jeevan shree 162
Lic jeevan shree 162
Lic jeevan shree 162
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Lic jeevan shree 162

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  • 05/22/13
  • Transcript

    • 1. Create a large capital at a low cost.Create a large capital at a low cost.Exclusive policy for people with anExclusive policy for people with anexclusive life styleexclusive life styleFlexibility of premium payments –Flexibility of premium payments –premium payment liability can bepremium payment liability can befulfilled in a shorter period.fulfilled in a shorter period.Features Benefits IllustrationsIntro
    • 2. Guaranteed Additions during the first 5Guaranteed Additions during the first 5years and participating in profitsyears and participating in profitsthereafter.thereafter.High Liquidity : Special Surrender valueHigh Liquidity : Special Surrender valuecan be available after 1 year subject tocan be available after 1 year subject toconditions. Loan available on paymentconditions. Loan available on paymentof premiums for at least 1/10th of theof premiums for at least 1/10th of thePPT.PPT.Intro Features Benefits Illustrations
    • 3. Accident cover and term rider benefitsAccident cover and term rider benefitscontinue even after premium is fullycontinue even after premium is fullypaid up.paid up.Option to choose premium paymentOption to choose premium paymentterms to suit your convenience.terms to suit your convenience.Bonus continues to accrue even afterBonus continues to accrue even afterpremium is fully paidpremium is fully paid..Ideal plan for Key Man InsuranceIdeal plan for Key Man Insurance..Intro Features Benefits Illustrations
    • 4. Features Benefits IllustrationsIntroWho can avail of this plan?Those aged between 18 years (last birthday) and65 years (near birthday)• For how many years will risk be covered?Policyholder can choose one of the following ‘policy terms : 5,10,15,20 or 25 years.For how many years is premium payable?Policyholder can choose one of the followingpremium terms: Single,2,3,4,6,8,10,12,16 years.
    • 5. Features Benefits IllustrationsIntroFor what sums is the policy available?Minimum Sum Assured is Rs. 5 lakhs; and inmultiples of Rs. 1 lakh thereafter.Maximum Sum Assured depends upon incomeMaximum Maturity age?Maximum maturity age is 75 years.Is Loan available under this plan?Yes, loan is available under this plan.Is term rider available?Yes, term rider is available up to Rs. 25 lakhs.
    • 6. Features Benefits IllustrationsIntroTerm Assurance RiderTerm Assurance RiderTerm Assurance as optional rider will beavailable under this plan.Premiums for this option are payable duringthe premium paying term and an amount equalto Term Assurance Sum Assured will be payableon death during the policy term.The premium for this option will be payable inaddition to the premium under the basic
    • 7. Age PolicyTermPrem.TermSum Assured Rs.5 lakhs 8 lakhs 10 lakhs 15 lakhs20 25 16 24377 39004 48755 7313225 25 16 24475 39161 48951 7342630 25 12 29841 47746 59682 8952335 25 16 25186 40298 50372 9114040 25 16 26019 41630 52038 78057Intro Features Benefits Illustrations
    • 8. Features Benefits IllustrationsIntroOn survival upto maturity, an amountequal to the Sum Assured plusplusvested guaranteed additions of Rs. 50 perthousand sum assured plusplus reversionarybonuses, as declared from 6thyearonwards, shall be paid.• Participation in profits:The policy shall participate in surplus from6th year onwards & entitled for Bonusesdeclared as per the experience of LICI.
    • 9. Features Benefits IllustrationsIntroOn death during the first 5 policy years -An amount equal to the sum assured plusplusvested guaranteed additions of Rs. 50 perthousand sum assured shall be paid..On death after first 5 policy years –An amount equal to the Sum Assured plusplusvested guaranteed additions of Rs. 50 perthousand sum assured plusplus reversionarybonuses, as declared from 6thyearonwards shall be paid.
    • 10. End ofyear  Total Premium paidtill end of year Death Benefit / Maturity Benefit (Rs.) payable at end of yearGuaranteedVariable TotalScenario 1 Scenario 2 Scenario 1 Scenario 21 25186 500000 0 0 500000 5000002 50372 525000 0 0 525000 5250003 75558 550000 0 0 550000 5500004 100744 575000 0 0 575000 5750005 125930 600000 0 0 600000 6000006 151116 625000 9500 36500 634500 6615007 176302 625000 19000 73000 644000 6980008 201488 625000 28500 109500 653500 7345009 226674 625000 38000 146000 663000 77100010 251860 625000 47500 182500 672500 80750015 377790 625000 95000 365000 720000 99000016 402976 625000 104500 401500 729500 102650020 402976 625000 189500 729500 814500 135450025 402976 625000 253000 973000 878000 1598000Age at Entry : 35 years, Sum Assured : Rs. 5 lakhs Yearly Premium Rs. 25,188Policy Term : 25 years Premium Term : 16 yearsIntro Features Benefits Illustrations
    • 11. This illustration is applicable to a non-smoker male/female standard(from medical, life style and occupation point of view) life.The non-guaranteed benefits (1) and (2) in above illustration arecalculated so that they are consistent with the Projected InvestmentRate of Return assumption of 6% p.a.(Scenario 1) and 10% p.a.(Scenario 2) respectively. In other words, in preparing this benefitillustration, it is assumed that the Projected Investment Rate ofReturn that LICI will be able to earn throughout the term of thepolicy will be 6% p.a. or 10% p.a., as the case may be. TheProjected Investment Rate of Return is not guaranteed.The main objective of the illustration is that the client is able toappreciate the features of the product and the flow of benefits indifferent circumstances with some level of quantification.Future bonus will depend on future profits and as such is notguaranteed. However, once bonus is declared in any year and addedto the policy, the bonus so added is guaranteed.Intro Features Benefits Illustrations
    • 12. Intro Features Benefits IllustrationsIs term rider available under the plan ?Yes, as an optional rider. An additional premium for this option shall bepayable in addition to the premium under the basic plan during thepremium paying term and an amount equal to Term Assurance SumAssured will be payable on death during the policy term.Is accident benefit available under the plan?Accident benefit will be available under the plan upto a maximum ofRs.25 lakh (under all policies taken together) subject to the payment ofadditional premium. An additional amount equal to the Accident BenefitSum Assured is payable on death. This benefit will be available for thefull term of the policy or till the policy anniversary immediatelyfollowing the Life Assured attaining 70 years of age.Can a policy under the plan be dated back?The policies can be dated back within the financial year. Back-datinginterest is charged at the rate of 10.5% p.a. for dating back in excess ofone month.
    • 13. Intro Features Benefits IllustrationsIf policy is lapsed can it be revived?The policyholder can revive his lapsed policy by paying arrears ofpremium together with interest to be decided by the Corporationfrom time to time, subject to satisfactory evidence of health.The present rate of interest is 9% p.a. payable half-yearly.Is loan available under the policy ?Loan is permissible subject to usual terms and conditions. Therate of interest on loan shall be charged at the rate of 10.5% p.a.payable half-yearly. The rate of interest is subject to revision.If I am not able to continue my policy do I lose the premium paid?No, the policy acquires paid-up value after at least one full year’spremium has been paid where premium paying term upto 10years. For premium paying terms of more than 10 years, policyacquires paid-up value after 2 full years’ premiums are paid.
    • 14. Intro Features Benefits IllustrationsIf the plan is availed under Keyman Insurance, is the policytransferable ?Where a policy under this plan has been taken by an employerfor a keyman employee and such keyman leave the servicesand joins another employer, the policy may be transferred infavour of the new employer subject to fulfillment of thefollowing conditions :-The old employer requests for the transfer and is prepared toexecute an assignment in favour of the new employer, thelife assured employee is the keyman of the new employer, andthe policy is in full force.The terms of transfer may be decided by both the employersmutually. Needless to add that such transfer will be subjectto the approval from LIC

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