Lic komal jeevan 159

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Lic komal jeevan 159

  1. 1. LIC of India presentsLIC of India presents KOMAL JEEVANKOMAL JEEVANLIC of India presentsLIC of India presents KOMAL JEEVANKOMAL JEEVANA PLANFORYOURBELOVEDCHILDTOHELP YOUPROVIDE FORHIS/HERHIGHEREDUCATION&START-IN-LIFE
  2. 2. LIC of India presentsLIC of India presents KOMAL JEEVAN (Plan 159)KOMAL JEEVAN (Plan 159)LIC of India presentsLIC of India presents KOMAL JEEVAN (Plan 159)KOMAL JEEVAN (Plan 159)
  3. 3. LIC of India presentsLIC of India presents KOMAL JEEVAN (Plan 159)KOMAL JEEVAN (Plan 159)LIC of India presentsLIC of India presents KOMAL JEEVAN (Plan 159)KOMAL JEEVAN (Plan 159)
  4. 4. LIC of India presentsLIC of India presents KOMAL JEEVAN (Plan 159)KOMAL JEEVAN (Plan 159)LIC of India presentsLIC of India presents KOMAL JEEVAN (Plan 159)KOMAL JEEVAN (Plan 159)Thoughts that cross every parent’s mind…….At what stages in thegrowth of my childwill I need to providemoney for highereducationand start-in-life?Can I plan properly sothat my dreams for mychild do not remainunfulfilled for want ofsufficient moneyWhen and how will I beable to save suchmoney ? Will theaccumulationbe tax-free ?Can I insulate mysavings from a desire towithdraw under onepretext or another ?
  5. 5. LIC of India presentsLIC of India presents KOMAL JEEVAN (Plan 159)KOMAL JEEVAN (Plan 159)LIC of India presentsLIC of India presents KOMAL JEEVAN (Plan 159)KOMAL JEEVAN (Plan 159)You can plan yourtarget savings amountby saving in smallerannual installmentsinstead of lump sumGuaranteed sums will bepaid to you at your child’sage 18, 20, 22, 24 and 26years. i.e. when money isneeded most for child’shigher education,marriage and start-in-life.Premiums waiver is availablefor a small additionalpremium, where futurepremiums are waived in caseof unfortunate death ofproposer parent and still allthe benefits under the policyare protected.You can create a largeand guaranteed ‘Tax Free’‘Tax Free’capital for your childwhich will help him atevery stage in life.
  6. 6. LIC of India presentsLIC of India presents KOMAL JEEVAN (Plan 159)KOMAL JEEVAN (Plan 159)LIC of India presentsLIC of India presents KOMAL JEEVAN (Plan 159)KOMAL JEEVAN (Plan 159)Plan Details : :For whom is the plan available?Children upto 10 years of ageFor what sums is insuranceavailable?Rs. 1 lakh - Rs. 25 lakhsFor how many years ispremium payable ?Up to child’s age 18 years.Premium Payment Mode ?Yly, Hly, Qly, Single Prem.When does risk commence ?Two 2 years from thedate of commencement ofthe policyORFrom policy anniversaryimmediately followingcompletion of 7 years ofage, whichever is later.Who can propose ? Father Mother (with own Income) Legal guardian in theabsence of father & mother
  7. 7. Age PremiumPayableTermSum Assured Rs.1 lakh 2 lakhs 5 lakhs 10 lakhs0 18 7449 14694 36734 71,8141 17 7938 15671 39178 76,6652 16 8490 16775 41937 82,1043 15 9111 18018 45044 88,2294 14 9642 19080 47700 93,5215 13 10427 20650 51624 1,01,2636 12 11336 22467 56168 1,10,2307 11 12414 24625 61561 1,20,8148 10 13691 27178 67946 1,33,4079 9 14680 29157 72892 1,43,25610 8 16517 32831 82077 1,61,386LIC of India presentsLIC of India presents KOMAL JEEVANKOMAL JEEVANLIC of India presentsLIC of India presents KOMAL JEEVANKOMAL JEEVAN
  8. 8. LIC of India presentsLIC of India presents KOMAL JEEVAN (Plan 159)KOMAL JEEVAN (Plan 159)LIC of India presentsLIC of India presents KOMAL JEEVAN (Plan 159)KOMAL JEEVAN (Plan 159)If policy is in full force (i.e. premiumsare paid uptodate), payment schedule isas under.Example : Sum Assured Rs. 5 lakhs;Life Assured’s Age : 0 yearsGuaranteed Addition :Rs.75 per thousand SumAssured p.a. at the end ofeach policy year will beadded provided the policy isin full force.This guaranteed is payableon Death of life assured(provided the risk hascommenced) or on Maturity.Loyalty Additions may also bepayable on Maturity or onDeath after risk commencesdepending on experience ofthe Corporation.% of Sum AssuredpayableOn policyanniversary fallingafter child (lifeassured) attains ageRs. 1 lakh(i.e. 20% of S.A.)18 yearsRs. 1 lakh(i.e. 20% of S.A.)20 yearsRs. 1.50 lakh(i.e. 30% of S.A.)22 yearsRs. 1.50 lakh(i.e. 30% of S.A.)24 yearsRs. 9.75 lakhs(Guaranteed Addn.)plus loyalty addition26 years
  9. 9. Illustration on Komal JeevanIllustration on Komal JeevanEnd ofyearBenefit on Survival / Maturity at the end of YearGuaranteed Variable   Total  Scenario 1 Scenario 2 Scenario 1 Scenario 218 20000 0 0 20000 2000020 20000 0 0 20000 2000022 30000 0 0 30000 3000024 30000 0 0 30000 3000026 195000 0 277000 195000 472000Illustrations : Age at entry: 0 years Premium Paying Term: 1 YearSingle Premium: Rs.73,980/- Policy Term: 26 yearsSum Assured: Rs.1,00,000/-
  10. 10. Illustration on Komal JeevanIllustration on Komal JeevanIllustrations : Age at entry: 0 years Premium Paying Term: 1 YearSingle Premium: Rs.73,980/- Policy Term: 26 yearsSum Assured: Rs.1,00,000/-YearYearTotalTotalPremiumPremiumpaid till endpaid till endof yearof yearBenefit on Death during the year (Rs.)Benefit on Death during the year (Rs.)GuaranteedGuaranteed VariableVariable TotalTotal   Scenario 1Scenario 1 Scenario 2Scenario 2 Scenario 1Scenario 1 Scenario 2Scenario 211 7398073980 7398073980 00 00 7398073980 739807398022 7398073980 7398073980 00 00 7398073980 739807398033 7398073980 7398073980 00 00 7398073980 739807398044 7398073980 7398073980 00 00 7398073980 739807398055 7398073980 7398073980 00 00 7398073980 739807398066 7398073980 7398073980 00 00 7398073980 739807398077 7398073980 145000145000 00 1200012000 145000145000 15700015700088 7398073980 152500152500 00 1600016000 152500152500 16850016850099 7398073980 160000160000 00 2100021000 160000160000 1810001810001010 7398073980 167500167500 00 2600026000 167500167500 1935001935001515 7398073980 205000205000 00 6700067000 205000205000 2720002720002020 7398073980 242500242500 00 128000128000 242500242500 3705003705002626 7398073980 287500287500 00 277000277000 287500287500 564500564500
  11. 11. Illustration : Survival BenefitIllustration : Survival BenefitEnd ofyearBenefit on Survival / Maturity at the end of YearGuaranteed Variable   Total  Scenario1Scenario2Scenario1Scenario 21820000 0 0 20000 200002020000 0 0 20000 200002230000 0 0 30000 300002430000 0 0 30000 3000026195000 0 176000 195000 371000 Illustration 2: Age at entry: 0 years Premium Paying Term: 18 yearsAnnual Premium: Rs.7,281/- Policy Term: 26 yearsSum Assured: Rs.1,00,000/- 
  12. 12. Illustration: Risk CoverIllustration: Risk Cover Illustration 2: Age at entry: 0 years Premium Paying Term: 18 yearsAnnual Premium: Rs.7,281/- Policy Term: 26 yearsSum Assured: Rs.1,00,000/- YearTotalPremium paidtill end ofyearBenefit on Death during the year (Rs.)Guaranteed Variable Total  Scenario 1 Scenario 2 Scenario 1 Scenario 21 7281 7281 0 0 7281 72812 14562 14562 0 0 14562 145623 21843 21843 0 0 21843 218434 29124 29124 0 0 29124 291245 36405 36405 0 0 36405 364056 43686 43686 0 0 43686 436867 50967 145000 0 3000 145000 1480008 58248 152500 0 5000 152500 1575009 65529 160000 0 8000 160000 16800010 72810 167500 0 11000 167500 17850015 109215 205000 0 43000 205000 24800020 131058 227500 0 71000 227500 29850026 131058 242500 0 91000 242500 333500
  13. 13. Illustration:Illustration: Assumptions andAssumptions andDisclaimerDisclaimeri)    This illustration is applicable to a non-smoker male/femalestandard (from medical, life style and occupation point of view) life. ii)   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. The ProjectedInvestment Rate of Return is not guaranteed. iii)  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.
  14. 14. LIC of India presentsLIC of India presents KOMAL JEEVAN (Plan 159)KOMAL JEEVAN (Plan 159)LIC of India presentsLIC of India presents KOMAL JEEVAN (Plan 159)KOMAL JEEVAN (Plan 159)• Is Medical Examinationrequired? No, it is not required forthis plan.• When does the policy vestin the Life Assured.? On the policy anniversaryimmediately after he/sheattains majority• Can premium waiver beavailed by proposer? Yes, upto the proposer’s age50 years, on payment ofsmall additional premium.• Is Term Rider Benefitavailable ? Yes, it is available to theproposer to the extent of20% of the basic SumAssured under the policynot exceeding Rs.1 lakh &payable in case ofunfortunate death of theproposer before the policyanniversary on which thechild completes 18 years.• Is Accident Benefitavailable under the plan ? No
  15. 15. LIC of India presentsLIC of India presents KOMAL JEEVANKOMAL JEEVANLIC of India presentsLIC of India presents KOMAL JEEVANKOMAL JEEVANPopularity MeterPopularity Meter3,75,456 policiessold in 2003-04in the 1stfull yearafter introduction

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