ANY TIME MONEY(ATM) PLAN

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pension and any time money plan from LIC OF INDIA

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ANY TIME MONEY(ATM) PLAN

  1. 1. Jeevan Saral Pride of India
  2. 2. <ul><li>JEEVAN SARAL </li></ul><ul><li>BEST INSURANCE PRODUCT </li></ul><ul><li>Winner of Prestigious </li></ul><ul><li>“ Golden Peacock” award . </li></ul><ul><li>FROM THE REGULATIOR </li></ul><ul><li>I R D A </li></ul>11/27/09 U. THALAPATHI - LIC
  3. 3. 11/27/09 U. THALAPATHI - LIC MONTHLY PREMIUM LIC’S Jeevan Saral RETURNS FROM BANK FDs POST OFFICE U GAIN FROM LIC Rs . 500 Rs. 106,452 + Free insurance RS.89010 – TDS TAD DEDCUTED AT SOURCE Rs. 17,442 Rs. 1000 Rs. 212,904 + Free insurance RS.178021 - TDS Tax Rs. 34,883 Rs. 1500 Rs. 319,356 + Free insurance RS.267031 - TDS Tax Rs. 52,325 Rs. 2000 Rs. 425,808 + Free insurance RS.356042 - TDS Tax RS.69,766
  4. 4. 11/27/09 U. THALAPATHI - LIC MONTHLY PREMIUM LIC Jeevan Saral RETURN IN BANK/POST OFFICE U GAIN FROM LIC 2500 532260 + Free insurance 445052 _ TDS Tax + Free insurance 87208 3000 638712 + Free insurance 534063 - TDS Tax + Free insurance 104649 3500 745164 + Free insurance 623073 - TDS Tax + Free insurance 122091 4000 851616 + Free insurance 712084 - TDS Tax + Free insurance 139532 5000 1064520 + Free insurance 890105 - TDS Tax + Free insurance 174415 
  5. 5. <ul><li>For all the Financial needs of a person Like </li></ul><ul><li>Education of Children and Marriage </li></ul><ul><li>Health needs </li></ul><ul><li>Retirement Pension </li></ul><ul><li>Estate Creation </li></ul><ul><li>Easy and Flexible Money Back </li></ul>11/27/09 U. THALAPATHI - LIC
  6. 6. <ul><li>Conventional policy with High Returns. </li></ul><ul><li>Partial Withdrawal facility </li></ul><ul><li>( Policy holder can withdraw money like from ATM ANY TIME MONEY) </li></ul>11/27/09 U. THALAPATHI - LIC
  7. 7. <ul><li>25% more Maturity VALUE. </li></ul><ul><li>25% more Risk cover. </li></ul><ul><li>250 TIMES THE MONTHLY BASIC PREMIUM </li></ul><ul><li>Less premium at higher ages </li></ul>11/27/09 U. THALAPATHI - LIC
  8. 8. <ul><li>MINIMUM MONTHLY PREMIUM :/ YEARLY </li></ul><ul><li>AGE 12 - TO - 49 YEARS = 250------3002 </li></ul><ul><li>AGE 50 - TO - 60 YEARS = 400------4804 </li></ul><ul><li>( BASIC PREMIUM LESS MODE REBATE PLUS DABD DOUBLE ACCIDENT + DISABILITY RIDER BENEFIT = NET PREMIUM IN YEARLY COLOUM) </li></ul>11/27/09 U. THALAPATHI - LIC
  9. 9. <ul><li>MINIMUM YEARLY PREMIUM: </li></ul><ul><li>PREMIUMIS THE SAME FOR </li></ul><ul><li>AGE 12 TO 49 </li></ul><ul><li>A.Rs.3002 B.Rs.12010. C.Rs.24020 </li></ul><ul><li>AGE 50 TO 60 </li></ul><ul><li>A.Rs.4804 B.Rs.12010 C . Rs . 24020 </li></ul>11/27/09 U. THALAPATHI - LIC
  10. 10. <ul><li>DEATH BENEFITS- UNIQUE FEATURE WHICH NO POLICY IN WORLD HAS </li></ul><ul><li>Refund of premiums + along with SA + Loyalty additions, when risk happens </li></ul>11/27/09 U. THALAPATHI - LIC
  11. 11. <ul><li>WHAT THIS DENOTES- IN CASE OF DEATH </li></ul><ul><li>YOUR FAMILY GETS </li></ul><ul><li>YOUR TOTAL SUM ASSURED (GUARANTEED) </li></ul><ul><li>+ TOTAL PREMIUMS PAID (GUARANTEED) </li></ul><ul><li>+ LOYALTY ADDITION (AT PREVAILING RATE) </li></ul>11/27/09 U. THALAPATHI - LIC
  12. 12. <ul><li>10 years in force. </li></ul><ul><li>Death after 9 Years </li></ul>JEEVAN SARAL 11/27/09 U. THALAPATHI - LIC
  13. 13. <ul><li>MATURITY BENEFITS -- ON SURVIVAL OF TERM(ON (PAYMENT OF MINIMUM PREMIUM) </li></ul><ul><li>BASIC MSA FOR AGE 25 YEARS* FOR </li></ul><ul><li>10 YEAR TERM= Rs. 27,802.00 </li></ul><ul><li>BASIC MSA FOR AGE 45 YEARS* FOR 10 YEAR TERM= Rs. 24,197.00 </li></ul><ul><li>BASIC MSA FOR AGE 51 YEARS* FOR </li></ul><ul><li>10 YEAR TERM= Rs. 31, 512.00 </li></ul><ul><li>BASIC MSA FOR AGE 60 YEARS* FOR </li></ul><ul><li>10 YEAR TERM = RS.12,236.00 </li></ul><ul><li>BASIC MSA = MATURITY SUM ASSURED * = AGE AT ENTRY </li></ul>11/27/09 U. THALAPATHI - LIC
  14. 14. <ul><li>MATURITY BENEFITS : </li></ul><ul><li>BMSA - BASIC MATURITY SUM ASSURED + </li></ul><ul><li>+ LOYALTY ADDITIONS ( WHICH IS CURRENTYLY MORE THAN THE BONUS BEING DECLARED IN LIC) </li></ul><ul><li>SETTLEMENT OPTION </li></ul>11/27/09 U. THALAPATHI - LIC
  15. 15. <ul><li>Contractual Benefits Sum Assured and Bonuses </li></ul><ul><li>already declared </li></ul>Discretionary Benefits Bonuses likely to be declared in future (including Final Additional Bonus and Loyalty Additions 11/27/09 U. THALAPATHI - LIC
  16. 16. <ul><li>If Bonus is declared only once at the time of maturity, the Tax and Shareholders’ Share need not be paid each year. Such deferment of tax increases the bonus available to policyholders </li></ul>11/27/09 U. THALAPATHI - LIC
  17. 17. <ul><li>Just because the bonus is not declared each year, it does not mean that no provision is being made, till the date of maturity, for the loyalty addition payable on maturity. </li></ul>11/27/09 U. THALAPATHI - LIC
  18. 18. <ul><li>Instead , The Sum of the Bonuses that could be declared for each year of the Policy Term (Past, Current and Future) is taken as the likely amount of Loyalty Addition payable on Maturity and its Discounted Value is included in the Liability, as per IRDA Regulations . </li></ul>11/27/09 U. THALAPATHI - LIC
  19. 19. <ul><li>Covers </li></ul><ul><li>Risk of Death & Living Long </li></ul><ul><li>Risk of Investment Returns </li></ul><ul><li>And Optional Liquidity . </li></ul>11/27/09 U. THALAPATHI - LIC
  20. 20. <ul><li>Premium Holiday </li></ul><ul><li>12 months from FUP </li></ul><ul><li>If premiums are paid for at least 3 year s </li></ul>11/27/09 U. THALAPATHI - LIC
  21. 21. <ul><li>SURRENDER VALUE </li></ul><ul><li>PERIOD MATURITY S.A . </li></ul><ul><li>(A) 3 TO 4 YEARS 80% </li></ul><ul><li> 4 TO 5 YEARS 90% </li></ul><ul><li> AFTER 5 YEARS 100% </li></ul><ul><li>PLUS </li></ul><ul><li>(B) - The interest from date of FUP to date of surrender on above amount. </li></ul><ul><li>(C) - Loyalty additions if any </li></ul>11/27/09 U. THALAPATHI - LIC
  22. 22. <ul><li>Maturity Sum Assured is reduced after every Partial Encashment </li></ul><ul><li>Partial surrenders are allowed after three years. One can get partial surrender every yr. against min. Rs.100/-mly prem. </li></ul>11/27/09 U. THALAPATHI - LIC
  23. 23. <ul><li>Premium Fixed </li></ul><ul><li>Death Benefit is Fixed </li></ul><ul><li>Different Maturity Benefit </li></ul>11/27/09 U. THALAPATHI - LIC
  24. 24. Improved Money Back plan Non Taxable Pension Plan
  25. 25. Higher cover Liquidity Flexibility Smooth Return
  26. 26. <ul><li>Benefit of LIC Scheme </li></ul><ul><li>LIC Monthly Recurring type Scheme </li></ul><ul><li>This is like a Post office or Recurring Deposit Scheme. You can deposit Yearly, Hly, Quarterly or Monthly (ECS) in LIC scheme </li></ul><ul><li>Maturity received in LIC scheme is Tax Free under section 10-10d of income Tax act. </li></ul><ul><li>You can withdraw partial of full amount if necessary after 10 years. </li></ul><ul><li>The amount deposited in LIC is exempted under section 80c of income Tax act. </li></ul><ul><li>You can continue LIC Jeevan saral scheme even after 10 years. </li></ul><ul><li>In case of death 250 times monthly premium + Total Premium paid - (1st years premium & Extra premium paid ) + LA payable. </li></ul><ul><li>if you forget to take maturity at the end of 10 years, You can get return beyond 10 years in LIC scheme. This is not available in Post office scheme. </li></ul>11/27/09 U. THALAPATHI - LIC
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