Child future plan 185

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This presentation is about LIC's most popular children's plan called the CHILD FUTURE PLAN. This is the most ideal plan for parents who want to secure their children's future. There are different …

This presentation is about LIC's most popular children's plan called the CHILD FUTURE PLAN. This is the most ideal plan for parents who want to secure their children's future. There are different options available for people of various earning capacities and payment modalities suited based on individual priorities.

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  • 1. LIC’s Child Future Plan – Table 185 By Ravi Kumar, Financial Advisor Blue Sapphire Financial Services Mobile: 9900113820 / 9900253820 Email : ravi.kumar@bsfinancials.com Web : http://www.bsfinancials.com
  • 2. LIC’s Child Future Plan – Table 185       This plan is exclusively designed to meet educational and other future needs of the child It also provides risk cover on the child not only during the policy term but also during the extended term Policy term is equal to Maturity age minus Age at entry Father or Mother has to be the proposer Auto Cover: If at-least 2 full years premium have been paid, full death cover shall continue for a period of 2 years from the date of first unpaid premium If the child outlives the entire tenure, then he / she receives 115% of the Sum Assured Blue Sapphire Financial Services
  • 3. LIC’s Child Future Plan – Table 185 # Title 1 Minimum age of entry 0 years 2 Maximum age of entry 12 years age last birthday 3 Minimum maturity age 23 years age last birthday 4 Maximum maturity age 27 years age last birthday 5 Maximum Term 27 years - 6 Minimum S.A. Rs. 1 lac - Rs. 1 crore - 7 Maximum S.A. Value Comment (if any) - 8 Premium Paying Term 6 years or policy term minus 5 years - 9 Modes allowed Yly, Hly, Qty / SSS Yly rebate – 2% Hly rebate – 1% Blue Sapphire Financial Services 3
  • 4. LIC’s Child Future Plan – Table 185  Survival Benefit (Total 115% + Bonus + F.A.): Term 5 years before the policy term 4 years before the policy term 3 years before the policy term 2 years before the policy term 1 years before the policy term Benefit date of expiry of date of expiry of date of expiry of date of expiry of date of expiry of On the date of expiry of policy term Blue Sapphire Financial Services 25% of the Sum Assured 10% of the Sum Assured 10% of the Sum Assured 10% of the Sum Assured 10% of the Sum Assured 50% of the Sum Assured along with vested Simple Reversionary Bonuses and Final (Additional) Bonus, if any. 4
  • 5. LIC’s Child Future Plan – Table 185  Death Benefit: Term Benefit On death (after the Date of Commencement of Risk) S.A. along with vested Simple Reversionary Bonuses and Final (Additional) Bonus, if any shall be payable. On death during the Extended Term S.A. is payable On death (before the Date of Commencement of Risk) All the premiums paid (excluding extra premium and premium for premium waiver benefit, if any,) along with interest of 3% p.a compounding yearly shall be payable. Blue Sapphire Financial Services 5
  • 6. LIC’s Child Future Plan – Table 185   Premium Waiver Benefit: It provides waiver of premiums on death of proposer. However, it is available on payment of extra premium. Auto Cover: If at-least two full years premiums have been paid, full death cover shall continue for a period of two years from the date of first unpaid premium. This rider is built-in the policy (no extra premium charged). Blue Sapphire Financial Services 6
  • 7. LIC’s Child Future Plan – Table 185  Mr. Mahendar Singh aged 35 yrs takes a policy on his daughter Ms.Smriti aged 3 years for S.A. of Rs.5 lacs (M.A. – 24 yrs, PPT 15 yrs).  Ms. Smriti will get Rs.1.25 lacs (25% of S.A.) @ her age of 18.  Further she will get Rs.50,000 (10% of S.A.) at her age of 19, 20, 21 and 22.   At the end of policy term i.e. at the age of 23, she will receive Rs.2.5 lacs (50% of S.A.) along with Bonus + FAB (if any). Totally she will receive a sum of Rs.5,75,000 + Bonus 4 lacs + 1,10,000 FAB = Rs.10,85,000 Blue Sapphire Financial Services 7
  • 8. LIC’s Child Future Plan – Table 185   India’s largest Insurance company Winner of some of the most prestigious awards such as CNBC Awaaz, Outlook Money, Golden Peacock, etc.  Total Assets of Rs. 13,17, 416 crores  Life Fund in excess of Rs.11,51,200 crores  More than 53 different products  More than 16 crore policy holders Blue Sapphire Financial Services 8
  • 9. LIC’s Child Future Plan – Table 185