Lic new jan raksha 91


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Lic new jan raksha 91

  1. 1. A novel plan forboth the Rural Folkas well as theUrban Middle ClassUnique feature of extended risk cover.Risk cover up to 3 years,after the Premiums arepaid for 2 years.Accident Benefitavailable withoutpayment of anyextra premiumIntroFeaturesBenefitsillustrationsAttractionsAttractions
  2. 2. Suitable for Farmers ,Small Business Owners,Milk and Vegetable vendors,Self Employed, etc.Ideal for those personswho cannot produce age proof,(Provided age is less than of equal to40 years and sum proposed is Rs 50,000/-IntroFeaturesBenefitsillustrationsAttractionsAttractions
  3. 3. Who can avail of this plan?Those aged between 18 and 50 years.Maximum Maturity Age is 75 years.For how many years is premium payable ?Any policy term from 12 to 30 years can be chosen.IntroFeaturesBenefitsillustrationsFeaturesFeatures
  4. 4. For what sums is insuranceavailable under this plan ?Minimum Rs. 30,000/-.Maximum : Rs. 10,00,000/-At what frequency can premium be paid?Premiums can be paid by yearly, half-yearly,Quarterly, Monthly orthrough Salary Saving Scheme.IntroFeaturesBenefitsillustrationsFeaturesFeatures
  5. 5. Age Term Sum AssuredRs.1 lakh 2 lakhs20 12 8611 1702125 12 8620 1704130 20 5080 996035 20 5230 1026040 30 4013 7826IntroFeaturesBenefitsillustrationsSample Premium ChartSample Premium ChartAnnual Premium Rs.Annual Premium Rs.
  6. 6. Unexpected expenses can upset your budget suddenly.What do you do when you receive your premium notice insuch circumstances?In most circumstances when you do not pay yourpremium, your policy lapses and along with it all benefitsas well.Now, available is a plan which allows continuation ofbenefits under the policy over an extended period ofthree years, if two full years’ premiums are paid andnext three years’ premiums not paid.Policy can be revived during or the end of such extendedcover period.Extended Life CoverExtended Life CoverIntroFeaturesBenefitsillustrations
  7. 7. Extended Life CoverExtended Life CoverIntroFeaturesBenefitsillustrationsA policy holder can pay 3/2/1 years’ unpaidpremiums, without any health requirement, provided,such remittances are made within 36 months from thedate of first unpaid premium (FUP).If all the unpaid premiums are paid within 36 monthsfrom FUP ,then this benefit can be availed againduring the term of the policy.Incase, if only 1 year’s or 2 year’s unpaid premiumsare paid within 36 months from FUP , then thisbenefit is extended by the same no. of years.
  8. 8. SurvivalBenefit :When thepolicyholdersurvives till date ofmaturity and policyis in force,Full sum assured +Accrued bonusesis payable.Risk Cover :On death during premiumpayment period,Natural death:Full sum assured +Accrued bonusesAccidental :Two times sum assured +Accrued BonusRisk is covered evenduring the lapsed period ofthe policy upto 3 years,after the premiums arepaid for 2 years.IntroFeaturesBenefitsillustrationsWhen are benefits payable?When are benefits payable?
  9. 9. Age at entry: 35 years Premium paying term: 25 yearsMode of premium payment: Yearly Sum Assured: Rs.1,00,000/-Annual Premium: Rs.4,535 /-Scenario 1 Scenario 2 Scenario 1 Scenario 21 4,246 1,00,000 2,100 5,500 102,100 105,5002 8,492 1,00,000 4,200 11,000 104,200 111,0003 12,738 1,00,000 6,300 16,500 106,300 116,5004 16,984 1,00,000 8,400 22,000 108,400 122,0005 21,230 1,00,000 10,500 27,500 110,500 127,5006 25,476 1,00,000 12,600 33,000 112,600 133,0007 29,722 1,00,000 14,700 38,500 114,700 138,5008 33,968 1,00,000 16,800 44,000 116,800 144,0009 38,214 1,00,000 18,900 49,500 118,900 149,50010 42,460 1,00,000 21,000 55,000 121,000 155,00015 63,690 1,00,000 31,500 82,500 131,500 182,50020 84,920 1,00,000 56,000 146,000 156,000 246,00025 106,150 1,00,000 69,500 182,500 169,500 282,500End of YearTotalpremium paidtill end of yearBenefit payable on death/maturity at end of yearGuaranteed* Variable TotalIntroFeaturesBenefitsillustrationsIllustrationsIllustrations
  10. 10. 1)  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 illustrationare calculated so that they are consistent with the ProjectedInvestment Rate of Return assumption of 6% p.a.(Scenario 1) and10% p.a. (Scenario 2) respectively. In other words, in preparingthis benefit illustration, it is assumed that the Projected InvestmentRate of Return that LICI will be able to earn throughout the term ofthe policy will be 6% p.a. or 10% p.a., as the case may be. TheProjected Investment 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.iv)  Future bonus will depend on future profits and as such is notguaranteed. However, once bonus is declared in any year andadded to the policy, the bonus so added is guaranteed.v)   The maturity benefit is the amount shown at the end of thepolicy term.IntroFeaturesBenefitsillustrationsIllustrations-Illustrations-Disclaimer andDisclaimer andAssumptionsAssumptions
  11. 11. Thank you