Endowment Plans

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Endowment Plans

  1. 1. ENDOWMENT PLANSJeevan Anand 149Endowment with Profit 14Limited Payment Endowment with profit 48Jeevan Mitra 88Jeevan Saathi 89Marriage Educational Annuity 90New Janaraksha 91Jeevan Mitra Triple Cover 133 www.insureme.co.in
  2. 2. Jeevan Anand   149Features This With-Profit plan is a combination of theWhole Life Plan and the most popular EndowmentAssurance Plan. The plan provides the pre-decided SumAssured and Bonuses at the end of the stipulatedpremium paying term, but the risk cover on the lifecontinues till death. Moderate Premiums High bonus High liquidity Savings oriented www.insureme.co.in
  3. 3. Jeevan Anand   149Special FeaturesAccident Benefit:The double Accident Benefit is available during thepremium paying term and thereafter up to age 70. Thepremium for this has been built into the tabular premiumrates. Maximum Accident Cover available under thisplan will be Rs. 5 lakh ( this limit excludes accidentbenefit taken under other plans) www.insureme.co.in
  4. 4. Jeevan Anand   149Premium StoppageIf payment of premiums ceases after at least THREEyears premiums have been paid , a free paid-up policyfor a reduced sum assured will be automatically securedprovided the reduced sum assured, exclusive of anyattached bonus, is not less than Rs. 250/-. The reducedsum assured will become payable on the event asstipulated in the policy. www.insureme.co.in
  5. 5. Jeevan Anand   149Survival benefits:Sum assured along with all vested bonuses payable at theend of the premium paying term (Endowment term)Death Benefits:Sum Assured along with vested bonuses are payable ondeath during the premium paying term and policy ceases. Anamount equal to the Sum Assured is payable if death occursafter the premium paying term.Simple Reversionary Bonus accrues during the premiumpaying term and is payable at the end of the premium payingterm or on earlier death along with Final Additional Bonus, ifany. No Bonus is paid on death after the premium payingterm www.insureme.co.in
  6. 6. Jeevan Anand   149Plan Parameters Min MaxEntry Age 18 completed 65 nbdSum Assured 1,00,000 No limitTerm 5 57Mode of Payment: Yly, Hly Qly, Mly or SSSMax. Maturity age: 75 YearsPolicy Loan available: Yes www.insureme.co.in
  7. 7. Jeevan Anand – Yield ChartAGE TERM SUM YLY MAT YIELD % YIELD ASSURED PREMIUM VALUE INCLUDING IT BENEFITS Policy Prem35 45 25 100000 4535 2251800 8.88 9.8640 40 25 100000 4772 1473669 8.71 9.69 BASED ON BONUS/FAB DECLARED AS AT 31.03.2002 www.insureme.co.in
  8. 8. Endowment With profit - 14 Features Moderate Premiums High bonus High liquidity Savings orientedThis policy not only makes provisions for the family ofthe Life Assured in event of his early death but alsoassures a lump sum at a desired age. The lump sum canbe reinvested to provide an annuity during theremainder of his life or in any other way consideredsuitable at that time www.insureme.co.in
  9. 9. Endowment With profit - 14 Plan Parameters Min MaxEntry Age 12 nbd 65Sum Assured 20000 No limitTerm 5 55Mode of Payment:Yearly, half yearly quarterly, monthly or SSSMax. Maturity age: 75 YearsPolicy Loan available: Yes www.insureme.co.in
  10. 10. Endowment With profit - 14 BenefitsSurvival benefits:Payment of full Sum Assured + Vested Bonus +Final Additional bonus, if anyDeath Benefits:Payment of full sum assured + Vested Bonus www.insureme.co.in
  11. 11. Endowment With profit - 14Special FeaturesDisability Benefit:In case policy holder becomes totally and permanentlydisabled due to an accident before reaching the age of70 and the policy is in full force, he will not be requiredto pay further premiums, (the Disability Benefit isavailable in respect of the first Rs.20,000 sum assuredon any one life) and the policy will continue to be inforce. www.insureme.co.in
  12. 12. Endowment With profit - 14 Accident BenefitThe Double Accident Benefit equal to the Sum Assuredand not exceeding Rs.25 lacs can be availed by paying asmall extra premium of Re.1 per Rs.1000/- Sum Assuredper year. Even students above the age of 18 years canavail of this benefit. www.insureme.co.in
  13. 13. Endowment With profit - 14 Yield ChartAGE TERM SUM YLY MAT YIELD % YIELD ASSURED PREMIUM VALUE INCLUDING IT BENEFITS35 25 100000 4047 322500 8.06 7.3740 25 100000 4318 322500 7.64 8.69 BASED ON BONUS/FAB DECLARED AS AT 31.03.2002 www.insureme.co.in
  14. 14. Limited Payment Endowment with Profits 48FeaturesThe payment of premium can be limited either toa single payment or to a term shorter than thepolicy. The Sum Assured and Vested Bonus are,however, payable only at the end of the policyterm, or on death of the policy holder if it takesplace earlier. www.insureme.co.in
  15. 15. Limited Payment Endowment with Profits 48 Plan Parameters Min MaxEntry Age 12 nbd 60Sum Assured 20000 No limitTerm 5 50Mode of Payment All modesMax Maturity Age 70Policy loan available No loan under policies issued on minors until vesting www.insureme.co.in
  16. 16. Limited Payment Endowment with Profits 48 BenefitsThis is the most popular form of life assurance since it notonly makes provision for the family of the Life Assured in theevent of his early death, but also assures a lump sum at anydesired age. The amount assured, if not paid by reason of hisearlier death, becomes payable at the end of the endowmentterm when it may be invested to provide an annuity during theremainder of his life or in any other way he may think mostsuitable at the time. www.insureme.co.in
  17. 17. Limited Payment Endowment with Profits 48Special FeaturesIf payment of the premiums ceases after at least three yearspremiums have been paid, a free paid-up Policy for an amountbearing the same proportion to the sum assured as the numberof premiums actually paid bears to the number stipulated for inthe policy, will be automatically secured provided the reducedsum assured, exclusive of any attached bonus, is not less thanRs.250.Such reduced paid-up Policy will not be entitled to participatein the profits declared thereafter, but such Bonus as hasalready been declared on the Policy will remain attachedhereto. www.insureme.co.in
  18. 18. Jeevan Mitra 88Special FeaturesBesides the usual benefits offered by any endowmentinsurance plan, this policy provides for an additionalinsurance cover equal to the sum assured in the event of apolicy holder’s death during the term of the policy. Inother words, the death claim in the case of this policy istwice the basic sum assured.The survival claim, on the other hand, is the basic sumassured, plus the accrued bonuses. Bonus is, similarly,calculated only on the basic sum assured at rates applicableto endowment policies. www.insureme.co.in
  19. 19. Jeevan Mitra 88 BenefitsSurvival benefits:Sum Assured + vested Bonus on the basic SumAssuredDeath Benefits:Double the Sum Assured + vested Bonuses on thebasic Sum Assured OrDouble Accident benefits, if taken and paid for willtreble the amount of Sum Assured www.insureme.co.in
  20. 20. Jeevan Mitra 88  Plan Parameters Min MaxEntry Age 18 lbd 50Sum Assured 20000 No limitTerm 15 30Mode of Payment All modesMax Maturity Age 70 YearsPolicy loan available Yes www.insureme.co.in
  21. 21. Jeevan Mitra 88 FeaturesThe benefits of this policy are considered normally forstandard and substandard lives upto Class VI. It cannotbe allowed for people engaged in hazardous occupations.Female lives under Category I  & II allowed. Non-medicalspecial is allowed only if the Sum Assured does notexceed Rs.1,00,000/-  www.insureme.co.in
  22. 22. Jeevan Saathi 89 Special FeaturesThis policy is issued on the lives of the husband andwife including those under Category II & III.The Sum Assured will be payable on the first deathand again on the death of the survivor during theterm of the policy. Vested Bonuses would also bepaid along with the Sum Assured on the seconddeath. www.insureme.co.in
  23. 23. Jeevan Saathi 89 Special FeaturesThe Premium under this Plan is payableduring the joint life time of the two livesand ceases on the first death or theexpiry of the selected term, whichever isearlier. www.insureme.co.in
  24. 24. Jeevan Saathi 89 BenefitsSurvival benefits:If one or both the lives survive to the maturity date, the sum assured,along with the accumulated bonus, is payable.Death Benefits:In case either of the couple dies during the policy’s term, two thingshappen. One, LIC pays to the surviving spouse the full sum assured.And, two, the policy continues on the life of the surviving partnerwithout him/her having to pay any further premiums, i.e. the lifecover on the survivor continues free of cost.The sum assured is again be payable on the death of the otherpartner in case both the husband and wife were to die during theterm of the policy. Vested bonus would also be paid along with thesum assured on the second death. www.insureme.co.in
  25. 25. Jeevan Saathi 89Plan Parameters Min MaxEntry Age 20 nbd 50Sum Assured 20000 No limitTerm 15 30Mode of Payment All modesMax Maturity Age 70 YearsPolicy loan available Yes www.insureme.co.in
  26. 26. Jeevan Saathi - Yield ChartAGE TERM SUM YLY MAT YIELD % YIELD ASSURED PREMIUM VALUE INCLUDING IT BENEFITS 35 25 100000 5461 325000 6.15 7.22 40 25 100000 6475 325000 5.01 6.10 BASED ON BONUS/FAB DECLARED AS AT 31.03.2002 www.insureme.co.in
  27. 27. Marriage Endowment & Educational Annuity - 90 FeaturesThe Marriage Endowment/ Educational annuity plan provides a sumassured to be kept aside for the expenses of marriage or highereducation of the policyholders children. Premiums payable forselected term or till death of the life Assured. Benefits will be givenonly after the selected term. www.insureme.co.in
  28. 28. Marriage Endowment & Educational Annuity - 90 Special FeaturesUnder this plan the policy monies and bonus are paid only at the end of theselected term, irrespective of whether the policy holder survives till the term ornot, i.e. the survival or death benefit is payable at the same time. In case thepolicy holder were to die during the term of the policy, no further premiums arepayable but the bonus continues to accrue for the full-term of the policy.The sum assured, plus the accumulated bonus for the full term, are then paid tothe family at the end of the policy’s term. Further, one can opt to receive themoney either in one lump sum, or in ten half-yearly installments. In case, theDouble Accident Benefit is availed, then an additional sum equal to the basicSum Assured becomes payable immediately on death due to accident duringthe policy term. www.insureme.co.in
  29. 29. Marriage Endowment & Educational Annuity - 90 BenefitsSurvival benefits:(Sum Assured + Bonus) payable in lump sum (or)(Sum Assured + Bonus) payable in 10 half-yearly installments at theoption of the life assured.Death Benefits:(Sum Assured + Bonus) payable in lump sum or in 10 half-yearlyinstallments at the option of beneficiary at the end of the policy term.Accident:Accident benefit equivalent to basic sum assured would be available bypaying appropriate additional premiums in that behalf. An amountequivalent to Sum Assured become payable immediately. www.insureme.co.in
  30. 30. Marriage Endowment & Educational Annuity - 90Plan Parameters Min MaxEntry Age 18 lbd 60Sum Assured 20000 No limitTerm 5 25Mode of Payment All modesMax Maturity Age 70 YearsPolicy loan available Yes www.insureme.co.in
  31. 31. Marriage Endowment & Educational Annuity - 90AGE TERM SUM YLY MAT YIELD % YIELD ASSURED PREMIUM VALUE INCLUDING IT BENEFITS35 25 100000 3727 322500 8.59 9.6240 25 100000 3824 322500 8.34 9.29 BASED ON BONUS/FAB DECLARED AS AT 31.03.2002 www.insureme.co.in
  32. 32. New Janaraksha 91 FeaturesIdeal for Farmers and Workers, since farmers have to depend on thevagaries of the climate while workers are subject to changes in tradecycles, depressions, strikes, labor disputes, etc.Provides full life insurance cover for 3 years even when the premiumsare not paid. (This benefit is available after at least 2 years premiumsare paid).Non-medical General up to Rs.50,000/- with declaration of age up to40 without any extra premium.Non-medical Special is allowed up to Rs. 1,00,000/-.Accident benefit available without payment of any extra premium. www.insureme.co.in
  33. 33. New Janaraksha 91 Special FeaturesThe non-medical limit is exclusive to this policy. Double Accidentbenefit and Bonus is also granted. A special feature of the New Jana Raksha Policy is that itcontinues to provide full life insurance cover to the assured forthree years, even when the premium payments are stopped due tocertain reasons, provided that at least 2 years premiums have beenreceived. www.insureme.co.in
  34. 34. New Janaraksha 91 BenefitsMaturity Benefit:Payment of Sum Assured + Accrued bonus.Death Benefits:Natural:Payment of Sum assured + Accrued bonus .Accident / Permanent Disability:Payment of double the Sum Assured + Accrued bonuses on theSum Assured as defined on the policy document. www.insureme.co.in
  35. 35. New Janaraksha 91 Plan Parameters Min MaxEntry Age 18 50Sum Assured 20000 750000Term 12 30Mode of Payment All modesMax Maturity Age 70Policy loan available Yes www.insureme.co.in
  36. 36. New Jana Raksha Yield ChartAGE TERM SUM YLY MAT YIELD % YIELD ASSURED PREMIUM VALUE INCLUDING IT BENEFITS35 25 100000 4146 322500 7.90 8.9440 25 100000 4456 322500 7.44 8.48 BASED ON BONUS/FAB DECLARED AS AT 31.03.2002 www.insureme.co.in
  37. 37. Jeevan Mitra Triple Cover 133 Special FeaturesThis policy provides the benefits of an EndowmentAssurance policy and additional insurance coverequal to three times of Sum Assured in the event ofdeath during the term of the policy so that the totalinsurance cover is thrice the basic Sum Assured. www.insureme.co.in
  38. 38. Jeevan Mitra Triple Cover 133 BenefitsMaturity BenefitBasic Sum assured along with vested bonuses will be payable onthe life assured surviving till the end of the term.Death BenefitThree times the basic sum assured together with vested bonuses ifany, will be payable on death of the life assured during the term ofassurance.BonusesBonus additions will be reckoned on the basic sum assured atrates applicable to endowment assurance and will be payable at theend of the selected term or at death if it occurs earlier. www.insureme.co.in
  39. 39. Jeevan Mitra Triple Cover 133 Plan Parameters Min MaxEntry Age 18 50Sum Assured 20000 No limitTerm 15 30Mode of Payment All modesMax Maturity Age 70 YearsPolicy loan available Yes www.insureme.co.in
  40. 40. Jeevan Mitra Triple Cover 133 The benefits of this policy can be considered only forstandard and substandard lives upto Class VI. It cannot beallowed for people engaged in hazardous occupations.Individuals engaged in dangerous pursuits will be rated againstthe revised tabular occupational extra rates. www.insureme.co.in
  41. 41. Jeevan Mitra(133) Yield ChartAGE TERM SUM YLY MAT YIELD % YIELD ASSURED PREMIUM VALUE INCLUDING IT BENEFITS35 25 100000 5553 322500 5.99 7.0640 25 100000 6640 322500 4.79 5.88 BASED ON BONUS/FAB DECLARED AS AT 31.03.2002 www.insureme.co.in

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