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New dimension by. p.t.patil
This document provides information about new and old money back life insurance plans offered by LIC. Some key details: - The new plan 821 offers higher minimum sum assured amounts and increased rebates for higher sum assured amounts. The guaranteed surrender value definition has also changed. - Premiums, benefits, and yields are shown for both plans for various ages and policy terms. The new plan generally has higher maturity benefits. - Other features of the new plan include a changed death benefit calculation, increased surrender values, more generous loan availability, and removal of foreclosure actions. - Service tax is payable in addition to premium amounts listed. Agents are provided training on the new plans to communicate the changes and
New dimension by. p.t.patil
- 1. 300 & 340 AVAILABLE 20%+BC.40%FYC,2&3>7.5% & & FROM 4TH YR 5% NEW MONEY BACK PLAN 820-20(15) ACCIDENTAL TOTAL PRM WITHOUT( ST ) 30.09% 44 45 46 47 802500 822000 841500 861000 1302500 1322000 1341500 1361000 31898 31898 31898 31898 22042 22042 22042 22042 9856 9856 9856 9856 RISK RISK WITH(ST) PREMIUM TAX BENEFIT 30 644500 500000 39029 37859 11698 31 664000 500000 38444 37859 11698 32 683500 500000 38444 37859 11698 33 703000 500000 38444 37859 11698 34 722500 500000 38444 37859 11698 35 742000 500000 38444 37859 11698 36 761500 500000 38444 37859 11698 37 781000 500000 38444 37859 11698 38 800500 500000 38444 37859 11698 39 820000 500000 38444 37859 11698 40 839500 500000 38444 37859 11698 41 859000 500000 38444 37859 11698 42 878500 500000 38444 37859 11698 43 898000 500000 38444 37859 11698 44 927500 500000 38444 37859 11698 45 947000 0 0 0 0 0 966500 0 0 0 0 0 986000 0 0 0 0 0 1005500 0 0 0 0 0 1035000 0 0 0 0 0 0 0 0 0 0 TOTAL>>>> RS.577248 RS.567885 RS.175470 TOTAL MATURITY>RS.910000/- YIELD ON INVESTMENT> COMPARE NEW WITH OLD PLAN OLD MONEY BACK PLAN 75-20 AGE LIFE ACCIDENTAL TOTAL NET 30.09% RISK BENEFIT PREMIUM PREMIUM TAX BENEFIT 30 519500 1019500 31898 22042 9856 31 539000 1039000 31898 22042 9856 32 558500 1058500 31898 22042 9856 33 578000 1078000 31898 22042 9856 34 597500 1097500 31898 22042 9856 35 617000 1117000 31898 22042 9856 36 636500 1136500 31898 22042 9856 37 656000 1156000 31898 22042 9856 38 675500 1175500 31898 22042 9856 39 695000 1169500 31898 22042 9856 40 714500 1214500 31898 22042 9856 41 734000 1234000 31898 22042 9856 42 753500 1253500 31898 22042 9856 43 773000 1273000 31898 22042 9856 AGE LIFE 0 100000 0 0 0 0 0 0 0 100000 0 0 0 0 100000 0 0 0 RETURN FROM LIC 0 0 0 0 0 100000 0 0 0 0 100000 0 0 0 0 100000 0 0 0 0 610000 RS.910000 9.44% FROM LIC RETURN RS.300/STD,NSAP I,II,III CAT. I.II.III ALLOWED 90% OF SV OF INFORCE POL. 80% OF PAID UP POL. NO ACTION WILL BE TAKEN AVAILABLE AFTER 3YRS AVAILABLE AFTER 3YRS WITHIN 2 YRS 15% OF BSA PAYABLE ON 5TH/10TH/15TH & 20TH YR 40% OF BSA+ SRB+FAB 125% OF BSA OR 10 TIMES OF ANNULISED PRM. 300 & 340 AVAILABLE 20%+BC.40%FYC, 2&3>7.5% & FROM 4TH YR 5% 10% 1ST YR 3.09% & SUBSEQUENT 1.545% PREMIUM 80 C MATURITY/DEATH CLAIM 10(10)D 1LAK TO 1.95> NIL 2LAKS TO 4.95=2% OF BSA 5LAKS ABOVE = 3% OF BSA ALL MODES YLY=2%,HLY=1%,QLY=NIL YES MAX. 50LAKS YES N/A NOT AVAILABLE YES YES YES 80% REFUND OF PRM. FROM DATE OF ACCEPTANCE 13 YRS LBD 45 YRS ANB 70 YRS ANB 25YRS 25YRS FIXED TERM 20YRS 100000 NO LIMIT 5000 ONLY FOR PRIVATE CIRCULATION ILLUSTRATION FOR AGE 30 YRS/ S.A. FOR 5LAKS/ TERM 25 YRS INCOME TAX BENEFIT U/S CEIS REBATE SERVICE TAX PROPOSAL FORMS COOLING OFF AGENTS COMMISSION FORECLOSURE SSV GSV REVIVAL SURVIVAL BENEFITS AVAILABLE MATURITY S.A. DEATH BENEFIT MIN.PRM AGE PROOFS FEMALE CAT. NMG/NMS LOAN MODE OF PAYMENT MODE REBATE DAB/EPDB TERM RIDER PWB CIR DATING BACK NOMINATION ASSIGNMENT SUICIDE WITHIN 1YR RISK COMMENCES MIN.AGE MAX,AGE MAX,MAT.AGE MIN.POLICY TERM MAX.POLICY TERM PRM.PAY.TERM MIN.S.A. MAX.S.A. MULTIPLE S.A. REBATE FOR S.A PLANS>>>>>>>>>>>>> 821 NEW SALIENT FEATURE MONEY BACK 6,47,000 6,69,000 6,91,000 7,13,000 7,35,000 7,57,000 7,79,000 8,01,000 8,23,000 8,45,000 8,67,000 8,89,000 9,11,000 9,33,000 9,65,000 9,87,000 10,09,000 10,31,000 10,53,000 10,85,000 11,07,000 11,29,000 11,51,000 11,73,000 12,87,500 0 NEW MONEY BACK PLAN 821- 25 (20) RISK 500000 500000 500000 500000 500000 500000 500000 500000 500000 500000 500000 500000 500000 500000 500000 500000 500000 500000 500000 500000 0 0 0 0 0 0 30,087 29,636 29,636 29,636 29,636 29,636 29,636 29,636 29,636 29,636 29,636 29,636 29,636 29,636 29,636 29,636 29,636 29,636 29,636 29,636 0 0 0 0 0 0 WITH(ST) 29,185 29,185 29,185 29,185 29,185 29,185 29,185 29,185 29,185 29,185 29,185 29,185 29,185 29,185 29,185 29,185 29,185 29,185 29,185 29,185 0 0 0 0 0 0 PREMIUM RETURN TAX BENEFIT FROM LIC 0 9018 0 9018 0 9018 0 9018 0 9018 75000 9018 0 9018 0 9018 0 9018 0 9018 75000 9018 0 9018 0 9018 0 9018 0 9018 75000 9018 0 9018 0 9018 0 9018 0 9018 75000 0 0 0 0 0 862500 0 RS.180360 RS.1162500 9.45% ACCIDENTAL TOTAL PRM WITHOUT( ST ) 30.09% 12,87,500 0 54 55 0 0 0 RS.583700 RS.593168 0 0 0 862500 RS.180360 RS.1162500 0 0 RS.593168 RS.583700 TOTAL MATURITY> R RS.1162500/- YIELD ON INVESTMENT COMPARE NEW WITH OLD PLAN OLD MONEY BACK PLAN 93-25 AGE LIFE ACCIDENTAL TOTAL PRM WITHOUT( ST ) 30.09% RETURN RISK RISK WITH(ST) PREMIUM TAX BENEFIT FROM LIC 30 6,47,000 30,087 29,185 500000 0 9018 31 6,69,000 29,636 29,185 9018 500000 0 32 6,91,000 29,636 29,185 500000 0 9018 33 7,13,000 29,636 29,185 9018 500000 0 34 7,35,000 29,636 29,185 500000 0 9018 35 7,57,000 29,636 29,185 9018 500000 75000 36 7,79,000 29,636 29,185 9018 500000 0 37 8,01,000 29,636 29,185 9018 500000 0 38 8,23,000 29,636 29,185 9018 500000 0 39 8,45,000 29,636 29,185 9018 500000 0 40 8,67,000 29,636 29,185 9018 500000 75000 500000 0 41 8,89,000 29,636 29,185 9018 42 9,11,000 29,636 29,185 9018 500000 0 43 9,33,000 29,636 29,185 500000 0 9018 500000 0 44 9,65,000 29,636 29,185 9018 45 9,87,000 29,636 29,185 9018 500000 75000 46 10,09,000 29,636 29,185 500000 0 9018 47 10,31,000 29,636 29,185 500000 0 9018 48 10,53,000 29,636 29,185 500000 0 9018 500000 0 49 10,85,000 29,636 29,185 9018 50 11,07,000 0 0 0 75000 0 51 11,29,000 0 0 0 0 52 11,51,000 0 0 0 0 53 11,73,000 0 0 0 0 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 RISK AGE LIFE 10% 48 880500 1380500 31898 22042 9856 0 1ST YR 3.09% & SUBSEOUENT 1.545% 49 910000 1410000 31898 22042 9856 0 PREMIUM 80 C 50 0 0 0 0 0 610000 MATURITY/DEATH CLAIM 10(10)D TOTAL>>>> RS.637960 RS.440840 RS.197120 RS.910000 ILLUSTRATION FOR AGE 30 YRS/ S.A. FOR 5LAKS/ TERM 20 YRS TOTAL MATURITY>RS.910000/- YIELD ON INVESTMENT> 10.68% AGENTS TRAINING MATERIAL PREPARED BY.P.T.PATIL DO LIC HUBLI III ONLY FOR PRIVATE CIRCULATION CEIS REBATE SERVICE TAX INCOME TAX BENEFIT U/S PROPOSAL FORMS COOLING OFF AGENTS COMMISSION RS.300/STD,NSAP I,II,III CAT. I.II.III ALLOWED 90% OF SV OF INFORCE POL. 80% OF PAID UP POL. FORECLOSURE NO ACTION WILL BE TAKEN SSV AVAILABLE AFTER 3YRS GSV AVAILABLE AFTER 3YRS REVIVAL WITHIN 2 YRS SURVIVAL BENEFITS 20% OF BSA PAYABLE ON AVAILABLE 5TH/10TH/15TH YR MATURITY S.A. 40% OF BSA+ SRB+FAB DEATH BENEFIT 125% OF BSA OR 10 TIMES OF ANNULISED PRM. MIN.PRM AGE PROOFS FEMALE CAT. NMG/NMS LOAN MODE OF PAYMENT MODE REBATE DAB/EPDB TERM RIDER PWB CIR DATING BACK NOMINATION ASSIGNMENT SUICIDE WITHIN 1YR RISK COMMENCES 13 YRS LBD 50 YRS ANB 70 YRS ANB 20YRS 20 YRS FIXED TERM 15YRS 100000 NO LIMIT 5000 MIN.AGE MAX,AGE MAX,MAT.AGE MIN.POLICY TERM MAX.POLICY TERM PRM.PAY.TERM MIN.S.A. MAX.S.A. MULTIPLE S.A. REBATE FOR S.A 1LAK TO 1.95> NIL 2LAKS TO 4.95=2% OF BSA 5LAKS ABOVE = 3% OF BSA ALL MODES YLY=2%,HLY=1%,QLY=NIL YES MAX. 50LAKS YES N/A NOT AVAILABLE YES YES YES 80% REFUND OF PRM. FROM DATE OF ACCEPTANCE 820 NEW MONEY BACK PLANS>>>>>>>>>>> SALIENT FEATURE MINIMIUM BASIC SUM ASSURED INCREASED REBATE FOR HIGHER SUM ASSURED INCREASED GUARANTEED SURRENDER VALUE DEFINITION CHANGE SERVICE TAX PAYABLE EXTRA * * * * * AGENTS TRAINING MATERIAL PREPARED BY P.T.PATIL DO LIC HUBLI III MOBILE:9448133179 E-MAIL:ptpatil179@gmail.com PLAN TODAY FOR BETTER TOMORROW SERVICE TAX PAYABLE EXTRA DON'T LURED BY LOWER PREMIUM CHECK THE CO'S CLAIM RATIO WILL TELL WHICH COMPANY IS RELIABLE OUR PRODUCT OBSERVATION'S ARE> * SUM ASSURED ON DEATH CONCEPT CHANGE * SURRENDER VALUE HAS BEEN INCREASED * LOAN AVAILABILITY WILL BE MORE * REDUCTION IN REBATE FOR MODE OF PAYMENT * REDUCTION IN PREMIUM TERM * FOR ALL AGE THERE IS A SLIGHT INCREASE IN PREMIUM * JUSTIFICATION IN SUICIDE CLAUSE BENEFITS * REMOVAL OF FORECLOSURE ACTION IS A ADDED POINT * MORE TRANSPERNT & USER FRIENDLY PLAN * EVEN SUITABLE FOR EMPLOYER/EMPLOYEE SCHEME & MWP * MINIMIUM BASIC SUM ASSURED INCREASED * REBATE FOR HIGHER SUM ASSURED INCREASED * GUARANTEED SURRENDER VALUE DEFINITION CHANGE MOBILE:9448133179 E-MAIL:ptpatil179@gmail.com PLAN TODAY FOR BETTER TOMORROW JUSTIFICATION IN SUICIDE CLAUSE BENEFITS REMOVAL OF FORECLOSURE ACTION IS A ADDED POINT MORE TRANSPERNT & USER FRIENDLY PLAN EVEN SUITABLE FOR EMPLOYER/EMPLOYEE SCHEME & MWP * * * * DON'T LURED BY LOWER PREMIUM CHECK THE CO'S CLAIM RATIO WILL TELL WHICH COMPANY IS RELIABLE OUR PRODUCT OBSERVATION'S ARE> * SUM ASSURED ON DEATH CONCEPT CHANGE * SURRENDER VALUE HAS BEEN INCREASED * LOAN AVAILABILITY WILL BE MORE * REDUCTION IN REBATE FOR MODE OF PAYMENT * REDUCTION IN PREMIUM TERM * FOR ALL AGE THERE IS A SLIGHT INCREASE IN PREMIUM