Mr Proposer Sample Presentation For Demonstration Purpose Only
Plan 820: New Money Back Plan - 20 Years LIC's New Money Back Plan-20 years is a participating non-linked plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term. Features Benefits: Death benefit: On death during the policy term provided the policy is in full force, death benefit, defined as sum of Sum Assured on Death and vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Where, Sum Assured on Death is defined as higher of 125% of the Basic Sum Assured or 10 times of annualized premium. This death benefit shall not be less than 105% of the total premiums paid as on date of death. Maturity Benefit: In case of Life Assured surviving the stipulated date of maturity, 40% of the Basic Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Eligibility Conditions and Other Restrictions: Minimum Basic Sum Assured : Rs. 100,000 Maximum Basic Sum Assured : No Limit (The Basic Sum Assured shall be in multiples of Rs. 5000/-) Minimum Age at entry for Life Assured : 13 years (completed) Maximum Age at entry for Life Assured : 50 years (nearest birthday) Maximum Maturity Age for Life Assured : 70 years (nearest birthday) Term : 20 years Premium paying term (PPT) : 15 years Minimum Accident Benefit Sum Assured : Rs. 100,000 Maximum Accident Benefit Sum Assured : An amount equal to the Sum Assured under the Basic Plan subject to the maximum of Rs.50 lakh Accident Benefit Sum Assured taking all existing policies of the Life Assured under individual as well as group schemes including policies with in-built accident benefit taken with Life Insurance Corporation of India and the Accident Benefit Sum Assured under the new proposal into consideration. Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly mode (through ECS only) or through salary deductions over the term of policy. However, a grace period of one month but not less than 30 days will be allowed for yearly, half-yearly, quarterly modes and 15 days for monthly mode of premium payment. You can know ten things by learning one
Plan 189: Jeevan Akshay - VI Introduction : In view of the demand from various offices it has been decided to modify LIC s Jeevan Akshay VI plan. The modifications are as under: The plan shall also be sold online in addition to other existing distribution channels. Annuity option- Joint-life and 100% of annuity to spouse on death of the annuitant with return of purchase price on death of last survivor shall also be available in addition to the existing six options. Reduction in the minimum age at entry and increase in maximum age at entry. Minimum premium amount for online sale shall be Rs. 1.5 lacs and for other distribution channels it shall be Rs. 1 lac. Slabs of incentive for higher purchase price have been modified. Service tax to be collected from the policyholder along with the purchase price. Features Benefits: The first instalment of annuity shall be paid one year, six months, three months or one month after the date of purchase of the annuity depending on whether the mode of annuity payment is yearly, half-yearly, quarterly or monthly respectively. Further, annuity shall be paid during the life time of the annuitant with following provisions on death of the annuitant for different options: (a) Under option (i) - payment of annuity ceases. (b) Under option (ii) i. On death during the guarantee period - annuity is paid to the nominee till the end of the guaranteed period after which the same ceases. ii. On death after the guarantee period - payment of annuity ceases. (c) Under option (iii) - payment of annuity ceases and the purchase price is returned to the nominee. (d) Under option (iv) - payment of annuity ceases. (e) Under option (v) - payment of annuity ceases and 50% of the annuity is paid to the surviving named spouse during his/her life time. If the spouse predeceases the annuitant, nothing is payable after the death of the annuitant. (f) Under option (vi) - payment of annuity ceases and 100% of the annuity is paid to the surviving named spouse during his/her life time. If the spouse predeceases the annuitant, nothing is payable after the death of the annuitant. (g) Under option (vii) - payment of annuity ceases. 100% of the annuity is paid to the surviving named spouse during his/her life time and purchase price is returned to the nominee after the death of the spouse. If the spouse predeceases the annuitant, the annuity ceases and purchase price is paid to the nominee. When in doubt, tell the truth
Presentation Details Plan Plan Name Term / PPT Sum Assured Bonus Mode *Premium Total Prem's Paid Maturity Year Maturity Amount 820 New Money Back Plan - 20/15 1150000 39 Yly 89766 1327656 2034 1403000 189 Jeevan Akshay - VI 0/1 1360947 0 SP 1403000 0 0 Total: 2510947 1492766 1327656 Note: The above Statements are based on certain assumptions, which are liable to change according to Government / Corporation's Policies. * Rider Premiums are included in Premium. * NI is number of installments. The FAB for Plan 820/20/15 is Rs. 40 Rider Details Plan Term 820 20 15 PPT Rider Name Rider Sum Rider Term Rider Premium Total Prem's Paid Double Accident Benefit 1150000 15 1380 20700 Total 1380 20700 Agents Copy Sr. No. DOC Pn / Tm / PPT Sum Assured Mode Yearly Half Yearly Quaterly Monthly SSS/ECS Single Per Day No of Inst. 1 23/07/2014 820/20/15 1150000 89766 45352 22910 7637 7637 0 245.93 0 2 23/07/2034 189/0/1 1360947 0 0 0 0 0 1403000 0.00 0 89766 45352 22910 7637 7637 1403000 246 Note: The Single Premium for Plan 189 shown in above table is Inclusive of Service Tax. A hard thins about business is minding your own
Nobody Plans to Fail They Just Fail to Plan Benefits During Investment Period The Premium Paying period is the productive period of your life. During this period you have to make provision for your retirement by paying annual premium of 89766/-. Tax Slab: @30.00% Date Age Natural life cover Accidental life cover Annual Investment This presentation give an effective yield of 9.37% Tax Saved Net Investment Income from LIC Surrender Value Total Loan Available 23/07/2014 30 1482350 2632350 89766 26930 62836 0 0 0 23/07/2015 31 1527200 2677200 88421 26526 61895 0 0 0 23/07/2016 32 1572050 2722050 88421 26526 61895 0 0 0 23/07/2017 33 1616900 2766900 88421 26526 61895 0 100192 90173 23/07/2018 34 1661750 2811750 88421 26526 61895 0 203896 183506 23/07/2019 35 1706600 2856600 88421 26526 61895 230000 25878 23290 23/07/2020 36 1751450 2901450 88421 26526 61895 0 78534 70681 23/07/2021 37 1796300 2946300 88421 26526 61895 0 129956 116960 23/07/2022 38 1841150 2991150 88421 26526 61895 0 199777 179799 23/07/2023 39 1886000 3036000 88421 26526 61895 0 273075 245768 23/07/2024 40 1930850 3080850 88421 26526 61895 230000 122131 109918 23/07/2025 41 1975700 3125700 88421 26526 61895 0 206460 185814 23/07/2026 42 2020550 3170550 88421 26526 61895 0 296292 266663 23/07/2027 43 2065400 3215400 88421 26526 61895 0 391989 352790 23/07/2028 44 2133250 3283250 88421 26526 61895 0 493779 444401 23/07/2029 45 2178100 3328100 0 0 0 230000 372229 335006 23/07/2030 46 2222950 3372950 0 0 0 0 424720 382248 23/07/2031 47 2267800 3417800 0 0 0 0 480592 432533 23/07/2032 48 2312650 3462650 0 0 0 0 540706 486635 23/07/2033 49 2380500 3530500 0 0 0 0 610549 549494 23/07/2034 50 0 0 0 0 0 1403000 208854 187969 Note: * Total 1327656 398294 929362 The above Statements & Quotation are as per present calculations & certain assumptions, which are liable to change according to Government / Corporation's Policies. * In Plan 165 LA is given on maturity depending upon the Experience of LIC. If Maturity of following Vested Plans is invested in LIC's Jeevan Akshay then Life Assured will get the benefits given in following table. Year Plan (Vested) Plan (Purchased) Annuity Option Amount Invested Annuity Mode Pension Amount On Commutation On Death Amount Pension 2034 820 189 Return of 1360947 Yly 1360947 0 purchase price For Plan 189, The Amount Invested is the amount with deducting Service charge. A friend is someone who reaches for your hand and touches you heart
Benefits After Investment Period In this period your risk cover will continue for Lifetime. In case of your unfortunate death your dependents will get an amount equal to 1910947/-. Date Age Natural Life cover Accidental Life cover 23/07/2035 51 1910947 1910947 23/07/2036 52 1910947 1910947 23/07/2037 53 1910947 1910947 23/07/2038 54 1910947 1910947 23/07/2039 55 1910947 1910947 23/07/2040 56 1910947 1910947 23/07/2041 57 1910947 1910947 23/07/2042 58 1910947 1910947 23/07/2043 59 1910947 1910947 23/07/2044 60 1910947 1910947 23/07/2045 61 1910947 1910947 23/07/2046 62 1910947 1910947 23/07/2047 63 1910947 1910947 23/07/2048 64 1910947 1910947 23/07/2049 65 1910947 1910947 23/07/2050 66 1910947 1910947 23/07/2051 67 1910947 1910947 23/07/2052 68 1910947 1910947 23/07/2053 69 1910947 1910947 23/07/2054 70 1910947 1910947 23/07/2055 71 1910947 1910947 23/07/2056 72 1910947 1910947 23/07/2057 73 1910947 1910947 23/07/2058 74 1910947 1910947 23/07/2059 75 1910947 1910947 23/07/2060 76 1910947 1910947 23/07/2061 77 1910947 1910947 23/07/2062 78 1910947 1910947 23/07/2063 79 1910947 1910947 23/07/2064 80 1910947 1910947 23/07/2065 81 1910947 1910947 23/07/2066 82 1910947 1910947 23/07/2067 83 1910947 1910947 23/07/2068 84 1910947 1910947 23/07/2069 85 1910947 1910947 23/07/2070 86 1910947 1910947 23/07/2071 87 1910947 1910947 23/07/2072 88 1910947 1910947 23/07/2073 89 1910947 1910947 23/07/2074 90 1910947 1910947 23/07/2075 91 1910947 1910947 23/07/2076 92 1910947 1910947 23/07/2077 93 1910947 1910947 23/07/2078 94 1910947 1910947 23/07/2079 95 1910947 1910947 23/07/2080 96 1910947 1910947 Yearly Income Life is so much simpler when you tell the truth
23/07/2081 97 1910947 1910947 23/07/2082 98 1910947 1910947 23/07/2083 99 1910947 1910947 23/07/2084 100 1910947 1910947 1462133 As shown in above table the [Life Cover ] Rs. 1910947 Continues till the death of life assured. As shown in above table the [Income From LIC ] Rs. p.a. Continues till the death of life assured. * The above Statements & Quotation are as per present calculations & certain assumptions, which are liable to change according to Government / Corporation's Policies. It takes years to build up trust, and only seconds to destroy it