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The original, basic money back policy High liquidity Helps to fulfil your regular needs as well as long term needs Guaranteed survival benefit : 15% or 20% of basic sum assured paid at regular intervals of 5 years.
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Survival benefits already paid, are not deducted, if claim arises in case of unfortunate death. A with-profit policy, bonus calculated on full sum assured, despite regular survival benefit payouts. Now, loans available under the policy Optional benefits include term assurance rider and critical illness rider on payment of small additional premium.
Intro features benefits illustrations
Who can avail of this plan? Minimum age at entry : 13 years (completed) Maximum age at entry under Plan 75 : 50 years (nearest birthday). Maximum age at entry under Plan 93 : 45 years (nearest birthday). For how many years is risk cover available? Under Plan 75 : policy term is 20 years. Under Plan 93 : policy term is 25 years. For what amount is risk cover available? Minimum Sum Assured is Rs. 50,000. There is no maximum limit for Sum Assured but it depends on income. Is there any limit on maximum age at maturity? Yes, maximum age at maturity allowed: 70 years. For how many years is premium payable? Throughout the term.
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(A) Minimum & maximum age at entry: 18 years (lbd) & 50 years (nbd) (B) Maximum age at maturity : 60 years (C) Minimum Sum Assured for the Term Rider : Rs. 1,00,000 (E) Minimum S.A. of main plan on which Term Rider is given : Rs.1,00,000 (F) Maximum S.A. for Term Rider: An amount equal to the Basic S.A. subject to a max Rs. 25 lakhs overall limit on term riders on all plans). (G) Term : 10 to 35 years under regular premium policies; 5 to 35 years under Single premium policies &15, 20 and 25 years under limited premium paying term policies.
This rider shall be allowed only if age at maturity under the main policy is less than or equal to 60 years. The policy term and premium paying term of the rider should match with the policy term and premium paying term under the main policy.
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Intro
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Death Cover : Sum Assured + Vested Bonuses + Final Additional Bonus, if any, is payable in a lump sum on death of the life assured during the policy term. Maturity Benefit: 40% of the Sum Assured + Vested Bonuses + Final Additional Bonus, if any, is payable in a lump sum on survival to the end of the policy term
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Plan
Term in years
75
20
20
20% of S.A.
20% of S.A.
20% of S.A
40% of SA plus Vested Bonus plus Terminal Bonus,if any. 15% of S.A.
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93
25
25
15% of S.A.
15% of S.A.
15% of S.A.
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Illustration 1 (Table 75) : Age at entry : 35 years Policy Term : 20 Years Mode : Yearly Sum Assured : Rs. 1,00,000 /- Annual Premium : Rs. 6564 /End of year Benefit on survival / maturity at the end of year Total premiums Paid till end of year Variable Guaranteed Scenario 1 Scenario 2 Total Scenario 1 Scenario 2
1 2 3 4 5 6 7 8 9 10 15 20
6564 13128 19692 26256 32820 39384 45948 52512 59076 65640 98460 131280
0 0 0 0 0 0 0 0 0 0 0 53000
0 0 0 0 0 0 0 0 0 0 0 106000
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Illustration 1 (Table 75) : Age at entry : 35 years Policy Term : 20 Years Mode : Yearly Sum Assured : Rs. 1,00,000 /- Annual Premium : Rs. 6564 /End of year Total premiums paid till end of year Benefit on death during the year Variable Guaranteed Scenario 1 Scenario 2 Total Scenario 1 Scenario 2
1 2 3 4 5 6 7 8 9 10 15 20
6564 13128 19692 26256 32820 39384 45948 52512 59076 65640 98460 131280
100000 100000 100000 100000 100000 100000 100000 100000 100000 100000 100000 100000
2400 4800 7200 9600 12000 14400 16800 19200 21600 24000 36000 48000
4800 9600 14400 19200 24000 28800 33600 38400 43200 48000 72000 96000
102400 104800 107200 109600 112000 114400 116800 119200 121600 124000 136000 148000
104800 109600 114400 119200 124000 128800 133600 138400 143200 148000 172000 196000
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Illustration 2 (Table 93): Age at entry : 35 years Policy Term : 25 Years Mode : Yearly Sum Assured : Rs. 1,00,000 /- Annual Premium : Rs. 5507
End of year Total premiums paid till end of year Benefit on death during the year Variable Guaranteed Scenario 1 Scenario 2 Scenario 1 Total Scenario 2
1 2 3 4 5 6 7 8 9 10 15 20 25
5507 11014 16521 22028 27535 33042 38549 44056 49563 55070 82605 110140 137675
100000 100000 100000 100000 100000 100000 100000 100000 100000 100000 100000 100000 100000
2700 5400 8100 10800 13500 16200 18900 21600 24300 27000 40500 54000 67500
5800 11600 17400 23200 29000 34800 40600 46400 52200 58000 87000 116000 145000
102700 105400 108100 110800 113500 116200 118900 121600 124300 127000 140500 154000 167500
105800 111600 117400 123200 129000 134800 140600 146400 152200 158000 187000 216000 245000
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Illustration 2 (Table 93): Age at entry : 35 years Policy Term : 25 Years Mode : Yearly Sum Assured : Rs. 1,00,000 /- Annual Premium : Rs. 5507
End of year Total premiums paid till end of year Benefit on survival / maturityat the end of year Variable Guaranteed Scenario 1 Scenario 2 Scenario 1 Total Scenario 2
1 2 3 4 5 6 7 8 9 10 15 20 25
5507 11014 16521 22028 27535 33042 38549 44056 49563 55070 82605 110140 137675
0 0 0 0 0 0 0 0 0 0 0 0 74500
0 0 0 0 0 0 0 0 0 0 0 0 161000
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Illustrations assumptions
1. This illustration is applicable to a non-smoker male/female standard (from medical, life style and occupation point of view) life. 2. The non-guaranteed benefits (1) and (2) in above illustration are calculated so that they are consistent with the Projected Investment Rate of Return assumption of 6% p.a.(Scenario 1) and 10% p.a. (Scenario 2) respectively. In other words, in preparing this benefit illustration, it is assumed that the Projected Investment Rate of Return that LICI will be able to earn throughout the term of the policy will be 6% p.a. or 10% p.a., as the case may be. The Projected Investment Rate of Return is not guaranteed. 3. The main objective of the illustration is that the client is able to appreciate the features of the product and the flow of benefits in different circumstances with some level of quantification. 4. Future bonus will depend on future profits and as such is not guaranteed. However, once bonus is declared in any year and added to the policy, the bonus so added is guaranteed.
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