Statutory warning:
"Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your insurer carrying on life insurance business.
If your policy offers guaranteed returns then these will be clearly marked “guaranteed” in the illustration table on this page.
If your policy offers variable returns then the illustrations on this page will show two different rates of assumed future investment returns.
These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your policy is dependent on a number of factors including future investment performance.
"Illustration 1Age at entry: 0 years
Premium Paying Term: 1 Year
Single Premium: Rs. 73,980/-
Policy Term: 26 yearsSum Assured: Rs. 1,00,000/-
Year
Total Premiums Paid Till End Of Year
Benefit on Death during the year (Rs.)
Guaranteed
Variable
Total
Scenario 1
Scenario 2
Scenario 1
Scenario 2
1
73980
73980
0
0
73980
73980
2
73980
73980
0
0
73980
73980
3
73980
73980
0
0
73980
73980
4
73980
73980
0
0
73980
73980
5
73980
73980
0
0
73980
73980
6
73980
73980
0
0
73980
73980
7
73980
145000
0
12000
145000
157000
8
73980
152500
0
16000
152500
168500
9
73980
160000
0
21000
160000
181000
10
73980
167500
0
26000
167500
193500
15
73980
205000
0
67000
205000
272000
20
73980
242500
0
128000
242500
370500
26
73980
287500
0
277000
287500
564500
End of year
Benefit on Survival / Maturity at the end of Year
Guaranteed
Variable
Total
Scenario 1
Scenario2
Scenario1
Scenario2
18
20000
0
0
20000
20000
20
20000
0
0
20000
20000
22
30000
0
0
30000
30000
24
30000
0
0
30000
30000
26
195000
0
277000
195000
472000
Illustration 2Age at entry: 0 years
Premium Paying Term: 18 Years
Annual Premium: Rs. 7281/-Policy Term: 26 Years
Sum Assured: Rs. 1,00,000 /-
Year
Total premiums paid till end of year
Benefit on Death during the year (Rs.)
Guaranteed
Variable
Total
Scenario 1
Scenario 2
Scenario 1
Scenario 2
1
7281
7281
0
0
7281
7281
2
14562
14562
0
0
14562
14562
3
21843
21843
0
0
21843
21843
4
29124
29124
0
0
29124
29124
5
36405
36405
0
0
36405
36405
6
43686
43686
0
0
43686
43686
7
50967
145000
0
3000
145000
148000
8
58248
152500
0
5000
152500
157500
9
65529
160000
0
8000
160000
168000
10
72810
167500
0
11000
167500
178500
15
109215
205000
0
43000
205000
248000
20
131058
227500
0
71000
227500
298500
26
131058
242500
0
91000
242500
333500
End of year
Benefit on Survival / Maturity at the end of Year
Guaranteed
Variable
Total
Scenario 1
Scenario 2
Scenario 1
Scenario 2
18
20000
0
0
20000
20000
20
20000
0
0
20000
20000
22
30000
0
0
30000
30000
24
30000
0
0
30000
30000
26
195000
0
176000
195000
371000
(i) This illustration is applicable to a non-smoker male/female standard (from medical, life style and occupation point of view) life.
(ii) 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.
(iii) 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.
No comments:
Post a Comment