LIC Jeevan Labh Plan

JEEVAN LABH

Plan No.836By NvM

Endowment Plan

Limited Premium Paying Term

Non-Linked

With Bonus & FAB

Only 3 Policy Terms Options

Option -Term - Premium Paying Term

1. 16yrs – 10yrs 2. 21yrs – 15yrs 3. 25yrs – 16yrs

Eligibility: Age at Entry Minimum : 8yrs completed

Maximum: 59yrs Nbd for Policy Term 16yrs 54yrs Nbd for Policy Term 21yrs 50yrs Nbd for Policy Term 25yrs

Maturity Benefits:

Basic Sum Assured + Bonus + F A B

Death Benefits:

Sum Assured on Death + Bonus + FAB

Sum Assured on Death = Higher of

1. 10 times of Annualised Premium 2. Basic Sum Assured3. 105% of Total Premiums paid

Accidental Death & Disability Benefit Rider

Optional – Additional PremiumAvailable from 18yrs of AgeCover Available up to Policy Term Or Age 70 Nbd, Which Ever is EarlierCan be Added at Any Time (O/S PPT 5yrs)Maximum AB Cover 100 Lakhs

New Term Assurance Rider

Optional – Additional PremiumAvailable from 18yrs of AgeCover Available up to Policy Term

Can be Added at Proposal Stage OnlyMaximum TR Cover 25 Lakhs

Mode of Premium Payment

Yearly – 2% RebateHalf Yearly – 1% RebateQuarterly - Nil Monthly - Nil (ECS/SSS)

High Sum Assured Rebate

2,00,000 to 4,90,000 – Nil5,00,000 to 9,90,000 – 1.25%10,00,000 to 14,90,00 – 1.50%15,00,000 and Above - 1.75%

per Rs.1000 B.S.A

Other Features:Proposal Form 300/340/360Service TaxGrace Period (30/15 days)Paid Up ValueSurrender Value (GSV/SSV)Revival within 2yrs from FUPLoan After 3yrsSuicide after 12 months 80% premiumsFree Look Period 15days from OP ReceiptDating Back within Financial Year (JAAM)

Premium Calculation:

For Age 8yrs, 836/16/10, SA 1 Lakh, Yearly

Tab Premium – 84.802% Rebate - 1.696 83.104x 100 - 8310.40

Yearly Premium Rs.8310/-

Example

1

Maturity Benefit:

Basic Sum Assured: 1,00,000Bonus 42x100x16 : 67,200FAB : N I LTotal Maturity : 1,67,200

Total Premium Paid in 10yrs

8310 x 10 = 83,100

Total Maturity After 16yrs

= 1,67,200

I.R.R = 6.13%





Example

2

Maturity Benefit:

Basic Sum Assured : 1,00,000Bonus 48x100x21 : 1,00,800FAB 50x100 : 5,000 Total Maturity : 2,05,800


5385 x 15 = 80,775


= 2,05,800

I.R.R = 6.62%





Example

3

Maturity Benefit:

Basic Sum Assured : 1,00,000Bonus 48x100x25 : 1,20,000FAB 330x100 : 33,000 Total Maturity : 2,53,000


4567 x 16 = 73,072


= 2,53,000

I.R.R = 7.06%

Unique Selling Points:

Suitable for Education and MarriageShort Term CommitmentLong Term Risk Cover80C Tax Benefit (up to Rs.1.50 Lakhs)Tax Free MaturityAccident & Disability Cover up to 1 CroreNo Market Risk

Happy Selling

NvMDevelopment OfficerCity Branch – 8Chennai Division –IVoice: 98401 90360

LIC Jeevan Labh Plan

Business

Transcript of LIC Jeevan Labh Plan