LIC New Plans One Ppt 2014
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Transcript of LIC New Plans One Ppt 2014
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10/31/2014 STC- HGD 1
H G DASARFM,STC Bangalore
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1.LICs Single Premium
Endowment Plan
Plan No. 817UIN 512N283V01
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Single Premium
With Profit Endowment Plan
Minimum Age at entry is 90 days
Loan available after completion of one year
Back dating is allowed
SINGLE PREMIUM ENDOWMENT Highlights
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Death Benefit
Maturity Benefit =
Sum Assured Plus + Simple Reversionary Bonuses Plus
+ Final Additional Bonus, if any.
After Commencement of Risk Before Commencement of Risk #
Sum Assured plus vested Simple Reversionary
bonuses and final additional bonus , if any.
Return of Single Premium excluding
taxes and extra premiums, if any.
# In case the age at entry of Life Assured is less than 8 years, risk will commence either 2years from the DOC OR policy anniversary after completion of 8 years of age whichever is
earlier, for others risk shall commence immediately.
SINGLE PREMIUM ENDOWMENT PLAN
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Available after completion of 1 policy year.
Amount of loan will depend on year of Policy and Policy Term.
The maximum loan shall be granted as a*
% of S V.
Policy Year
Term 2 3 6 9 12 13 and
aboveUpto 15 yrs 55% 60% 80% 90% 90% 90%
16 to 20 yrs 40% 45% 60% 80% 90% 90%
21 yrs and above 30% 30% 45% 60% 80% 90%
* Some Examples of Loan as a percentage of Surrender Value are given below
Loan :SINGLE PREMIUM ENDOWMENT PLAN
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The policy can be surrendered at any time during the policy term.
Higher of Guaranteed Surrender Value or Special Value shall bepayable.Guaranteed Surrender Value(GSV):1st Year ~ 70 of Single Premium excluding taxes and extra premium,
if any.Thereafter ~ 90 of Single Premium excluding taxes and extra
premium, if any. Plus Surrender Value of vested bonuses.
Special Surrender Value (SSV):Discounted value of Sum Assured and vested simple reversionarybonuses
SINGLE PREMIUM ENDOWMENT PLAN
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10/31/2014 STC- HGD 8
Remember. 1. Single Premium2. Age at entry 90 day s ?3. Risk Commencement @ age 8years
4. Maturity claim :a) SA + Bonus +FAB if any5. Death Claim :
a) Before commencement of RiskRe turn of SP Taxes Extra
b) SA + Bonus * + FAB if any
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10/31/2014 STC- HGD 9
6. Loan after 1 year 30% - 90%7. Maturity age 18 to 75 years.8. Term 10 to 25 years
9. SA Min 50,000 -- Max No limit10.GSV 70% of SP Ist year Tax-Extra
- 90% of SP Tax-Extra thereafter
11. SSV - Discounted value of SA &vested bonus
12. Revival within 2 years
Remember.
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2.LICs NEW ENDOWMENT
PLAN
Table No. 814
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Table No. 14Endowment Assurance Plan
Table No.814New Endowment Plan
Maturity Benefit Maturity BenefitBasic Sum Assured along with
Vested Simple Reversionary
Bonuses and Final Additional
Bonus, if Any.
Basic Sum Assured along with
Vested Simple Reversionary Bonuses and
Final Additional Bonus, if Any.
Death Benefit Death Benefit
Sum Assured (SA) along with
Vested Simple ReversionaryBonuses and
Final Additional Bonus, if any.
Sum Assured on Death along with Vested
Simple Reversionary Bonuses and FinalAdditional Bonus, if any.
The death benefit as defined above shall not be
less than 105% of total premiums* paid as on the
date of death.
Modified Sum
Assured onDeath' insteadof SA.
Nochange
New Endowment Plan Benefits
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What is Sum Assured on Death?
Sum Assured on Death shall be Higher of ~
Basic Sum Assured (BSA)
OR
10 times Annualised Premium. (10 x AP) .
[*The premiums mentioned in death benefit are excludingtaxes, extra premiums and premiums for riders, if any ]
New Endowment Plan Benefit on Death
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ModeRebate
Table No. 14 Table No. 814
Yearly 3% of tabular Premium 2% of tabular premium
Half-yearly 1.5% of tabular premium 1% of tabular premium
Quarterly Nil Nil
Table No 14Endowment Assurance Plan
Table No. 814New Endowment Plan
Basic Sum Assured Rebate (Rs.) Basic Sum Assured Rebate (Rs.)
100001 and above 2.00 SA 5,00,000 and above 3.00 BSA
50001 to 100000 1.00 SA 2,00,000 to 4,95,000 2.00 BSA
Upto 50000 Nil
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Table No. 14Endowment Assurance Plan
Table No. 814New Endowment Plan
Available after payment of 3 fullyears premiums.
Available after payment of 3 fullyears premiums.
Loan granted shall be 90% of theSurrender Value in case of inforcepolicies and 85% of the SurrenderValue in case of Paid-up policiesirrespective of the policy term.
The maximum amount of loan thatcan be granted as a percentage ofSurrender Value shall depend onthe Policy Term , as given in thetable below.
Foreclosure action was initiated ondefault of 2 or more half-yearlyloan interest installments.
Foreclosure action shall not betaken under fully paid-up andinforce policies even if there isdefault of loan interest.
Policy Term Upto 23 24 to 27 28 to 31 32 to 35
% for inforce policies 90% 80% 70% 60%
% for Paid-up policies 80% 70% 60% 50%
% of loanmodified
LICs New Endowment Plan ~ Policy Loan
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Table No.14 Table No. 814Guaranteed Surrender Value (GSV) Guaranteed Surrender Value (GSV)
Available after payment of 3 full yearspremiums.
Available after payment of 3 full yearspremiums.
GSV shall be equal to 30% of the totalpremiums paid less First Year Premiumand extra premium, if any.
GSV shall be a percentage of totalpremiums paid (net of taxes) excludingextra premium, if any and premium paidfor riders,if opted for.Examples of GSV factors applicable fortotal premiums paidPolicy Year ~ GSV factor
3 = 30%5 = 50%
t -1 = 80% (t=Policy Term)Cash Value of vested bonuses, if any. GSV factor applicable to vested bonus, if
any. Examples of Vested bonus factors Year of SV Policy Term Factor
3 12 18.60%19 25 20.85%29 30 30%
LICs New Endowment Plan ~ Surrender Value
GSV %modified
BonusPayablemodified
NoChange
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Table No. 14
Endowment Assurance Plan
Table No. 814
New Endowment PlanSpecial Surrender Value (SSV) Special Surrender Value (SSV)
Surrender Value shall be thediscounted value of the Paid-up SumAssured and vested simple
reversionary bonuses.
Surrender Value shall be thediscounted value of the Paid-up SumAssured and vested simple
reversionary bonuses.The discount factors shall besurrender value factors as provided inTable-1A of the Special SurrenderValue Booklet and will depend uponthe policy term and duration elapsedsince the commencement of the policy.
The discount factors shall besurrender value factors as provided inTable-1A of the Special SurrenderValue Booklet and will depend uponthe policy term and duration elapsedsince the commencement of the policy.
Surrender Value Payable Surrender Value payableThe Higher of Guaranteed SurrenderValue and Special Surrender Valueshall be payable.
The Higher of Guaranteed SurrenderValue and Special Surrender Valueshall be payable.
No change in SSV
LICs New Endowment Plan
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Table No 14Endowment Assurance Plan
Table No 814New Endowment plan
A Policy may be revived within aperiod of 5 years from the date of firstunpaid premium.
A Policy may be revived within aperiod of 2 years from the date of firstunpaid premium.
Taxes, if any , were borne by thecorporation.
Taxes, if any, shall be applicable at theprevailing rates and borne by thepolicyholder as per rules.
There shall be no change in thefollowing Items
Back Dating
Grace PeriodPaid-up Value
Assignment/Nomination
LICs New Endowment Plan ~ Table No. 814
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3. LICs NEW MONEY BACKPLAN 20 Years
( Plan No. 820 )
UIN : 512N280V01
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Money Back Plan -20 yearsPlan No. 75
New Money Back Plan 20 yearsPlan No. 820
Maturity Benefit Maturity Benefit
40% of the Basic Sum Assured alongwith
Vested Simple Reversionary Bonuses and
Final Additional Bonus, if any.
40% of the Basic Sum Assured alongwith
Vested Simple Reversionary Bonusesand
Final Additional Bonus, if any.Death Benefit Death Benefit
Basic Sum Assur ed (BSA) along withVested Simple Reversionary Bonuses and
Final Additional Bonus, if any.
Sum Assured on Death along withVested Simple Reversionary Bonuses
andFinal Additional Bonus, if any.
The death benefit as defined above shallnot be less than 105% of total
premiums* paid as on the date of death .
Modification-Sum Assured onDeath' instead ofSA
LICs New Money Back Plan -20 years ~ Benefits
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What is Sum Assured on Death?
Sum Assured on Death shall be Higher of ~
125% of Basic Sum Assured (1.25 x BSA)OR
10 times Annualised Premium.(10 x AP).
[Premiums - excluding taxes, extra premiums and premiums
for riders, if any ]
LICs New Money Back Plan -20 years ~ Benefits
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Survival BenefitPolicy Year 5th 10 th 15 th Survival BenefitPayable 20% 20% 20%
Money Back Plan -20 yearsPlan No. 75 New Money Back Plan 20 yearsPlan No. 820
Paid-up value per thousand Sum AssuredPaid up value shall be equal t o
[(Number of premiums paid/ Total
Number of premiums payable)x Basic
Sum Assured less total amount of
Survival Benefits paid under the policy.
Year Year
6,11 70 15 50
2,7,12 140 16 120
3,8,13 210 17 190
4,9,14 280 18 260
19 330
20 400
LICs New Money Back Plan -20 years ~ Benefits
NOChange
in SB
Paid-upValue
modified
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ParticularsMoney Back Plan -20 years
( Plan No. 75)New Money Back Plan 20
years ( Plan No. 820)
Age at entry 13 to 50 years 13 to 50 years
Age at Maturity Maximum 70 years Maximum 70 Years
Policy Term 20 years 20 years
PremiumPaying Term
20 Years 15 Years
Premium mode Yearly, Half-yearly, Quarterly,Monthly (SSS or ECS)
Yearly, Half-yearly, Quarterly,Monthly (SSS or ECS)
Basic SumAssured
50,000 and above1,00,000 and above
( In multiples of 5000)
PremiumPayingtermmodified
LICs New Money Back Plan -20 years ~Eligibility Conditions and Restrictions
MinimumSumAssuredmodified
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ModeRebate
Plan No. 75 Plan No. 820
Yearly 3% of tabular Premium 2% of tabular premium
Half-yearly 1.5% of tabular premium 1% of tabular premium
Quarterly Nil Nil
Money Back Plan -20 yearsPlan No. 75
New Money Back Plan 20 yearsPlan No. 820
Basic Sum Assured Rebate (Rs.) Basic Sum Assured Rebate (Rs.)
1,00,000 and above 2.00 SA 5,00,000 and above 3.00 BSA
50001 to 1,00,000 1.00 SA 2,00,000 to 4,95,000 2.00 BSA
Upto 50000 Nil 1,00,000 to 1,95,000 Nil
Slab & Ratemodified
Ratemodified
LICs New Money Back Plan -20 years ~ Rebates
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Money Back Plan -20 years
Plan No. 75
New Money Back Plan 20 years
Plan No. 820
Available after payment of 3 full year s
premiums.
Available after payment of 3 full years premiums.
Loan granted shall be 90% of the
Surrender Value in case of inforce
policies and 85% of the Surrender
Value in case of Paid-up policies.
The maximum amount of loan that can be granted
as a percentage of Surrender Value be as under:
For inforce and fully paid-up policies upto 90%
For paid-up policies 80%
Foreclosure action shall be initiated on
default of 2 or more half-yearly loan
interest installments.
Foreclosure action shall not be taken under fully
paid-up and inforce policies even if there is
default of loan interest.
% of loanmodified
LICs New Money Back Plan -20 years ~ Loan
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Plan No. 75 Plan No. 820
Guaranteed Surrender Value (GSV) Guaranteed Surrender Value (GSV)
Available after payment of 3 full years premiums.
Available after payment of 3 full years premiums.
Before Payment of Survival Benefit:GSV shall be equal to 30% of the total
premiums paid less First Year Premium andextra premium, if any.After Payment of Survival Benefit:GSV shall be 30% of the premiums paid afterthe due date on which last SB was paid lessextra premium, if any.
GSV shall be a percentage of total premiums paid (net of taxes) excluding extra premium, ifany and premium paid for riders, if opted for.Less any survival Benefits already paid.Examples of GSV factors applicable for total
premiums paidPolicy Year ~ GSV factor
3 = 30%5 = 50%
t -1 = 80% (t=Policy Term)Cash Value of vested bonuses, if any. GSV factor applicable to vested bonus, if any.
Examples of Vested bonus factors Year of SV Factor
3 16.21%10 18.16%
19 30%
GSV %
modified
BonusPayable
modified
NoChange
LICs New Money Back Plan -20 years ~ Surrender Value
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Money Back Plan -20 years
Plan No. 75
New Money Back Plan 20 years
Plan No. 820 Special Surrender Value (SSV) Special Surrender Value (SSV)
Surrender Value shall be the discountedvalue of the Paid-up Sum Assured andvested simple reversionary bonuses.
Surrender Value shall be the discountedvalue of the Paid-up Sum Assured andvested simple reversionary bonuses.
The discount factors shall be specialsurrender value factors as provided in Table-1A of the Special Surrender Value Bookletand will depend upon the policy term andduration elapsed since the commencement ofthe policy.
The discount factors shall be specialsurrender value factors as provided in Table-1A of the Special Surrender Value Bookletand will depend upon the policy term andduration elapsed since the commencement ofthe policy.
Surrender Value Payable Surrender Value payable
The Higher of Guaranteed Surrender Valueand Special Surrender Value shall be
payable.
The Higher of Guaranteed Surrender Valueand Special Surrender Value shall be
payable.
No change in SSV
LICs New Money Back Plan -20 years ~ Surrender Value
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Money Back Plan -20 yearsPlan No. 75
New Money Back Plan 20 yearsPlan No. 820
A Policy may be revived within aperiod of 5 year s from the date offirst unpaid premium.
A Policy may be revived within aperiod of 2 years from the date offirst unpaid premium.
Taxes, if any , were borne by the
corporation.
Taxes , if any, shall be applicable at
the prevailing rates and borne bythe policyholder as per rules.
There shall be no change inthe following Items
Back DatingGrace Period
Assignment/Nomination
LICs New Money Back Plan -20 years
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10/31/2014 STC- HGD 29
1.Maturity = 40%SA + Bonus = FAB
2.Sum Assured on Death has beendefined separately. i,e Higher of
a) 105% of Prem paid
b) 10 Times of APc) 125 % of BSA
3. Age at entry has not been changed
from 13-50 .4. PPT changed from 20 to 15 Years
Remember..
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10/31/2014 STC- HGD 31
8. Rebates for high SA andpremium mode modifie
9. Revival within 2 years8. Age at entry changed 12-65 to
8-559. Term Change 5-55 to 12-3510. Min SA Changed 50,000 to
1,00,00011. Modes allowed
Yly,Hly,Qty,SSS & ECS
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4. LICs NEW MONEY BACK PLAN
25 Years ( Plan No. 821 )
UIN:51278VO1
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What is Sum Assured on Death?
Sum Assured on Death shall be Higher of ~
125 of Basic Sum Assured (1.25 x BSA)
OR
10 times Annualised Premium.(10 x AP).
[*Premiums - excluding taxes, extra premiums and premiums forriders, if any ]
LICs New Money Back Plan -25 years ~ Benefits
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Survival BenefitPolicy Year 5th 10 th 15 th 20 th SurvivalBenefit Payable 15% 15% 15% 15%
Money Back Plan -25 yearsPlan No. 93 New Money Back Plan 25 yearsPlan No. 821
Paid-up value per thousand Sum AssuredPaid up value shall be equal to
[(Number of premiums paid/ Total
Number of premiums payable)x Basic
Sum Assured less total amount of
Survival Benefits paid under the policy.
Year Year
6,11,16 62 20 90
2,7,12,17 124 21 152
3,8,13,18 186 22 214
4,9,14,19 248 23 276
24 338
25 400
LICs New Money Back Plan -25 years ~ Benefits
NOChange inSB
Paid-upValue
modified
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ModeRebate
Plan No. 93 Plan No. 821
Yearly 3% of tabular Premium 2% of tabular premium
Half-yearly 1.5% of tabular premium 1% of tabular premium
Quarterly Nil NilMoney Back Plan -25 years
Plan No. 93 New Money Back Plan 25 years
Plan No. 821 Basic Sum Assured Rebate (Rs.) Basic Sum Assured Rebate (Rs.)
1,00,000 and above 2.00 SA 5,00,000 and above 3.00 BSA
50001 to 1,00,000 1.00 SA 2,00,000 to 4,95,000 2.00 BSA
Upto 50000 Nil 1,00,000 to 1,95,000 Nil
Slab & Ratemodified
Ratemodified
LICs New Money Back Plan -25 years ~ Rebates
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Money Back Plan -25 years
Plan No. 93
New Money Back Plan 25 years
Plan No. 821Available after payment of 3 full years
premiums.
Available after payment of 3 full years premiums.
Loan granted shall be 90% of the
Surrender Value in case of inforce
policies and 85% of the Surrender
Value in case of Paid-up policies.
The maximum amount of loan that can be granted
as a percentage of Surrender Value be as under:
For inforce and fully paid-up policies upto 90%
For paid-up policies 80%
Foreclosure action shall be initiated on
default of 2 or more half-yearly loan
interest installments.
Foreclosure action shall not be taken under fully
paid-up and inforce policies even if there is
default of loan interest.
% of loanmodified
LICs New Money Back Plan -25 years ~ Loan
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LIC N M B k Pl 25 S d V l
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Money Back Plan -25 years
Plan No. 93
New Money Back Plan 25 years
Plan No. 821 Special Surrender Value (SSV) Special Surrender Value (SSV)
Surrender Value shall be the discountedvalue of the Paid-up Sum Assured andvested simple reversionary bonuses.
Surrender Value shall be the discountedvalue of the Paid-up Sum Assured andvested simple reversionary bonuses.
The discount factors shall be specialsurrender value factors as provided in Table-1A of the Special Surrender Value Bookletand will depend upon the policy term andduration elapsed since the commencement ofthe policy.
The discount factors shall be specialsurrender value factors as provided in Table-1A of the Special Surrender Value Bookletand will depend upon the policy term andduration elapsed since the commencement ofthe policy.
Surrender Value Payable Surrender Value payable
The Higher of Guaranteed Surrender Valueand Special Surrender Value shall be
payable.
The Higher of Guaranteed Surrender Valueand Special Surrender Value shall be
payable.
No change in SSV
LICs New Money Back Plan -25 years ~ Surrender Value
LIC N M B k Pl 25
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Money Back Plan -25 yearsPlan No. 93
New Money Back Plan 25 yearsPlan No. 821
A Policy may be revived within aperiod of 5 years from the date of firstunpaid premium.
A Policy may be revived within aperiod of 2 years from the date of firstunpaid premium.
Taxes, if any , were borne by theCorporation.
Taxes, if any, shall be applicable at theprevailing rates and borne by the
policyholder as per rules.
There shall be no change inthe following Items
Back Dating
Grace PeriodAssignment/Nomination
LICs New Money Back Plan -25 years
R b
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10/31/2014 STC- HGD 42
1.Maturity = 40%SA + Bonus = FAB2.Sum Assured on Death has been definedseparately. i,e Higher of
a) 105% of Prem paidb) 10 Times of APc) 125 % of BSA
3. Age at entry has not been changedfrom 13-45 .
4. PPT changed from 25 to 20 Years
Remember..
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10/31/2014 STC- HGD 43
5. Min 50,000 to 1,00,000 SA6. Rebate Slab and rate changed .7.GSV percentage shall also
depend on policy term andyear of Surrender viz:Policy Year ~ GSV factor
3 = 30%5 = 50%
t -1 = 80% (t=Policy Term)
Remember..
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10/31/2014 STC- HGD 44
8. Rebates for high SA andpremium mode modifie
9. Revival within 2 years8. Age at entry changed 12-65 to
8-559. Term Change 5-55 to 12-3510. Min SA Changed 50,000 to
1,00,00011. Modes allowed
Yly,Hly,Qty,SSS & ECS
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5. LICs NEW JEEVAN ANAND
PLAN
Plan No. 815
LI s New Jeevan Anand Plan Benefits
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Jeevan AnandPlan No. 149
New Jeevan AnandPlan No. 815
Maturity Benefit Maturity BenefitBasic Sum Assured along with
Vested Simple Reversionary Bonusesand
Final Additional Bonus, if Any .
Basic Sum Assured along withVested Simple Reversionary Bonuses
and
Final Additional Bonus, if AnyDeath Benefit Death Benefit
During the policy termBasic Sum A ssured BSA) along
with Vested Simple ReversionaryBonuses and
Final Additional Bonus, if any.After expiry of policy term
Basic Sum Assured
During the policy termSum Assured on Death * along
with Vested Simple ReversionaryBonuses and
Final Additional Bonus, if any.After expiry of policy term
Basic Sum Assured
Modification-Sum Assured onDeath' instead
of BSA
LI s New Jeevan Anand Plan Benefits
LI s New Jeevan Anand Plan Benefits
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What is Sum Assured on Death? *
Sum Assured on Death shall be Higher of ~
125 of Basic Sum Assured (1.25 x BSA)
OR
10 times Annual Premium.(10 x AP).
The death benefit as defined above shall not be less than105 of total premiums* paid as on the date of death .
[*excluding taxes, extra premiums and premiums for riders, if any ]
LI s New Jeevan Anand Plan Benefits
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Particulars Jeevan AnandPlan No. 149 New Jeevan Anand Plan No. 815
Age at entry 18 to 65 years 18 to 50 years
Age at
MaturityMaximum 75 years Maximum 75 Years
Policy Term 5 to 57 years 15 to 35 years
Premium
mode
Yearly, Half-yearly,Quarterly, Monthly (SSSor ECS)
Yearly, Half-yearly,Quarterly, Monthly (SSSor ECS)
Basic SumAssured 100000 and above
100000 and above( In multiples of 5000)
Maximum Age at
entryreduced.
Policyterm
modified
LI s New Jeevan Anand Plan Eligibility Conditions and Restrictions
LI s New Jeevan Anand Plan Rebates
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Mode RebatePlan 149 Plan No. 815
Yearly 3% of tabular Premium 2% of tabular premium
Half-yearly 1.5% of tabular premium 1% of tabular premium
Quarterly Nil Nil
Plan No 149Jeevan Anand
Plan No. 815New Jeevan Anand
Basic Sum Assured Rebate (Rs.) Basic Sum Assured Rebate (Rs.)
10,00,000 and above 1.75 BSA 10,00,000 and above 3.00 BSA
5,00,000 to 9,95,000 1.50 BSA 5,00,000 to 9,95,000 2.50 BSA
3,00,000 to 4,95,000 1.00 BSA 2,00,000 to 4,95,000 1.50
1,00,000 to 2,95,000 Nil 1,00,000 to 1,95,000 Nil
Slab & Ratemodified . . .
Ratemodified
Jeevan Anand Plan Rebates
LI s New Jeevan Anand Plan Loan
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Jeevan AnandPlan No. 149
New Jeevan AnandPlan No.815
Available after payment of 3 full years premiums.
Available after payment of 3 full years premiums.
Loan granted shall be 90% of the Surrender
Value in case of inforce policies and 85% of
the Surrender Value in case of Paid-up
policies irrespective of the policy term.
The maximum amount of loan that can be
granted as a percentage of Surrender Value
shall depend on the Policy Term, as given in
the table below .*
Foreclosure action was initiated on default of
2 or more half-yearly loan interest
installments.
Foreclosure action shall not be taken under
fully paid-up and inforce policies even if
there is a default of loan interest.
Policy Term Upto 23 24 to 27 28 to 31 32 to 35
% for inforce policies 90% 80% 70% 60%
% for Paid-up policies 80% 70% 60% 50%
% of loanmodified
Jeevan Anand Plan Loan
*
LI s New Jeevan Anand Plan Surrender Value
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Plan No.149 Plan No. 815Guaranteed Surrender Value (GSV) Guaranteed Surrender Value (GSV)
Available after payment of 3 fullyears premiums. Available after payment of 3 fullyears premiums.
GSV shall be equal to 30 of the total premiums paid less First YearPremium and extra premium, if any.
GSV shall be a percentage of total premiums paid (net of taxes)excluding extra premium, if any and
premium paid for riders,if opted for.Examples of GSV factors applicable
for total premiums paidPolicy Year ~ GSV factor
3 = 30%5 = 50%
t -1 = 80% (t=Policy Term)
Cash Value of vested bonuses, if any. GSV factor applicable to vestedbonus,if any. Examples of Vestedbonus factors Year of SV Policy Term Factor
3 15 17.66%19 25 20.85%29 30 30%
GSV %modified
No Change
Jeevan Anand Plan Surrender Value
LI s New Jeevan Anand Plan Surrender Value
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Jeevan Anand
Plan No. 149
New Jeevan Ananad
Plan 815Special Surrender Value (SSV) Special Surrender Value (SSV)
Surrender Value shall be the discountedvalue of the Paid-up Sum Assured andvested simple reversionary bonuses.
Surrender Value shall be the discountedvalue of the Paid-up Sum Assured andvested simple reversionary bonuses.
The discount factors shall be surrender valuefactors as provided in Table-1A and2A(whole life) of the Special SurrenderValue Booklet and will depend upon the
policy term and duration elapsed since thecommencement of the policy.
The discount factors shall be Specialsurrender value factors as provided in Table-1A and 2A(Whole life) of the SpecialSurrender Value Booklet and will dependupon the policy term and duration elapsedsince the commencement of the policy.
Surrender Value Payable Surrender Value payable
The Higher of Guaranteed Surrender Valueand Special Surrender Value shall be
payable.
The Higher of Guaranteed Surrender Valueand Special Surrender Value shall be
payable.
No change in SSV
Jeevan Anand Plan Surrender Value
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LICs New Bima Bachat Plan
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Bima Bachat Plan
Plan No. 175
New Bima Bachat plan
Plan No. 816
Maturity Benefit Maturity Benefit
Single Premium Paid along with
loyalty addition less extrapremiums ,if any .
Single Premium Paid along with loyalty addition
less Taxes and extra premiums ,if any
Death Claim Benefit Death Claim Benefit
Payment of Sum Assured First 5 years:
Sum Assured shall be payable.
After completion of 5 years:
Sum Assured and Loyalty Additions, if any
shall be payable .
LIC s New Bima Bachat Plan Benefits
Death Benefit
Modified
LICs New Bima Bachat Plan - Benefits
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Year->Term
SURVIVAL BENEFIT
(as a percentage of Sum Assured
)3RD 6 TH 9TH 12 TH 15th
9 15% 15% MAT XXX
12 15% 15% 15% MAT
15 15% 15% 15% 15% MAT
LIC s New Bima Bachat Plan Benefits
There is no change in the percentage of Survival Benefit payable under
Bima Bachat Plan 175 and New Bima Bachat Plan - 816
No Changein SB
LICs New Bima Bachat Plan
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Particulars
Description
Plan No 175Bima Bachat Plan No. 816New Bima Bachat
Age atentry
15 to 66 yearsirrespective of thepolicy term
Minimum Maximum
15 yearsTerm = 9 Term = 12 Term = 15
66 yrs 63 yrs 60 yrs
Age atMaturity
Maximum75 Years Maximum 75 Years
PolicyTerm 9 , 12 and 15 years 9 , 12 and 15 years
Basic SumAssured
Minimum 20000 andin multiple of Rs
5000 No upper limit
Minimum Maximum
Term = 9 Term = 12 Term = 15 Term = 9/12/15
35000 50000 70000No upper LimitSA shall be in
multiple ofRs.5000
Eligibility Conditions and Restrictions
Age at Entryand SA based onpolicy term
LICs New Bima Bachat Plan
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New Bima Bachat
Plan 816PolicyTerm Sum Assured Band
% ofTabular
Premium
9
years
Less than 75000 Nil
75000 to less than 150000 6%
150000 and above 8%
12years
Less than 100000 Nil
100000 and less than200000 4%
200000 and above 6%
15years
Less than 150000 Nil
150000 and less than300000 3%
300000 and above 5%
High Sum Assured Rebate
Bima Bachat Plan No. 175
PolicyTerm
Sum AssuredBand
% ofTabular
premium
Policy
term 9,12 and15 years
Less than50000 Nil
50000 and lessthan 100000 5%
100000 andless than200000
7%
200000 And above 8%
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LICs Ne Bima Bachat Plan Loan
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LICs Bima Bachat
Plan No 175
LICs Bima Bachat
Plan No. 816
Loan available after payment of first
premium.
Loan facility available after completion
of 1 policy year
Loan can be granted upto 90% of the
Special Surrender Value
Loan can be granted upto 60% of
Surrender Value.
LICs New Bima Bachat Plan - Loan
Loan ~Modified
LICs New Bima Bachat Plan
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Table No 175
Bima Bachat Plan
Table No 816
New Bima Bachat PlanService Tax was borne by thecorporation.
Service Tax shall be applicable at theprevailing rates and borne by thepolicyholder as per rules.
There shall be no change inthe following Items
Back Dating
Paid-up Value
Assignment/Nomination
LIC s New Bima Bachat Plan
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LICS NEW JEEVAN
NIDHIPLAN NO. 818
LICS NEW JEEVAN NIDHI HIGHLIGHTS
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LICS NEW JEEVAN NIDHI - HIGHLIGHTS
1. Life Protection ~Insurance Cover upto Date of Vesting
2. Pension ~Option To purchase an Immediate Annuity
orTo purchase New Single Premium DeferredPension Plan
3. Guaranteed Additions ~For the first 5 years @ Rs.50 Basic SumAssured
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1. Participation in Profits ~After 6th policyyear, benefit of Vested Bonus and FinalAdditional Bonus (if any).
2. Flexibility ~ Premium PaymentFrequency-Single Premium, Yly, Hly, Qly,Mly(ECS/SSS)
3. Customisation Option for Accident Benefit Rider underRegular Premium Policies only. Min SA ischanged from Rs 25000 to Rs 100,000
LICS NEW JEEVAN NIDHI
Eligibility Conditions and Restrictions
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Eligibility Conditions and RestrictionsDescription Minimum Maximum
Age at Entry 20 years 60 years under SP
20 years 58 years under RP
Age at Vesting 55 years 65 years
Deferment period 5 years for SP7 years for RP 35 years
Sum Assured
Single PremiumRs.150000/-
No LimitRegular Premium
Rs.100000/-The Sum Assured under Basic Plan shall be inmultiples of Rs.5000/
Premium Mode Single Premium, Yearly, Half-yearly, Quarterly,Monthly [ECS or SSS]
LICS NEW JEEVAN NIDHI BENEFITS
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LICS NEW JEEVAN NIDHI - BENEFITS
Benefit on Vesting
Basic Sum Assured+
Accrued Guaranteed Additions+
Vested Simple Reversionary Bonuses&Final Additional Bonus(if any)
Commute as per Income Taxrules and purchase ImmediateAnnuity with the balance amountat the then prevailing Immediateannuity rate
Purchase a new SinglePremium deferredpension product fromLIC
LICS NEW JEEVAN NIDHI BENEFITS
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LICS NEW JEEVAN NIDHI - BENEFITS
Basic Sum Assured+
Accrued GuaranteedAdditions
Basic Sum Assured+
Accrued Guaranteed Additions+
Vested Bonuses & FAB (if any)
First 5policy years
6th yearonwards
Death Benefit
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The death benefit as definedabove shall not be less than 105%of total premiums* paid as on thedate of death
The Benefit shall be paid to the nominee aslump sum ORIn the form of Annuity ORPartly in lump sum and balance in theform of Annuity at the then prevailingImmediate annuity rates
LICS NEW JEEVAN NIDHI BENEFITS
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LICS NEW JEEVAN NIDHI - BENEFITS
Guaranteed Additions :Payable for the first five years @ Rs.50/- per thousandBasic Sum Assured for each completed year.
Participation in profits :Simple Reversionary Bonus shall be added from the6th policy year onwards till the end of the defermentperiod and at such rates as may be declared by theCorporation.
Final Additional Bonus shall be payable either onvesting or on earlier death at the rates declared by theCorporation.
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WHY LICS NEW JEEVAN NIDHI !!!
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Jeevan Nidhi meets all your needs across thetime horizon-1. Life cover now and Pension afterwards!
2. Life Insurance cover till the date ofvesting-For the well-being of your lovedones!
3. And Annuity/Pension after vesting-Foryour well-being in later years!!!
WHY- LICS NEW JEEVAN NIDHI !!!
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