Child Career Plan
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.”
Benefit Illustration1
| Age of LA (Yrs.) |
0 |
| Term(Yrs.) |
25 |
| Age At Maturity (Yrs.) |
25 |
| PPT(Yrs.) |
6 |
| Sum Assured(Rs.) |
100000 |
| Premium |
10128 |
| Extd Term(Yrs.) |
7 |
End of Year |
Total Premiums Paid |
Benefit
on Death During the Year |
|
Guaranteed |
Variable |
Total |
SCENARIO
1 |
SCENARIO
2 |
SCENARIO
1 |
SCENARIO
2 |
1 |
10128 |
10432 |
0 |
0 |
10432 |
10432 |
2 |
20256 |
21177 |
0 |
0 |
21177 |
21177 |
3 |
30384 |
32244 |
0 |
0 |
32244 |
32244 |
4 |
40512 |
43643 |
0 |
0 |
43643 |
43643 |
5 |
50640 |
55384 |
0 |
0 |
55384 |
55384 |
6 |
60768 |
100000 |
13200 |
45000 |
113200 |
145000 |
7 |
60768 |
100000 |
15400 |
52500 |
115400 |
152500 |
8 |
60768 |
100000 |
17600 |
60000 |
117600 |
160000 |
9 |
60768 |
100000 |
19800 |
67500 |
119800 |
167500 |
10 |
60768 |
100000 |
22000 |
75000 |
122000 |
175000 |
11 |
60768 |
100000 |
24200 |
82500 |
124200 |
182500 |
12 |
60768 |
100000 |
26400 |
90000 |
126400 |
190000 |
13 |
60768 |
100000 |
28600 |
97500 |
128600 |
197500 |
14 |
60768 |
100000 |
30800 |
105000 |
130800 |
205000 |
15 |
60768 |
100000 |
42000 |
150000 |
142000 |
250000 |
16 |
60768 |
100000 |
44800 |
160000 |
144800 |
260000 |
17 |
60768 |
100000 |
47600 |
170000 |
147600 |
270000 |
18 |
60768 |
100000 |
50400 |
180000 |
150400 |
280000 |
19 |
60768 |
100000 |
53200 |
190000 |
153200 |
290000 |
20 |
60768 |
100000 |
56000 |
200000 |
156000 |
300000 |
21 |
60768 |
100000 |
12600 |
52500 |
112600 |
152500 |
22 |
60768 |
100000 |
13200 |
55000 |
113200 |
155000 |
23 |
60768 |
100000 |
13800 |
57500 |
113800 |
157500 |
24 |
60768 |
100000 |
14400 |
60000 |
114400 |
160000 |
25 |
60768 |
100000 |
15000 |
62500 |
115000 |
162500 |
26 |
- |
100000 |
0 |
0 |
100000 |
100000 |
27 |
- |
100000 |
0 |
0 |
100000 |
100000 |
28 |
- |
100000 |
0 |
0 |
100000 |
100000 |
29 |
- |
100000 |
0 |
0 |
100000 |
100000 |
30 |
- |
100000 |
0 |
0 |
100000 |
100000 |
31 |
- |
100000 |
0 |
0 |
100000 |
100000 |
32 |
- |
100000 |
0 |
0 |
100000 |
100000 |
Benefit Illustration 2
| Age of LA (Yrs.) |
0 |
| Term(Yrs.) |
25 |
| Age At Maturity (Yrs.) |
25 |
| PPT(Yrs.) |
6 |
| Sum Assured(Rs.) |
100000 |
| Premium |
10128 |
| Extd Term(Yrs.) |
7 |
End of Year |
Total Premiums Paid |
Benefit
on Death During the Year |
|
Guaranteed |
Variable |
Total |
SCENARIO
1 |
SCENARIO
2 |
SCENARIO
1 |
SCENARIO
2 |
1 |
10128 |
0 |
0 |
0 |
0 |
0 |
2 |
20256 |
0 |
0 |
0 |
0 |
0 |
3 |
30384 |
0 |
0 |
0 |
0 |
0 |
4 |
40512 |
0 |
0 |
0 |
0 |
0 |
5 |
50640 |
0 |
0 |
0 |
0 |
0 |
6 |
60768 |
0 |
0 |
0 |
0 |
0 |
7 |
60768 |
0 |
0 |
0 |
0 |
0 |
8 |
60768 |
0 |
0 |
0 |
0 |
0 |
9 |
60768 |
0 |
0 |
0 |
0 |
0 |
10 |
60768 |
0 |
0 |
0 |
0 |
0 |
11 |
60768 |
0 |
0 |
0 |
0 |
0 |
12 |
60768 |
0 |
0 |
0 |
0 |
0 |
13 |
60768 |
0 |
0 |
0 |
0 |
0 |
14 |
60768 |
0 |
0 |
0 |
0 |
0 |
15 |
60768 |
0 |
0 |
0 |
0 |
0 |
16 |
60768 |
0 |
0 |
0 |
0 |
0 |
17 |
60768 |
0 |
0 |
0 |
0 |
0 |
18 |
60768 |
0 |
0 |
0 |
0 |
0 |
19 |
60768 |
0 |
0 |
0 |
0 |
0 |
20 |
60768 |
30000 |
44000 |
150000 |
74000 |
180000 |
21 |
60768 |
15000 |
0 |
0 |
15000 |
15000 |
22 |
60768 |
15000 |
0 |
0 |
15000 |
15000 |
23 |
60768 |
15000 |
0 |
0 |
15000 |
15000 |
24 |
60768 |
15000 |
0 |
0 |
15000 |
15000 |
25 |
60768 |
15000 |
15000 |
62500 |
30000 |
77500 |
Benefit Illustration3
| Age of LA (Yrs.) |
0 |
| Term(Yrs.) |
25 |
| Age At Maturity (Yrs.) |
25 |
| PPT(Yrs.) |
20 |
| Sum Assured(Rs.) |
100000 |
| Premium |
4513 |
| Extd Term(Yrs.) |
7 |
End of Year |
Total Premiums Paid |
Benefit
on Death During the Year |
|
Guaranteed |
Variable |
Total |
SCENARIO
1 |
SCENARIO
2 |
SCENARIO
1 |
SCENARIO
2 |
1 |
4513 |
4648 |
0 |
0 |
4648 |
4648 |
2 |
9026 |
9436 |
0 |
0 |
9436 |
9436 |
3 |
13539 |
14368 |
0 |
0 |
14368 |
14368 |
4 |
18052 |
19447 |
0 |
0 |
19447 |
19447 |
5 |
22565 |
24679 |
0 |
0 |
24679 |
24679 |
6 |
27078 |
100000 |
12000 |
33000 |
112000 |
133000 |
7 |
31591 |
100000 |
14000 |
38500 |
114000 |
138500 |
8 |
36104 |
100000 |
16000 |
44000 |
116000 |
144000 |
9 |
40617 |
100000 |
18000 |
49500 |
118000 |
149500 |
10 |
45130 |
100000 |
20000 |
55000 |
120000 |
155000 |
11 |
49643 |
100000 |
22000 |
60500 |
122000 |
160500 |
12 |
54156 |
100000 |
24000 |
66000 |
124000 |
166000 |
13 |
58669 |
100000 |
26000 |
71500 |
126000 |
171500 |
14 |
63182 |
100000 |
28000 |
77000 |
128000 |
177000 |
15 |
67695 |
100000 |
39000 |
105000 |
139000 |
205000 |
16 |
72208 |
100000 |
41600 |
112000 |
141600 |
212000 |
17 |
76721 |
100000 |
44200 |
119000 |
144200 |
219000 |
18 |
81234 |
100000 |
46800 |
126000 |
146800 |
226000 |
19 |
85747 |
100000 |
49400 |
133000 |
149400 |
233000 |
20 |
90260 |
100000 |
52000 |
140000 |
152000 |
240000 |
21 |
90260 |
100000 |
12600 |
31500 |
112600 |
131500 |
22 |
90260 |
100000 |
13200 |
33000 |
113200 |
133000 |
23 |
90260 |
100000 |
13800 |
34500 |
113800 |
134500 |
24 |
90260 |
100000 |
14400 |
36000 |
114400 |
136000 |
25 |
90260 |
100000 |
15000 |
37500 |
115000 |
137500 |
26 |
- |
100000 |
0 |
0 |
100000 |
100000 |
27 |
- |
100000 |
0 |
0 |
100000 |
100000 |
28 |
- |
100000 |
0 |
0 |
100000 |
100000 |
29 |
- |
100000 |
0 |
0 |
100000 |
100000 |
30 |
- |
100000 |
0 |
0 |
100000 |
100000 |
31 |
- |
100000 |
0 |
0 |
100000 |
100000 |
32 |
- |
100000 |
0 |
0 |
100000 |
100000 |
Benefit Illustration: 4
| Age of LA (Yrs.) |
0 |
| Term(Yrs.) |
25 |
| Age At Maturity (Yrs.) |
25 |
| PPT(Yrs.) |
20 |
| Sum Assured(Rs.) |
100000 |
| Premium |
4513 |
| Extd Term(Yrs.) |
7 |
End of Year |
Total Premiums Paid |
Benefit
on Death During the Year |
|
Guaranteed |
Variable |
Total |
SCENARIO
1 |
SCENARIO
2 |
SCENARIO
1 |
SCENARIO
2 |
1 |
4513 |
0 |
0 |
0 |
0 |
0 |
2 |
9026 |
0 |
0 |
0 |
0 |
0 |
3 |
13539 |
0 |
0 |
0 |
0 |
0 |
4 |
18052 |
0 |
0 |
0 |
0 |
0 |
5 |
22565 |
0 |
0 |
0 |
0 |
0 |
6 |
27078 |
0 |
0 |
0 |
0 |
0 |
7 |
31591 |
0 |
0 |
0 |
0 |
0 |
8 |
36104 |
0 |
0 |
0 |
0 |
0 |
9 |
40617 |
0 |
0 |
0 |
0 |
0 |
10 |
45130 |
0 |
0 |
0 |
0 |
0 |
11 |
49643 |
0 |
0 |
0 |
0 |
0 |
12 |
54156 |
0 |
0 |
0 |
0 |
0 |
13 |
58669 |
0 |
0 |
0 |
0 |
0 |
14 |
63182 |
0 |
0 |
0 |
0 |
0 |
15 |
67695 |
0 |
0 |
0 |
0 |
0 |
16 |
72208 |
0 |
0 |
0 |
0 |
0 |
17 |
76721 |
0 |
0 |
0 |
0 |
0 |
18 |
81234 |
0 |
0 |
0 |
0 |
0 |
19 |
85747 |
0 |
0 |
0 |
0 |
0 |
20 |
90260 |
30000 |
40000 |
110000 |
70000 |
140000 |
21 |
90260 |
15000 |
0 |
0 |
15000 |
15000 |
22 |
90260 |
15000 |
0 |
0 |
15000 |
15000 |
23 |
90260 |
15000 |
0 |
0 |
15000 |
15000 |
24 |
90260 |
15000 |
0 |
0 |
15000 |
15000 |
25 |
90260 |
15000 |
15000 |
37500 |
30000 |
52500 |
Notes:
(i) This illustration is applicable to a 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.
EXTRACT from Section 41 of the Insurance Act:
No person shall allow or offer to allow, either directly
or indirectly, as an inducement to any person to take out or renew
or continue an insurance in respect of any kind of risk relating
to lives or property in India, any rebate of the whole or part
of the commission payable or any rebate of the premium shown on
the policy, nor shall any person taking out or renewing or continuing
a policy accept any rebate, except such rebate as may be allowed
in accordance with the published prospectuses or tables of the
insurer : provided that acceptance by an insurance agent of commission
in connection with a policy of life insurance taken out by himself
on his own life shall not be deemed to be acceptance of a rebate
of premium within the meaning of this sub-section if at the time
of such acceptance the insurance agent satisfies the prescribed
conditions establishing that he is a bonafide insurance agent
employed by the insurer.
Any person making default in complying with the provisions of
this Section shall be punishable with a fine which may extend
to Rs.500 / -
Note: “Conditions apply” for which
please refer to the Policy document or contact our nearest Branch
Office.
