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Untitled Document
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Jeevan Aadhar
Benefit Illustration
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 1
| Age ate entry |
35 years |
| Age of dependant |
5 years |
| Premium paying term |
15 years |
| Sum Asured |
Rs. 1,00,000/- |
| Annual premium |
Rs. 4095/- |
Year |
Premium
Paid (Rs.) |
Benefit on death
of life assured payable at the end of year (Rs.) |
Guaranteed |
Variable
|
Total |
Scenario
1 |
Scenario
2 |
Scenario
1 |
Scenario
2 |
1 |
4095 |
100000 |
0 |
0 |
100000 |
100000 |
2 |
8190 |
110000 |
0 |
0 |
110000 |
110000 |
3 |
12285 |
120000 |
0 |
0 |
120000 |
120000 |
4 |
16380 |
130000 |
0 |
0 |
130000 |
130000 |
5 |
20475 |
140000 |
0 |
0 |
140000 |
140000 |
6 |
24570 |
150000 |
0 |
0 |
150000 |
150000 |
7 |
28665 |
160000 |
0 |
0 |
160000 |
160000 |
8 |
32760 |
170000 |
0 |
0 |
170000 |
170000 |
9 |
36855 |
180000 |
0 |
0 |
180000 |
180000 |
10 |
40950 |
190000 |
0 |
0 |
190000 |
190000 |
15 |
61425 |
240000 |
0 |
0 |
240000 |
240000 |
20 |
61425 |
290000 |
0 |
1000 |
290000 |
291000 |
30 |
61425 |
390000 |
0 |
33000 |
390000 |
423000 |
40 |
61425 |
400000 |
0 |
140000 |
400000 |
540000 |
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* 20% of the amount shall be paid in lump sum and
the balance of 80% shall be utilised to pay an annuity on the life of
handicapped dependant. For example, if the life assured dies during
15th year, then Rs.48,000/- will be paid in a lump sum and Rs.17,530/-
will be paid as yearly annuity for 15 years certain and thereafter so
long the handicapped dependant survives.
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This illustration is applicable
to a non-smoker male/female standard (from medical, life style and
occupation point of view) life.
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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.
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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.
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