|
Untitled Document
|
Jeevan Anand
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 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 at entry |
35 years |
| Sum Assured |
Rs.1,00,000/- |
| Premium Paying term |
25 years |
| Mode of premium payment |
Yearly |
| Annual Premium |
Rs. 4,535 /- |
End of
year |
Total
premiums paid till end of year |
Benefit payable
on death / maturity at the end of year |
Guaranteed
* |
Variable
|
Total |
Scenario
1 |
Scenario
2 |
Scenario
1 |
Scenario
2 |
1 |
4,535 |
100000 |
1500 |
5100 |
101500 |
101500 |
2 |
9,070 |
100000 |
3000 |
10200 |
103000 |
110200 |
3 |
13,605 |
100000 |
4500 |
15300 |
104500 |
115300 |
4 |
18,140 |
100000
|
6000 |
20400 |
106000 |
120400 |
5 |
22,675 |
100000 |
7500 |
25500 |
107500 |
125500 |
6 |
27,210 |
100000
|
9000 |
30600 |
109000 |
130600 |
7 |
31,745 |
100000
|
10500 |
35700 |
110500 |
135700 |
8 |
36,280 |
100000
|
12000 |
40800 |
112000 |
140800 |
9 |
40,815 |
100000
|
13500 |
45900 |
113500 |
145900 |
10 |
45,350 |
100000
|
15000 |
51000 |
115000 |
151000 |
15 |
68,025 |
100000
|
22500 |
76500 |
122500 |
176500 |
20 |
90,700 |
100000
|
33000
|
113000 |
133000
|
213000 |
25 |
1,13,375 |
100000
|
41500
|
141000 |
141500
|
241000 |
End of
year |
Total
premiums paid till end of year |
Benefit payable
on death / maturity at the end of year
|
Guaranteed
* |
Variable
|
Total |
Scenario
1 |
Scenario
2 |
Scenario
1 |
Scenario
2 |
26 |
1,13,375 |
100000 |
41500 |
141000 |
141500 |
241000 |
27 |
1,13,375
|
100000** |
- |
- |
100000**
|
100000** |
* In addition to the benefits given in the column, an Accident Benefit
of Rs. 1,00,000 /- will also be available without payment of extra
premium in case of death/disability due to accident
** Benefit payable on death after the selected term. If the
death occurs due to accident up to age 70 an additional Rs. 1,00,000/-
will also be paid.
-
The above illustration is
applicable to a non-smoker male/female standard (from medical,
life style and occupation point of view) life.
-
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.
-
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.
- Future bonus will depend on future profits and as such is not
guaranteed. However, once bonus is declared in any year and added
to the policy, the bonus so added is guaranteed.
|
|
