Jeevan Bharathi
Benefit Illstration
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.”
| Age at entry |
25 years |
| Policy Term |
20 years |
| Sum Assured |
Rs.1 Lakh |
| Annual Premium |
Rs.7,345/- up to age 41 years next birthday and Rs.7,085/-
thereafter. |
Year |
Total
premiums paid till end of year |
Death
Benefit during the year |
Guaranteed |
Variable
|
Total |
Scenario
1 |
Scenario
2 |
Scenario
1 |
Scenario
2 |
1 |
7,345 |
1,00,000 |
0 |
0 |
1,00,000
|
1,00,000 |
2 |
14,690 |
1,05,000 |
0 |
0 |
1,05,000
|
1,05,000 |
3 |
22,035 |
1,10,000
|
0 |
0 |
1,10,000
|
1,10,000 |
4 |
29,380
|
1,15,000
|
0 |
0 |
1,15,000
|
1,15,000 |
5 |
36,725
|
1,20,000
|
0 |
0 |
1,20,000
|
1,20,000 |
6 |
44,070
|
1,25,000
|
2,500
|
6,100
|
1,27,500
|
1,31,100 |
7 |
51,415
|
1,25,000
|
5,000
|
12,200
|
1,30,000
|
1,37,200 |
8 |
58,760
|
1,25,000
|
7,500
|
18,300
|
1,32,500
|
1,43,300 |
9 |
66,105
|
1,25,000 |
10,000
|
24,400 |
1,35,000 |
1,49,400 |
10 |
73,450 |
1,25,000 |
12,500 |
30,500 |
1,37,500 |
1,55,500 |
15 |
1,10,175
|
1,25,000
|
25,000 |
61,000
|
1,50,000 |
1,86,000 |
20 |
1,45,860
|
1,25,000
|
53,500
|
1,31,500
|
1,78,500
|
2,56,500 |
Year |
Total
premiums paid till end of year |
Death
Benefit during the year |
Guaranteed |
Variable
|
Total |
Scenario
1 |
Scenario
2 |
Scenario
1 |
Scenario
2 |
1 |
7,345
|
0 |
0 |
0 |
0 |
0 |
2 |
14,690
|
0 |
0 |
0 |
0 |
0 |
3 |
22,035 |
0 |
0 |
0 |
0 |
0 |
4 |
29,380
|
0 |
0 |
0 |
0 |
0 |
5 |
36,725
|
20,000 |
0 |
0 |
20,000
|
20,000 |
6 |
44,070 |
0 |
0 |
0 |
0 |
0 |
7 |
51,415
|
0 |
0 |
0 |
0 |
0 |
8 |
58,760
|
0 |
0 |
0 |
0 |
0 |
9 |
66,105
|
0 |
0 |
0 |
0 |
0 |
10 |
73,450
|
20,000
|
0 |
0 |
20,000
|
20,000 |
15 |
1,10,175
|
20,000 |
0 |
0 |
20,000
|
20,000
|
20 |
1,45,860
|
65,000
|
53,500 |
53,500
|
1,18,500
|
1,96,500 |
Note: In addition to the death and survival benefits
as given above, the following benefits are also available.
-
Female Critical illness Benefit:
Rs.1 Lakh (guaranteed) on affliction of any of the specified
critical illnesses.
-
Congenital Disability Benefit:
Rs.50,000/- (guaranteed) on the birth during the policy term
of a child with any of the specified congenital disabilities.
The benefit will be available for maximum two such children
born up to age 41 years next birthday of the life assured.
(i) The above
illustration is applicable to a non-smoker male/female 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.
(iv) 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.
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