lic policy term plan,life insurance term plan lic,term insurance plans,lic mediclaim,term plans in lic,term plan lic,lic term plan,term life insurance companies,best insurance plan,best life insurance policy india,best life insurance policy in india,which life insurance policy is best in india,which is the best life insurance policy in india,which is best life insurance policy in india,what is the best life insurance policy in india,what is term insurance policy of lic,term insurance policy of lic,quote term life,term life quote,term insurance india,lic term policies,lic term life insurance,term life insurance lic,best insurance policy,best lic policy plan,investment plans in lic,life insurance and term,lic saving plans,term policy of lic,term policy in lic,term policy lic,lic term policy,which life insurance is best in india,best life insurance india,term policy india,best life insurance in india,life insurance india gen,life ins companies,liclifeinsurance,best lic insurance policy in india,lic saving plan,insurance policies india,lic india best policies,new lic policy plans,lic savings plan,best lic insurance plan,best lic policy for investment,best insurance plan of lic,best insurance plan in lic,lic policies plans,life insurance policy companies,best lic policy plans,what is a good life insurance plan,good lic plans,new lic policy scheme,low cost life insurance,best policy in lic of india,best lic policy in india,best lic policy india,best policy of lic of india,best lic insurance policy,best insurance policy of lic,best policy in lic insurance,best insurance policy in lic,lic best insurance policy,lic new insurance plan,lic life insurance policy plans,what is the best lic policy,lic policy best,best lic policy,best lic life insurance policy,best life insurance policy in lic,best life insurance policy of lic,life insurance of india policies,life insurance policies in india,top 3 life insurance companies,lic life insurance plans india,life insurance policy plans,best lic policy scheme,lic policy plans,investment in lic policy,investment insurance plans,lic of india plans,insurance policy plans,good life insurance policy,best lic plans,medical policy lic,lic life insurence,hdfcstandard life insurance,life insurances policies,lic of india insurance policies,lic policies india,lic india policies,life insurances in india,scheme of lic,best lic policy for men,life insurance scheme,Delhi, Paschim Vihar Delhi, LIC Jeevan Shree
2. Create a large capital at a low cost.Create a large capital at a low cost.
Exclusive policy for people with anExclusive policy for people with an
exclusive life styleexclusive life style
Flexibility of premium payments –Flexibility of premium payments –
premium payment liability can bepremium payment liability can be
fulfilled in a shorter period.fulfilled in a shorter period.
Features Benefits IllustrationsIntro
3. Guaranteed Additions during the first 5Guaranteed Additions during the first 5
years and participating in profitsyears and participating in profits
thereafter.thereafter.
High Liquidity : Special Surrender valueHigh Liquidity : Special Surrender value
can be available after 1 year subject tocan be available after 1 year subject to
conditions. Loan available on paymentconditions. Loan available on payment
of premiums for at least 1/10th of theof premiums for at least 1/10th of the
PPT.PPT.
Intro Features Benefits Illustrations
4. Accident cover and term rider benefitsAccident cover and term rider benefits
continue even after premium is fullycontinue even after premium is fully
paid up.paid up.
Option to choose premium paymentOption to choose premium payment
terms to suit your convenience.terms to suit your convenience.
Bonus continues to accrue even afterBonus continues to accrue even after
premium is fully paidpremium is fully paid..
Ideal plan for Key Man InsuranceIdeal plan for Key Man Insurance..
Intro Features Benefits Illustrations
5. Features Benefits IllustrationsIntro
Who can avail of this plan?
Those aged between 18 years (last birthday) and
65 years (near birthday)
• For how many years will risk be covered?
Policyholder can choose one of the following ‘
policy terms : 5,10,15,20 or 25 years.
For how many years is premium payable?
Policyholder can choose one of the following
premium terms: Single,2,3,4,6,8,10,12,16 years.
6. Features Benefits IllustrationsIntro
For what sums is the policy available?
Minimum Sum Assured is Rs. 5 lakhs; and in
multiples of Rs. 1 lakh thereafter.
Maximum Sum Assured depends upon income
Maximum Maturity age?
Maximum maturity age is 75 years.
Is Loan available under this plan?
Yes, loan is available under this plan.
Is term rider available?
Yes, term rider is available up to Rs. 25 lakhs.
7. Features Benefits IllustrationsIntro
Term Assurance RiderTerm Assurance Rider
Term Assurance as optional rider will be
available under this plan.
Premiums for this option are payable during
the premium paying term and an amount equal
to Term Assurance Sum Assured will be payable
on death during the policy term.
The premium for this option will be payable in
addition to the premium under the basic
9. Features Benefits IllustrationsIntro
On survival upto maturity, an amount
equal to the Sum Assured plusplus
vested guaranteed additions of Rs. 50 per
thousand sum assured plusplus reversionary
bonuses, as declared from 6th
year
onwards, shall be paid.
• Participation in profits:
The policy shall participate in surplus from
6th year onwards & entitled for Bonuses
declared as per the experience of LICI.
10. Features Benefits IllustrationsIntro
On death during the first 5 policy years -
An amount equal to the sum assured plusplus
vested guaranteed additions of Rs. 50 per
thousand sum assured shall be paid..
On death after first 5 policy years –
An amount equal to the Sum Assured plusplus
vested guaranteed additions of Rs. 50 per
thousand sum assured plusplus reversionary
bonuses, as declared from 6th
year
onwards shall be paid.
11. End of
year
Total Premium paid
till end of year
Death Benefit / Maturity Benefit (Rs.) payable at end of year
Guaranteed
Variable Total
Scenario 1 Scenario 2 Scenario 1 Scenario 2
1 25186 500000 0 0 500000 500000
2 50372 525000 0 0 525000 525000
3 75558 550000 0 0 550000 550000
4 100744 575000 0 0 575000 575000
5 125930 600000 0 0 600000 600000
6 151116 625000 9500 36500 634500 661500
7 176302 625000 19000 73000 644000 698000
8 201488 625000 28500 109500 653500 734500
9 226674 625000 38000 146000 663000 771000
10 251860 625000 47500 182500 672500 807500
15 377790 625000 95000 365000 720000 990000
16 402976 625000 104500 401500 729500 1026500
20 402976 625000 189500 729500 814500 1354500
25 402976 625000 253000 973000 878000 1598000
Age at Entry : 35 years, Sum Assured : Rs. 5 lakhs Yearly Premium Rs. 25,188
Policy Term : 25 years Premium Term : 16 years
Intro Features Benefits Illustrations
12. This 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.
Intro Features Benefits Illustrations
13. Intro Features Benefits Illustrations
Is term rider available under the plan ?
Yes, as an optional rider. An additional premium for this option shall be
payable in addition to the premium under the basic plan during the
premium paying term and an amount equal to Term Assurance Sum
Assured will be payable on death during the policy term.
Is accident benefit available under the plan?
Accident benefit will be available under the plan upto a maximum of
Rs.25 lakh (under all policies taken together) subject to the payment of
additional premium. An additional amount equal to the Accident Benefit
Sum Assured is payable on death. This benefit will be available for the
full term of the policy or till the policy anniversary immediately
following the Life Assured attaining 70 years of age.
Can a policy under the plan be dated back?
The policies can be dated back within the financial year. Back-dating
interest is charged at the rate of 10.5% p.a. for dating back in excess of
one month.
14. Intro Features Benefits Illustrations
If policy is lapsed can it be revived?
The policyholder can revive his lapsed policy by paying arrears of
premium together with interest to be decided by the Corporation
from time to time, subject to satisfactory evidence of health.
The present rate of interest is 9% p.a. payable half-yearly.
Is loan available under the policy ?
Loan is permissible subject to usual terms and conditions. The
rate of interest on loan shall be charged at the rate of 10.5% p.a.
payable half-yearly. The rate of interest is subject to revision.
If I am not able to continue my policy do I lose the premium paid?
No, the policy acquires paid-up value after at least one full year’s
premium has been paid where premium paying term upto 10
years. For premium paying terms of more than 10 years, policy
acquires paid-up value after 2 full years’ premiums are paid.
15. Intro Features Benefits Illustrations
If the plan is availed under Keyman Insurance, is the policy
transferable ?
Where a policy under this plan has been taken by an employer
for a keyman employee and such keyman leave the services
and joins another employer, the policy may be transferred in
favour of the new employer subject to fulfillment of the
following conditions :-
The old employer requests for the transfer and is prepared to
execute an assignment in favour of the new employer, the
life assured employee is the keyman of the new employer, and
the policy is in full force.
The terms of transfer may be decided by both the employers
mutually. Needless to add that such transfer will be subject
to the approval from LIC