Javascript is not currently enabled in your browser.
You must enable Javascript to run this web page correctly.

Home » Products » Withdrawn Plans » Jeevan Ankur » Benefit Illustration
Benefit Illustration

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."

Benefit Illustration
UIN: 512N267V01
LIC's Jeevan Ankur


Illustration 1

Age at entry: 35 years
Policy term: 25 years
Mode of premium payment: Yearly
Amount of annual premium: Rs.3587/- *
Sum Assured : Rs. 100,000 /-

End of Year Total Premiums Paid Till End Of Year Amount Payable on Death during the Year ** Amount payable on Maturity at the end of year
 
Guaranteed Variable Total
Scenario
1
Scenario
2
Scenario
1
Scenario
2
1 3587
 
100000
 
0
 
0
 
0
 
0
 
0
2 7174 100000 0
 
0
 
0
 
0
 
0
 
3 10761 100000 0
 
0
 
0
 
0
 
0
 
4 14348 100000 0
 
0
 
0
 
0
 
0
 
5 17935 100000 0
 
0
 
0
 
0
 
0
 
6 21522 100000 0
 
0
 
0
 
0
 
0
 
7 25109 100000 0
 
0
 
0
 
0
 
0
 
8 28696 100000
 
0
 
0
 
0
 
0
 
0
 
9 32283 100000
 
0
 
0
 
0
 
0
 
0
 
10 35870 100000
 
0
 
0
 
0
 
0
 
0
 
11 39457 100000 0
 
0
 
0
 
0
 
0
 
12 43044 100000 0 0
 
0
 
0
 
0
 
13 46631 100000
 
0 0 0 0 0
14 50218 100000
 
0 0 0 0 0
15 53805 100000
 
0 0 0 0 0
16 57392 100000
 
0 0 0 0 0
17 60979 100000
 
0 0 0 0 0
18 64566 100000
 
0 0 0 0 0
19 68153 100000
 
0 0 0 0 0
20 71740 100000
 
0 0 0 0 0
21 75327 100000
 
0 0 0 0 0
22 78914 100000
 
0 0 0 0 0
23 82501 100000
 
0 0 0 0 0
24 86088 100000
 
0 0 0 0 0
25 89675 100000
 
100000 7500 94000 107500 194000


* Note:- The annual premium shown above is exclusive of Service Tax.
** In addition to Basic Sum Assured an amount equal to 10% of the Basic Sum Assured (referred to as “Income Benefit”) shall be payable on each policy anniversary, from the policy anniversary coinciding with or next following the date of death of Life Assured, till the end of policy term to the nominee.


Illustration 2
Age at entry: 35 years
Policy term: 10 years
Mode of premium payment: Yearly
Amount of annual premium: Rs.9055/- *
Sum Assured: Rs. 100,000/-

 

End of Year Total Premiums Paid Till End Of Year Amount Payable on Death during the Year ** Amount payable on Maturity at the end of year
 
Guaranteed Variable Total
Scenario
1
Scenario
2
Scenario
1
Scenario
2
1 9055 100000
 
0
 
0
 
0
 
0
 
0
2 18110 100000 0
 
0
 
0
 
0
 
0
 
3 27165 100000 0
 
0
 
0
 
0
 
0
 
4 36220 100000 0
 
0
 
0
 
0
 
0
 
5 45275 100000 0
 
0
 
0
 
0
 
0
 
6 54330 100000 0
 
0
 
0
 
0
 
0
 
7 63385 100000 0
 
0
 
0
 
0
 
0
 
8 72440 100000
 
0
 
0
 
0
 
0
 
0
 
9 81495 100000
 
0
 
0
 
0
 
0
 
0
 
10 90550 100000
 
100000
 
0
 
20000
 
100000
 
120000
 


* Note:- The annual premium shown above is exclusive of Service Tax.
** In addition to Basic Sum Assured an amount equal to 10% of the Basic Sum Assured (referred to as “Income Benefit”) shall be payable on each policy anniversary, from the policy anniversary coinciding with or next following the date of death of Life Assured, till the end of policy term to the nominee.


 

Illustration 3
Age at entry: 35 years
Policy term: 25 years
Mode of premium payment: Single
Amount of annual premium: Rs.40900/- *
Sum Assured : Rs. 100,000 /-

 

End of Year Total Premiums Paid Till End Of Year Amount Payable on Death during the Year ** Amount payable on Maturity at the end of year
 
Guaranteed Variable Total
Scenario
1
Scenario
2
Scenario
1
Scenario
2
1 40900
 
100000
 
0
 
0
 
0
 
0
 
0
2 40900 100000 0
 
0
 
0
 
0
 
0
 
3 40900 100000 0
 
0
 
0
 
0
 
0
 
4 40900 100000 0
 
0
 
0
 
0
 
0
 
5 40900 100000 0
 
0
 
0
 
0
 
0
 
6 40900 100000 0
 
0
 
0
 
0
 
0
 
7 40900 100000 0
 
0
 
0
 
0
 
0
 
8 40900 100000
 
0
 
0
 
0
 
0
 
0
 
9 40900 100000
 
0
 
0
 
0
 
0
 
0
 
10 40900 100000
 
0
 
0
 
0
 
0
 
0
 
11 40900 100000 0
 
0
 
0
 
0
 
0
 
12 40900 100000 0 0
 
0
 
0
 
0
 
13 40900 100000
 
0 0 0 0 0
14 40900 100000
 
0 0 0 0 0
15 40900 100000
 
0 0 0 0 0
16 40900 100000
 
0 0 0 0 0
17 40900 100000
 
0 0 0 0 0
18 40900 100000
 
0 0 0 0 0
19 40900 100000
 
0 0 0 0 0
20 40900 100000
 
0 0 0 0 0
21 40900 100000
 
0 0 0 0 0
22 40900 100000
 
0 0 0 0 0
23 40900 100000
 
0 0 0 0 0
24 40900 100000
 
0 0 0 0 0
25 40900 100000
 
100000   180000 109000 280000


* Note:- The single premium shown above is exclusive of Service Tax.
** In addition to Basic Sum Assured an amount equal to 10% of the Basic Sum Assured (referred to as “Income Benefit”) shall be payable on each policy anniversary, from the policy anniversary coinciding with or next following the date of death of Life Assured, till the end of policy term to the nominee.

 

Illustration 4
Age at entry: 35 years
Policy term: 10 years
Mode of premium payment: Single
Amount of annual premium: Rs.62565/- *
Sum Assured: Rs. 100,000/-

 

End of Year Total Premiums Paid Till End Of Year Amount Payable on Death during the Year ** Amount payable on Maturity at the end of year
 
Guaranteed Variable Total
Scenario
1
Scenario
2
Scenario
1
Scenario
2
1 62565 100000
 
0
 
0
 
0
 
0
 
0
2 62565 100000 0
 
0
 
0
 
0
 
0
 
3 62565 100000 0
 
0
 
0
 
0
 
0
 
4 62565 100000 0
 
0
 
0
 
0
 
0
 
5 62565 100000 0
 
0
 
0
 
0
 
0
 
6 62565 100000 0
 
0
 
0
 
0
 
0
 
7 62565 100000 0
 
0
 
0
 
0
 
0
 
8 62565 100000
 
0
 
0
 
0
 
0
 
0
 
9 62565 100000
 
0
 
0
 
0
 
0
 
0
 
10 62565 100000
 
100000
 
0
 
36000
 
100000
 
136000
 


* Note:- The single premium shown above is exclusive of Service Tax.
** In addition to Basic Sum Assured an amount equal to 10% of the Basic Sum Assured (referred to as “Income Benefit”) shall be payable on each policy anniversary, from the policy anniversary coinciding with or next following the date of death of Life Assured, till the end of policy term to the nominee.

 
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 LIC 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.


SECTION 45 OF INSURANCE ACT, 1938:

No policy of life insurance shall after the expiry of two years from the date on which it was effected, be called in question by an insurer on the ground that a statement made in the proposal for insurance or in any report of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the policy, was inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the policyholder and that the policyholder knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose.
Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof that the age of the life assured was incorrectly stated in the proposal.

Prohibition of Rebates  (Section 41 of Insurance Act, 1938) :

(1)  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 bona fide insurance agent employed by the insurer.
(2)  Any person making default in complying with the provisions of this section shall be punishable with fine which may extend to five hundred rupees.
Note: “Conditions apply” for which please refer to the Policy document or contact our nearest Branch Office.
 

Life Insurance Corporation of India – Corporate Office : Yogakshema Building, Jeevan Bima Marg, P.O. Box No – 19953, Mumbai – 400 021 IRDAI Reg No- 512
Top