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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."

Illustration 1
 

Age at entry: 0 years
Premium Paying Term: 1 Year
Single Premium: Rs. 73,980/-
Policy Term: 26 years
Sum Assured: Rs. 1,00,000/-
 

Year
Total Premiums Paid Till End Of Year
Benefit on Death during the year (Rs.)
 
Guaranteed Variable Total
Scenario
1
Scenario
2
Scenario
1
Scenario
2
1 73980
 
73980 0
 
0
 
73980
 
73980
 
2 73980 73980 0
 
0
 
73980
 
73980
 
3 73980 73980 0
 
0
 
73980
 
73980
 
4 73980 73980 0
 
0
 
73980
 
73980
 
5 73980 73980 0
 
0
 
73980
 
73980
 
6 73980 73980 0
 
0
 
73980
 
73980
 
7 73980 145000
 
0
 
12000
 
145000
 
157000
 
8 73980 152500
 
0
 
16000
 
152500
 
168500
 
9 73980 160000
 
0
 
21000
 
160000
 
181000
 
10 73980 167500
 
0
 
26000
 
167500
 
193500
 
15 73980 205000 0
 
67000
 
205000 
 
272000
 
20 73980 242500
 
0
 
128000
 
242500
 
370500
 
26 73980
 
287500 0 277000 287500 564500
End of year Benefit on Survival / Maturity at the end of Year
Guaranteed Variable Total
Scenario
1
Scenario
2
Scenario
1
Scenario
2
18
20000 0 0 20000 20000
20
20000 0 0 20000 20000
22
30000 0 0 30000 30000
24
30000 0 0 30000 30000
26
195000 0 277000 195000 472000
Illustration 2
 

Age at entry: 0 years
Premium Paying Term: 18 Years Annual Premium: Rs. 7281/-
Policy Term: 26 Years
Sum Assured: Rs. 1,00,000 /-
 

Year
Total premiums paid till end of year
Benefit on Death during the year (Rs.)
 
Guaranteed Variable Total
Scenario 1 Scenario 2 Scenario 1 Scenario 2
1 7281
 
7281
 
0
 
0
 
7281
 
7281
 
2 14562
 
14562
 
0
 
0
 
14562
 
14562
 
3 21843
 
21843
 
0
 
0
 
21843
 
21843
 
4 29124
 
29124
 
0
 
0
 
29124
 
29124
 
5 36405
 
36405
 
0
 
0
 
36405
 
36405
 
6 43686
 
43686
 
0
 
0
 
43686
 
43686
 
7 50967
 
145000
 
0
 
3000
 
145000
 
148000
 
8 58248
 
152500
 
0
 
5000
 
152500
 
157500
 
9 65529
 
160000
 
0
 
8000
 
160000
 
168000
 
10 72810
 
167500
 
0
 
11000
 
167500
 
178500
 
15 109215
 
205000
 
0
 
43000
 
205000
 
248000
 
20 131058
 
227500
 
0
 
71000
 
227500
 
298500
 
26 131058
 
242500
 
0
 
91000
 
242500
 
333500
 
End of year Benefit on Survival / Maturity at the end of Year
Guaranteed Variable Total
Scenario
1
Scenario
2
Scenario
1
Scenario
2
18
20000 0 0 20000 20000
20
20000 0 0 20000 20000
22
30000 0 0 30000 30000
24
30000 0 0 30000 30000
26
195000 0 176000 195000 371000


(i) This 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.

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