Home » Products » Withdrawn Plans » jeevan Amrit » Benefit Illustration
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." 


Illustration 1: 
Age at entry: 35 years 
Policy Term: 25 years 
Sum Assured: Rs.1,00,000/- 
Premium paying term: 3 years 
Mode of premium payment: Yearly 
First year premium : Rs.7,149 /- 
Annual premium for subsequent years: Rs.3, 577/- 

 

End Of Year Total Premiums Paid Till End Of Year Benefit Payable On Death during the year
Guaranteed Variable Total
Scenario 1 Scenario 2 Scenario 1 Scenario 2
1 7,149 100000 157 894 100157 100894
2 10,726 100000 393 2234 100393 102234
3 14,303 100000 708 4022 100708 104022
4 14,303 100000 1023 5810 101023 105810
5 14,303 100000 1337 7598 101337 107598
6 14,303 100000 1652 9386 101652 109386
7 14,303 100000 1967 11174 101967 111174
8 14,303 100000 2281 12962 102281 112962
9 14,303 100000 2596 14750 102596 114750
10 14,303 100000 2911 16538 102911 116538
15 14,303 100000 5128 28481 105128 128481
20 14,303 100000 6915 38421 106915 138421
25 14,303 100000 8703 48362 108703 148362
End Of Year Total Premiums Paid Till End Of Year Benefit Payable On Death during the year
Guaranteed Variable Total
Scenario 1 Scenario 2 Scenario 1 Scenario 2
25 14,303 14,303 8703 48362 23006 62665


Illustration 2: 
Age at entry: 35 years 
Policy Term: 25 years 
Sum Assured: Rs.1,00,000/- 
Premium paying term: 5 years 
Mode of premium payment: Yearly 
First year premium : Rs.8,389 /- 
Annual premium for subsequent years: Rs.2,097/- 

 

End Of Year Total Premiums Paid Till End Of Year Benefit Payable On Death during the year
Guaranteed Variable Total
Scenario 1 Scenario 2 Scenario 1 Scenario 2
1 8389 100000 185 965 100165 100965
2 10486 100000 415 2171 100415 102171
3 12583 100000 692 3618 100692 103618
4 14680 100000 1015 5306 101015 105306
5 16778 100000 1384 7235 101384 107235
6 16778 100000 1753 9165 101753 109165
7 16778 100000 2122 11094 102122 111094
8 16778 100000 2491 13024 102491 113024
9 16778 100000 2861 14953 102861 114953
10 16778 100000 3230 16882 103230 116882
15 16778 100000 5830 29801 105830 129801
20 16778 100000 7927 40539 107927 140539
25 16778 100000 10025 51277 110025 151277
End Of Year Total Premiums Paid Till End Of Year Benefit Payable On Death during the year
Guaranteed Variable Total
Scenario 1 Scenario 2 Scenario 1 Scenario 2
25 16778 16778 10025 51277 26802 68054

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 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. 


EXTRACT from Section 41 of the Insurance Act : 

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 bonafide insurance agent employed by the insurer.

Any person making default in complying with the provisions of this Section shall be punishable with a fine which may extend to Rs.500 / -

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