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Home » Products » Withdrawn Plans » LIC's Child Career Plan (Plan No. 184) » Benefit Illustration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 Illustration1
Age of LA (Yrs.): 0
Term(Yrs.): 25
Age At Maturity (Yrs.): 25
PPT(Yrs.): 6
Sum Assured(Rs.): 100000
Premium: 10128
Extd Term(Yrs.): 7
 

END OF YEAR TOTAL PREMIUMS PAID BENEFIT ON DEATH DURING THE YEAR
  GUARANTEED VARIABLE TOTAL
SCENARIO 1 SCENARIO 2 SCENARIO 1 SCENARIO 2
1 10128 10432 0 0 10432 10432
2 20256 21177 0 0 21177 21177
3 30384 32244 0 0 32244 32244
4 40512 43643 0 0 43643 43643
5 50640 55384 0 0 55384 55384
6 60768 100000 13200 45000 113200 145000
7 60768 100000 15400 52500 115400 152500
8 60768 100000 17600 60000 117600 160000
9 60768 100000 19800 67500 119800 167500
10 60768 100000 22000 75000 122000 175000
11 60768 100000 24200 82500 124200 182500
12 60768 100000 26400 90000 126400 190000
13 60768 100000 28600 97500 128600 197500
14 60768 100000 30800 105000 130800 205000
15 60768 100000 42000 150000 142000 250000
16 60768 100000 44800 160000 144800 260000
17 60768 100000 47600 170000 147600 270000
18 60768 100000 50400 180000 150400 280000
19 60768 100000 53200 190000 153200 290000
20 60768 100000 56000 200000 156000 300000
21 60768 100000 12600 52500 112600 152500
22 60768 100000 13200 55000 113200 155000
23 60768 100000 13800 57500 113800 157500
24 60768 100000 14400 60000 114400 160000
25 60768 100000 15000 62500 115000 162500
26   100000 0 0 100000 100000
27   100000 0 0 100000 100000
28   100000 0 0 100000 100000
29   100000 0 0 100000 100000
30   100000 0 0 100000 100000
31   100000 0 0 100000 100000
32   100000 0 0 100000 100000


Benefit Illustration2
Age of LA (Yrs.): 0
Term(Yrs.): 25
Age At Maturity (Yrs.): 25
PPT(Yrs.): 6
Sum Assured(Rs.): 100000
Premium: 10128
Extd Term(Yrs.): 7
 

END OF YEAR TOTAL PREMIUMS PAID BENEFIT ON DEATH DURING THE YEAR
  GUARANTEED VARIABLE TOTAL
SCENARIO 1 SCENARIO 2 SCENARIO 1 SCENARIO 2
1 10128 0 0 0 0 0
2 20256 0 0 0 0 0
3 30384 0 0 0 0 0
4 40512 0 0 0 0 0
5 50640 0 0 0 0 0
6 60768 0 0 0 0 0
7 60768 0 0 0 0 0
8 60768 0 0 0 0 0
9 60768 0 0 0 0 0
10 60768 0 0 0 0 0
11 60768 0 0 0 0 0
12 60768 0 0 0 0 0
13 60768 0 0 0 0 0
14 60768 0 0 0 0 0
15 60768 0 0 0 0 0
16 60768 0 0 0 0 0
17 60768 0 0 0 0 0
18 60768 0 0 0 0 0
19 60768 0 0 0 0 0
20 60768 30000 44000 150000 74000 180000
21 60768 15000 0 0 15000 15000
22 60768 15000 0 0 15000 15000
23 60768 15000 0 0 15000 15000
24 60768 15000 0 0 15000 15000
25 60768 15000 15000 62500 30000 77500

 
Benefit Illustration3
Age of LA (Yrs.): 0
Term(Yrs.): 25
Age At Maturity (Yrs.): 25
PPT(Yrs.): 20 
Sum Assured(Rs.): 100000
Premium: 4513 
Extd Term(Yrs.): 7
 

END OF YEAR TOTAL PREMIUMS PAID BENEFIT ON DEATH DURING THE YEAR
  GUARANTEED VARIABLE TOTAL
SCENARIO 1 SCENARIO 2 SCENARIO 1 SCENARIO 2
1 4513 4648 0 0 4648 4648
2 9026 9436 0 0 9436 9436
3 13539 14368 0 0 14368 14368
4 18052 19447 0 0 19447 19447
5 22565 24679 0 0 24679 24679
6 27078 100000 12000 33000 112000 133000
7 31591 100000 14000 38500 114000 138500
8 36104 100000 16000 44000 116000 144000
9 40617 100000 18000 49500 118000 149500
10 45130 100000 20000 55000 120000 155000
11 49643 100000 22000 60500 122000 160500
12 54156 100000 24000 66000 124000 166000
13 58669 100000 26000 71500 126000 171500
14 63182 100000 28000 77000 128000 177000
15 67695 100000 39000 105000 139000 205000
16 72208 100000 41600 112000 141600 212000
17 76721 100000 44200 119000 144200 219000
18 81234 100000 46800 126000 146800 226000
19 85747 100000 49400 133000 149400 233000
20 90260 100000 52000 140000 152000 240000
21 90260 100000 12600 31500 112600 131500
22 90260 100000 13200 33000 113200 133000
23 90260 100000 13800 34500 113800 134500
24 90260 100000 14400 36000 114400 136000
25 90260 100000 15000 37500 115000 137500
26   100000 0 0 100000 100000
27   100000 0 0 100000 100000
28   100000 0 0 100000 100000
29   100000 0 0 100000 100000
30   100000 0 0 100000 100000
31   100000 0 0 100000 100000
32   100000 0 0 100000 100000

 
Benefit Illustration4
Age of LA (Yrs.): 0
Term(Yrs.): 25
Age At Maturity (Yrs.): 25
PPT(Yrs.): 20 
Sum Assured(Rs.): 100000
Premium: 4513 
Extd Term(Yrs.): 7 
 

END OF YEAR TOTAL PREMIUMS PAID BENEFIT ON DEATH DURING THE YEAR
  GUARANTEED VARIABLE TOTAL
SCENARIO 1 SCENARIO 2 SCENARIO 1 SCENARIO 2
1 4513 0 0 0 0 0
2 9026 0 0 0 0 0
3 13539 0 0 0 0 0
4 18052 0 0 0 0 0
5 22565 0 0 0 0 0
6 27078 0 0 0 0 0
7 31591 0 0 0 0 0
8 36104 0 0 0 0 0
9 40617 0 0 0 0 0
10 45130 0 0 0 0 0
11 49643 0 0 0 0 0
12 54156 0 0 0 0 0
13 58669 0 0 0 0 0
14 63182 0 0 0 0 0
15 67695 0 0 0 0 0
16 72208 0 0 0 0 0
17 76721 0 0 0 0 0
18 81234 0 0 0 0 0
19 85747 0 0 0 0 0
20 90260 30000 40000 110000 70000 140000
21 90260 15000 0 0 15000 15000
22 90260 15000 0 0 15000 15000
23 90260 15000 0 0 15000 15000
24 90260 15000 0 0 15000 15000
25 90260 15000 15000 37500 30000 52500

 
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
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