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Home » Products » Withdrawn Plans » LIC's Education Annuity Plan » Benefit Illustration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 life insurance company. 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 investment returns. These assumed rates of return are not guaranteed and they are not upper or lower limits of what you might get back as the value of your policy is dependant on a number of factors including future investment performance.”
Illustration
Age at entry: 35 years
Policy Term: 25 years
Premium paying term: 25 years
Mode of premium payment: Yearly
Sum Assured: Rs. 1,00,000/-
Annual Premium: Rs. 3727/-

 

End of year
Total premiums paid till end of year
Benefit payable on death / maturity at the end of year
 
Guaranteed Variable Total
Scenario 1 Scenario 2 Scenario 1 Scenario 2
1 3,727
 
- - - - -
2 7,454
 
- - - - -
3 11,181
 
- - - - -
4 14,908
 
- - - - -
5 18,635
 
- - - - -
6 22,362
 
- - - - -
7 26,089
 
- - - - -
8 29,816
 
- - - - -
9 33,543
 
- - - - -
10 37,270
 
- - - - -
15 55,905
 
- - - - -
20 74,540
 
- - - - -
25 93,175
 
100000 69,500
 
182,500
 
169,500
 
282,500
 


(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.

(iv) 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
 

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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