Benefit Illustration
It is a unit linked assurance plan where premium payment term (PPT) is 5 years and the premium payable in the first year will be 50% of total premium payable under the policy. The level of cover will depend on the level of premium you agree to pay.
Four types of investment funds are offered. Premiums paid after allocation charge will purchase units of the Fund type chosen. The Unit Fund is subject to various charges and value of the units may increase or decrease, depending on the Net Asset Value (NAV). The plan therefore serves the purpose of insurance-cum-investment.
1. Payment of Premiums: You may pay premiums regularly at yearly, half-yearly, quarterly or monthly (ECS) intervals for 5 years. The minimum First year premium will be Rs.20,000/- and you may pay.
FREQUENCY OF PREMIUM PAYMENT : ANNUAL BASIC PLAN
AGE AT ENTRY: 35 years
TERM: 20 years
PPT: 5 years
FIRST YEAR PREMIUM: 20000
SUM ASSURED UNDER BASIC PLAN: 200000
Scenario 1
| End Of Policy Year |
Total Premium Paid |
DEATH BENEFIT PAYABLE AT END OF YEAR OF DEATH |
SURRENDER/ MATURITY VALUE |
| Guaranteed |
Variable |
Variable |
Payable Amount |
Payable Amount |
Payable Amount |
Payable Amount |
| |
|
|
Scenario 1 |
Scenario 2 |
Scenario 1 |
Scenario 2 |
Scenario 1 |
Scenario 2 |
| 1 |
20000 |
200000 |
16732 |
17384 |
200000 |
200000 |
0 |
0 |
| 2 |
25000 |
200000 |
22048 |
23602 |
200000 |
200000 |
0 |
0 |
| 3 |
30000 |
200000 |
27610 |
30360 |
200000 |
200000 |
27610 |
30360 |
| 4 |
35000 |
200000 |
33429 |
37706 |
200000 |
200000 |
33429 |
37706 |
| 5 |
40000 |
200000 |
39518 |
45692 |
200000 |
200000 |
39518 |
45692 |
| 6 |
40000 |
200000 |
40752 |
49048 |
200000 |
200000 |
40752 |
49048 |
| 7 |
40000 |
200000 |
42007 |
52671 |
200000 |
200000 |
42007 |
52671 |
| 8 |
40000 |
200000 |
43289 |
56592 |
200000 |
200000 |
43289 |
56592 |
| 9 |
40000 |
200000 |
44597 |
60838 |
200000 |
200000 |
44597 |
60838 |
| 10 |
40000 |
200000 |
45924 |
65433 |
200000 |
200000 |
45924 |
65433 |
| 11 |
40000 |
200000 |
47260 |
70403 |
200000 |
200000 |
47260 |
70403 |
| 12 |
40000 |
200000 |
48597 |
75778 |
200000 |
200000 |
48597 |
75778 |
| 13 |
40000 |
200000 |
49924 |
81591 |
200000 |
200000 |
49924 |
81591 |
| 14 |
40000 |
200000 |
51232 |
87884 |
200000 |
200000 |
51232 |
87884 |
| 15 |
40000 |
200000 |
52511 |
94702 |
200000 |
200000 |
52511 |
94702 |
| 16 |
40000 |
200000 |
53750 |
102096 |
200000 |
200000 |
53750 |
102096 |
| 17 |
40000 |
200000 |
54939 |
110129 |
200000 |
200000 |
54939 |
110129 |
| 18 |
40000 |
200000 |
56067 |
118870 |
200000 |
200000 |
56067 |
118870 |
| 19 |
40000 |
200000 |
57121 |
128399 |
200000 |
200000 |
57121 |
128399 |
| 20 |
40000 |
200000 |
58090 |
138809 |
200000 |
200000 |
58090 |
138809 |
Reduction in yield @ 6% 3.99%
Reduction in yield @ 10% 3.17%
FREQUENCY OF PREMIUM PAYMENT : ANNUAL BASIC PLAN +AB
AGE AT ENTRY: 35 years
TERM: 20 years
PPT: 5 years
FIRST YEAR PREMIUM: 20000
SUM ASSURED UNDER BASIC PLAN: 200000
| End Of Policy Year |
Total Premium Paid |
DEATH BENEFIT PAYABLE AT END OF YEAR OF DEATH |
SURRENDER/ MATURITY VALUE |
| Guaranteed |
Variable |
Variable |
Payable Amount |
Payable Amount |
Payable Amount |
Payable Amount |
| |
|
|
Scenario 1 |
Scenario 2 |
Scenario 1 |
Scenario 2 |
Scenario 1 |
Scenario 2 |
| 1 |
20000 |
200000 |
16617 |
17266 |
200000 |
200000 |
0 |
0 |
| 2 |
25000 |
200000 |
21811 |
23356 |
200000 |
200000 |
0 |
0 |
| 3 |
30000 |
200000 |
27245 |
29974 |
200000 |
200000 |
27245 |
29974 |
| 4 |
35000 |
200000 |
32930 |
37166 |
200000 |
200000 |
32930 |
37166 |
| 5 |
40000 |
200000 |
38877 |
44985 |
200000 |
200000 |
38877 |
44985 |
| 6 |
40000 |
200000 |
39962 |
48158 |
200000 |
200000 |
39962 |
48158 |
| 7 |
40000 |
200000 |
41060 |
51580 |
200000 |
200000 |
41060 |
51580 |
| 8 |
40000 |
200000 |
42176 |
55282 |
200000 |
200000 |
42176 |
55282 |
| 9 |
40000 |
200000 |
43310 |
59289 |
200000 |
200000 |
43310 |
59289 |
| 10 |
40000 |
200000 |
44452 |
63621 |
200000 |
200000 |
44452 |
63621 |
| 11 |
40000 |
200000 |
45593 |
68303 |
200000 |
200000 |
45593 |
68303 |
| 12 |
40000 |
200000 |
46723 |
73361 |
200000 |
200000 |
46723 |
73361 |
| 13 |
40000 |
200000 |
47831 |
78828 |
200000 |
200000 |
47831 |
78828 |
| 14 |
40000 |
200000 |
48907 |
84738 |
200000 |
200000 |
48907 |
84738 |
| 15 |
40000 |
200000 |
49939 |
91135 |
200000 |
200000 |
49939 |
91135 |
| 16 |
40000 |
200000 |
50916 |
98065 |
200000 |
200000 |
50916 |
98065 |
| 17 |
40000 |
200000 |
51824 |
105585 |
200000 |
200000 |
51824 |
105585 |
| 18 |
40000 |
200000 |
52652 |
113757 |
200000 |
200000 |
52652 |
113757 |
| 19 |
40000 |
200000 |
53386 |
122657 |
200000 |
200000 |
53386 |
122657 |
| 20 |
40000 |
200000 |
54010 |
132368 |
200000 |
200000 |
54010 |
132368 |
Reduction in yield @ 6% 4.39%
Reduction in yield @ 10% 3.43%
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.”
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) LIC does not authorize its agents/intermediaries, staff and officials to express their opinion on the future performance of the “ULIP” fund, excepting the above illustrative rate of 6% and 10% growth.
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.