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Home » Products » Withdrawn Plans » LIC's Jeevan Aadhar (Plan No. 114) » Benefit Illustration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 (Table 114)

Age ate entry: 35 years
Age of dependant: 5 years
Premium paying term: 15 years
Sum Asured: Rs. 1,00,000/-
Annual premium: Rs. 4095/-

 

Year
Premium Paid (Rs.)
Benefit on death of life assured payable at the end of year (Rs.)
Guaranteed Variable Total
Scenario 1 Scenario 2 Scenario 1 Scenario 2
1 4095
 
100000
 
0 0 100000
 
100000
 
2 8190
 
110000
 
0 0 110000
 
110000
 
3 12285
 
120000
 
0
 
0
 
120000
 
120000
 
4 16380
 
130000
 
0
 
0
 
130000
 
130000
 
5 20475
 
140000
 
0
 
0
 
140000
 
140000
 
6 24570
 
150000
 
0
 
0
 
150000
 
150000
 
7 28665
 
160000
 
0
 
0
 
160000
 
160000
 
8 32760
 
170000
 
0
 
0
 
170000
 
170000
 
9 36855
 
180000
 
0
 
0
 
180000
 
180000
 
10 40950
 
190000
 
0
 
0
 
190000
 
190000
 
15 61425
 
240000
 
0
 
0
 
240000
 
240000
 
20 61425
 
290000
 
0
 
1000
 
290000
 
291000
 
30 61425
 
390000
 
0
 
33000
 
390000
 
423000
 
40 61425
 
400000
 
0
 
140000
 
400000
 
540000
 


* 20% of the amount shall be paid in lump sum and the balance of 80% shall be utilised to pay an annuity on the life of handicapped dependant. For example, if the life assured dies during 15th year, then Rs.48,000/- will be paid in a lump sum and Rs.17,530/- will be paid as yearly annuity for 15 years certain and thereafter so long the handicapped dependant survives.

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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