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
Accumulation period: 10 years
Premium paying term: Single Premium
Single Premium: Rs. 75,600/-
Sum Assured: Rs.1,00,000/-
Simple Reversionary Bonus:
Scenario 1: Rs.20/- per Rs.1,000/- Basic Sum Assured per annum;
Scenario 2: Rs.88/- per Rs.1,000/- Basic Sum Assured per annum.
Loyalty Addition:
Scenario 1: Rs.6/- per Rs.1,000/- Basic Sum Assured per annum;
Scenario 2: Rs.30/- per Rs.1,000/- Basic Sum Assured per annum.
|
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 |
| 10 |
75,600 |
- |
20,000 |
88,000 |
20,000 |
88,000 |
| 11 to 64 |
75,600 |
5,500 |
-
|
- |
5,500 |
5,500 |
| 65 |
75,600 |
1,05,500 |
39,000 |
1,95,000 |
1,44,500 |
3,00,500 |
Death Benefit:
|
End Of Year
|
Total Premiums Paid Till End Of Year
|
Benefit on death during the year |
| Guaranteed |
Variable |
Total |
| Scenario 1 |
Scenario 2 |
Scenario 1 |
Scenario 2 |
| 1 |
75,600 |
1,00,000 |
2,000 |
8,800 |
1,02,000 |
1,08,800 |
| 2 |
75,600 |
1,00,000 |
4,000
|
17,600 |
1,04,000 |
1,17,600 |
| 3 |
75,600 |
1,00,000 |
6,000 |
26,400 |
1,06,000 |
1,26,400 |
| 4 |
75,600
|
1,00,000 |
8,000 |
35,200 |
1,08,000 |
1,35,200 |
| 5 |
75,600 |
1,00,000 |
10,000 |
44,000 |
1,10,000 |
1,44,000 |
| 6 |
75,600 |
1,00,000 |
12,000 |
52,800 |
1,12,000 |
1,52,800 |
| 7 |
75,600 |
1,00,000 |
14,000 |
61,600 |
1,14,000 |
1,61,600 |
| 8 |
75,600 |
1,00,000 |
16,000 |
70,400 |
1,16,000 |
1,70,400 |
| 9 |
75,600 |
1,00,000 |
18,000 |
79,200 |
1,18,000 |
1,79,200 |
| 10 |
75,600 |
1,00,000 |
20,000 |
88,000 |
1,20,000 |
1,88,000 |
| 20 |
75,600 |
1,00,000 |
12,000 |
60,000 |
1,12,000 |
1,60,000 |
| 30 |
75,600 |
1,00,000 |
18,000 |
90,000 |
1,18,000 |
1,90,000 |
| 40 |
75,600 |
1,00,000 |
24,000 |
1,20,000 |
1,24,000 |
2,20,000 |
| 50 |
75,600 |
1,00,000
|
30,000
|
1,50,000
|
1,30,000
|
2,50,000
|
| 60 |
75,600 |
1,00,000
|
36,000
|
1,80,000
|
1,36,000
|
2,80,000
|
| 65 |
75,600 |
1,00,000
|
39,000
|
1,95,000
|
1,39,000
|
2,95,000
|
Illustration 2:
Age at entry: 35 years
Accumulation period: 15 years
Premium paying term: Single Premium
Single Premium: Rs. 64,400/-
Sum Assured: Rs.1,00,000/-
Simple Reversionary Bonus:
Scenario 1: Rs.20/- per Rs.1,000/- Basic Sum Assured per annum;
Scenario 2: Rs.88/- per Rs.1,000/- Basic Sum Assured per annum.
Loyalty Addition:
Scenario 1: Rs.6/- per Rs.1,000/- Basic Sum Assured per annum;
Scenario 2: Rs.30/- per Rs.1,000/- Basic Sum Assured per annum.
Survival / Maturity Benefits:
|
|
Total Premiums Paid Till End Of Year
|
Benefits payable on survival / maturity at the end of year |
| Guaranteed |
Variable |
Total |
| Scenario 1 |
Scenario 2 |
Scenario 1 |
Scenario 2 |
| 15 |
64,400 |
- |
30,000
|
1,32,000
|
30,000
|
1,32,000
|
| 16 to 64 |
64,400 |
5,500 |
-
|
-
|
5,500
|
5,500
|
| 65 |
64,400 |
1,05,500 |
39,000
|
1,95,000
|
1,44,500
|
3,00,500
|
Death Benefit:
|
Year
|
Total Premiums Paid Till End Of Year
|
Benefit on death during the year |
| Guaranteed |
Variable |
Total |
| Scenario 1 |
Scenario 2 |
Scenario 1 |
Scenario 2 |
| 1 |
64,400 |
1,00,000 |
2,000
|
8,800
|
1,02,000
|
1,08,800
|
| 2 |
64,400 |
1,00,000 |
4,000
|
17,600
|
1,04,000
|
1,17,600
|
| 3 |
64,400 |
1,00,000 |
6,000
|
26,400
|
1,06,000
|
1,26,400
|
| 4 |
64,400 |
1,00,000 |
8,000 |
35,200 |
1,08,000 |
1,35,200 |
| 5 |
64,400 |
1,00,000 |
10,000 |
44,000 |
1,10,000 |
1,44,000 |
| 6 |
64,400 |
1,00,000 |
12,000 |
52,800 |
1,12,000 |
1,52,800 |
| 7 |
64,400 |
1,00,000 |
14,000 |
61,600 |
1,14,000 |
1,61,600 |
| 8 |
64,400 |
1,00,000 |
16,000 |
70,400 |
1,16,000 |
1,70,400 |
| 9 |
64,400 |
1,00,000 |
18,000 |
79,200 |
1,18,000 |
1,79,200 |
| 10 |
64,400 |
1,00,000 |
20,000 |
88,000 |
1,20,000 |
1,88,000 |
| 15 |
64,400 |
1,00,000 |
30,000 |
1,32,000 |
1,30,000 |
2,32,000 |
| 20 |
64,400 |
1,00,000 |
12,000 |
60,000 |
1,12,000 |
1,60,000 |
| 30 |
64,400 |
1,00,000 |
18,000 |
90,000 |
1,18,000 |
1,90,000 |
| 40 |
64,400 |
1,00,000 |
24,000 |
1,20,000 |
1,24,000 |
2,20,000 |
| 50 |
64,400 |
1,00,000 |
30,000 |
1,50,000 |
1,30,000 |
2,50,000 |
| 60 |
64,400 |
1,00,000 |
36,000 |
1,80,000 |
1,36,000 |
2,80,000 |
| 65 |
64,400 |
1,00,000 |
39,000 |
1,95,000 |
1,39,000 |
2,95,000 |
Illustration 3:
Age at entry: 35 years
Accumulation period: 20 years
Premium paying term: Single Premium
Annual Premium: Rs.54,800/-
Sum Assured: Rs.1,00,000/-
Simple Reversionary Bonus:
Scenario 1: Rs.20/- per Rs.1,000/- Basic Sum Assured per annum;
Scenario 2: Rs.88/- per Rs.1,000/- Basic Sum Assured per annum.
Loyalty Addition:
Scenario 1: Rs.6/- per Rs.1,000/- Basic Sum Assured per annum;
Scenario 2: Rs.30/- per Rs.1,000/- Basic Sum Assured per annum.
Survival / Maturity Benefits:
|
|
Total Premiums Paid Till End Of Year
|
Benefits payable on survival / maturity at the end of year |
| Guaranteed |
Variable |
Total |
| Scenario 1 |
Scenario 2 |
Scenario 1 |
Scenario 2 |
| 20 |
54,800 |
- |
40,000
|
176,000
|
40,000
|
176,000
|
| 21 to 64 |
54,800 |
5,500 |
-
|
-
|
5,500
|
5,500
|
| 65 |
54,800 |
1,05,500 |
39,000
|
1,95,000
|
1,44,500
|
3,00,500
|
Death Benefit:
|
Year
|
Total Premiums Paid Till End Of Year
|
Benefit on death during the year |
| Guaranteed |
Variable |
Total |
| Scenario 1 |
Scenario 2 |
Scenario 1 |
Scenario 2 |
| 1 |
54,800 |
1,00,000 |
2,000
|
8,800
|
1,02,000
|
1,08,800
|
| 2 |
54,800 |
1,00,000 |
4,000
|
17,600
|
1,04,000
|
1,17,600
|
| 3 |
54,800 |
1,00,000 |
6,000
|
26,400
|
1,06,000
|
1,26,400
|
| 4 |
54,800 |
1,00,000 |
8,000 |
35,200 |
1,08,000 |
1,35,200 |
| 5 |
54,800 |
1,00,000 |
10,000 |
44,000 |
1,10,000 |
1,44,000 |
| 6 |
54,800 |
1,00,000 |
12,000 |
52,800 |
1,12,000 |
1,52,800 |
| 7 |
54,800 |
1,00,000 |
14,000 |
61,600 |
1,14,000 |
1,61,600 |
| 8 |
54,800 |
1,00,000 |
16,000 |
70,400 |
1,16,000 |
1,70,400 |
| 9 |
54,800 |
1,00,000 |
18,000 |
79,200 |
1,18,000 |
1,79,200 |
| 10 |
54,800 |
1,00,000 |
20,000 |
88,000 |
1,20,000 |
1,88,000 |
| 20 |
54,800 |
1,00,000 |
40,000 |
1,76,000 |
1,40,000 |
2,76,000 |
| 30 |
54,800 |
1,00,000 |
18,000 |
90,000 |
1,18,000 |
1,90,000 |
| 40 |
54,800 |
1,00,000 |
24,000 |
1,20,000 |
1,24,000 |
2,20,000 |
| 50 |
54,800 |
1,00,000 |
30,000 |
1,50,000 |
1,30,000 |
2,50,000 |
| 60 |
54,800 |
1,00,000 |
36,000 |
1,80,000 |
1,36,000 |
2,80,000 |
| 65 |
54,800 |
1,00,000 |
39,000 |
1,95,000 |
1,39,000 |
2,95,000 |
Illustration 4:
Age at entry: 35 years
Accumulation period: 10 years
Premium paying term: 10 years Mode of premium payment: Yearly
Annual Premium: Rs.10,692/-
Sum Assured: Rs.1,00,000/-
Simple Reversionary Bonus:
Scenario 1: Rs.20/- per Rs.1,000/- Basic Sum Assured per annum;
Scenario 2: Rs.64/- per Rs.1,000/- Basic Sum Assured per annum.
Loyalty Addition:
Scenario 1: Rs.6/- per Rs.1,000/- Basic Sum Assured per annum;
Scenario 2: Rs.24/- per Rs.1,000/- Basic Sum Assured per annum.
Survival / Maturity Benefits:
|
|
Total Premiums Paid Till End Of Year
|
Benefits payable on survival / maturity at the end of year |
| Guaranteed |
Variable |
Total |
| Scenario 1 |
Scenario 2 |
Scenario 1 |
Scenario 2 |
| 10 |
1,06,920 |
- |
20,000
|
64,000
|
20,000
|
64,000
|
| 11 to 64 |
1,06,920 |
5,500 |
-
|
-
|
5,500
|
5,500
|
| 65 |
1,06,920 |
1,05,500 |
39,000
|
1,56,000
|
1,44,500
|
2,61,500
|
Death Benefit:
|
Year
|
Total Premiums Paid Till End Of Year
|
Benefit on death during the year |
| Guaranteed |
Variable |
Total |
| Scenario 1 |
Scenario 2 |
Scenario 1 |
Scenario 2 |
| 1 |
10,692 |
1,00,000 |
2,000
|
6,400
|
1,02,000
|
1,06,400
|
| 2 |
21,384 |
1,00,000 |
4,000
|
12,800
|
1,04,000
|
1,12,800
|
| 3 |
32,076 |
1,00,000 |
6,000
|
19,200
|
1,06,000
|
1,19,200
|
| 4 |
42,768 |
1,00,000 |
8,000 |
25,600 |
1,08,000 |
1,25,600 |
| 5 |
53,460 |
1,00,000 |
10,000 |
32,000 |
1,10,000 |
1,32,000 |
| 6 |
64,152 |
1,00,000 |
12,000 |
38,400 |
1,12,000 |
1,38,400 |
| 7 |
74,844 |
1,00,000 |
14,000 |
44,800 |
1,14,000 |
1,44,800 |
| 8 |
85,536 |
1,00,000 |
16,000 |
51,200 |
1,16,000 |
1,51,200 |
| 9 |
96,228 |
1,00,000 |
18,000 |
57,600 |
1,18,000 |
1,57,600 |
| 10 |
1,06,920 |
1,00,000 |
20,000 |
64,000 |
1,20,000 |
1,64,000 |
| 20 |
1,06,920 |
1,00,000 |
12,000 |
48,000 |
1,12,000 |
1,48,000 |
| 30 |
1,06,920 |
1,00,000 |
18,000 |
72,000 |
1,18,000 |
1,72,000 |
| 40 |
1,06,920 |
1,00,000 |
24,000 |
96,000 |
1,24,000 |
1,96,000 |
| 50 |
1,06,920 |
1,00,000 |
30,000 |
1,20,000 |
1,30,000 |
2,20,000 |
| 60 |
1,06,920 |
1,00,000 |
36,000 |
1,44,000 |
1,36,000 |
2,44,000 |
| 65 |
1,06,920 |
1,00,000 |
39,000 |
1,56,000 |
1,39,000 |
2,56,000 |
Illustration 5:
Age at entry: 35 years
Accumulation period: 15 years
Premium paying term: 15 years Mode of premium payment: Yearly
Annual Premium: Rs.6,997/-
Sum Assured: Rs.1,00,000/-
Simple Reversionary Bonus:
Scenario 1: Rs.20/- per Rs.1,000/- Basic Sum Assured per annum;
Scenario 2: Rs.64/- per Rs.1,000/- Basic Sum Assured per annum.
Loyalty Addition:
Scenario 1: Rs.6/- per Rs.1,000/- Basic Sum Assured per annum;
Scenario 2: Rs.24/- per Rs.1,000/- Basic Sum Assured per annum.
Survival / Maturity Benefits:
|
|
Total Premiums Paid Till End Of Year
|
Benefits payable on survival / maturity at the end of year |
| Guaranteed |
Variable |
Total |
| Scenario 1 |
Scenario 2 |
Scenario 1 |
Scenario 2 |
| 15 |
1,04,955 |
- |
30,000
|
96,000
|
30,000
|
96,000
|
| 16 to 64 |
1,04,955 |
5,500 |
-
|
-
|
5,500
|
5,500
|
| 65 |
1,04,955 |
1,05,500 |
39,000
|
1,56,000
|
1,44,500
|
2,61,500
|
Death Benefit:
|
Year
|
Total Premiums Paid Till End Of Year
|
Benefit on death during the year |
| Guaranteed |
Variable |
Total |
| Scenario 1 |
Scenario 2 |
Scenario 1 |
Scenario 2 |
| 1 |
6,997 |
1,00,000 |
2,000
|
6,400
|
1,02,000
|
1,06,400
|
| 2 |
13,994 |
1,00,000 |
4,000
|
12,800
|
1,04,000
|
1,12,800
|
| 3 |
20,991 |
1,00,000 |
6,000
|
19,200
|
1,06,000
|
1,19,200
|
| 4 |
27,988 |
1,00,000 |
8,000 |
25,600 |
1,08,000 |
1,25,600 |
| 5 |
34,985 |
1,00,000 |
10,000 |
32,000 |
1,10,000 |
1,32,000 |
| 6 |
41,982 |
1,00,000 |
12,000 |
38,400 |
1,12,000 |
1,38,400 |
| 7 |
48,979 |
1,00,000 |
14,000 |
44,800 |
1,14,000 |
1,44,800 |
| 8 |
55,976 |
1,00,000 |
16,000 |
51,200 |
1,16,000 |
1,51,200 |
| 9 |
62,973 |
1,00,000 |
18,000 |
57,600 |
1,18,000 |
1,57,600 |
| 10 |
69,970 |
1,00,000 |
20,000 |
64,000 |
1,20,000 |
1,64,000 |
| 15 |
1,04,955 |
1,00,000 |
30,000 |
96,000 |
1,30,000 |
1,96,000 |
| 20 |
1,04,955 |
1,00,000 |
12,000 |
48,000 |
1,12,000 |
1,48,000 |
| 30 |
1,04,955 |
1,00,000 |
18,000 |
72,000 |
1,18,000 |
1,72,000 |
| 40 |
1,04,955 |
1,00,000 |
24,000 |
96,000 |
1,24,000 |
1,96,000 |
| 50 |
1,04,955 |
1,00,000 |
30,000 |
1,20,000 |
1,30,000 |
2,20,000 |
| 60 |
1,04,955 |
1,00,000 |
36,000 |
1,44,000 |
1,36,000 |
2,44,000 |
| 65 |
1,04,955 |
1,00,000 |
39,000 |
1,56,000 |
1,39,000 |
2,56,000 |
Illustration 6:
Age at entry: 35 years
Accumulation period: 20 years
Premium paying term: 20 years Mode of premium payment: Yearly
Annual Premium: Rs.5,047/-
Sum Assured: Rs.1,00,000/-
Simple Reversionary Bonus:
Scenario 1: Rs.20/- per Rs.1,000/- Basic Sum Assured per annum;
Scenario 2: Rs.64/- per Rs.1,000/- Basic Sum Assured per annum.
Loyalty Addition:
Scenario 1: Rs.6/- per Rs.1,000/- Basic Sum Assured per annum;
Scenario 2: Rs.24/- per Rs.1,000/- Basic Sum Assured per annum.
Survival / Maturity Benefits:
|
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 |
| 20 |
1,00,940 |
- |
40,000
|
1,28,000
|
40,000
|
1,28,000
|
| 21 to 64 |
1,00,940 |
5,500 |
-
|
-
|
5,500
|
5,500
|
| 65 |
1,00,940 |
1,05,500 |
39,000
|
1,56,000
|
1,44,500
|
2,61,500
|
Death Benefit:
|
Year
|
Total Premiums Paid Till End Of Year
|
Benefit on death during the year |
| Guaranteed |
Variable |
Total |
| Scenario 1 |
Scenario 2 |
Scenario 1 |
Scenario 2 |
| 1 |
5,047 |
1,00,000 |
2,000
|
6,400
|
1,02,000
|
1,06,400
|
| 2 |
10,094 |
1,00,000 |
4,000
|
12,800
|
1,04,000
|
1,12,800
|
| 3 |
15,141 |
1,00,000 |
6,000
|
19,200
|
1,06,000
|
1,19,200
|
| 4 |
20,188 |
1,00,000 |
8,000 |
25,600 |
1,08,000 |
1,25,600 |
| 5 |
25,235 |
1,00,000 |
10,000 |
32,000 |
1,10,000 |
1,32,000 |
| 6 |
30,282 |
1,00,000 |
12,000 |
38,400 |
1,12,000 |
1,38,400 |
| 7 |
35,329 |
1,00,000 |
14,000 |
44,800 |
1,14,000 |
1,44,800 |
| 8 |
40,376 |
1,00,000 |
16,000 |
51,200 |
1,16,000 |
1,51,200 |
| 9 |
45,423 |
1,00,000 |
18,000 |
57,600 |
1,18,000 |
1,57,600 |
| 10 |
50,470 |
1,00,000 |
20,000 |
64,000 |
1,20,000 |
1,64,000 |
| 20 |
1,00,940 |
1,00,000 |
40,000 |
1,28,000 |
1,40,000 |
2,28,000 |
| 30 |
1,00,940 |
1,00,000 |
18,000 |
72,000 |
1,18,000 |
1,72,000 |
| 40 |
1,00,940 |
1,00,000 |
24,000 |
96,000 |
1,24,000 |
1,96,000 |
| 50 |
1,00,940 |
1,00,000 |
30,000 |
1,20,000 |
1,30,000 |
2,20,000 |
| 60 |
1,00,940 |
1,00,000 |
36,000 |
1,44,000 |
1,36,000 |
2,44,000 |
| 65 |
1,00,940 |
1,00,000 |
39,000 |
1,56,000 |
1,39,000 |
2,56,000 |
Notes:
The above illustration is applicable to a non-smoker male/female standard (from medical, life style and occupation point of view) life.
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.
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.
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. The Maturity Benefit is the amount shown at the end of the policy ter
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 rebates 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 taking 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
Any person making default in complying with the provision of this Section shall be punishable with a fine, which may extend to 500 rupees.
NOTE: “Conditions apply” for which please refer to the Policy document or contact our nearest Branch Office