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Home » Products » Withdrawn Plans » LIC's Jeevan Tarang (Plan No. 178) » Benefit Illustration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:
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:

Year
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:
 

Year
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:
 

Year
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:

Year
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

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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