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Home » Products » Withdrawn Plans » Jeevan Varsha » Benefit Illustration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.”


Notes :
 

i) This illustration is applicable to a 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.
;

Age of LA (Yrs.)
35
Term (Yrs.)
 
12
 
Premium Paying Term 9

 

Annual Premium (Rs.)
16053
Sum Assured (Rs.)
100000

 
Guaranteed Addition (Rs.)
per year per 1000 Sum Assured

 

 
End of year
Premiums Paid during the year
Benefit payable on death during the year
Guaranteed Variable Total
Scenario 1 Scenario 2 Scenario 1 Scenario 2
1
16053
107000
0
0
107000 107000
2
16053
114000  
0
0
114000
3
16053
121000
0
0
121000 121000
4
16053
128000
0
0
128000 128000
5
16053
135000
0
0
135000 135000
6
16053
142000
0
0
142000 142000
7
16053
149000
0
0
149000 149000
8
16053
156000
0
0
156000 156000
9
16053
163000
0
0
163000 163000
10
0
170000
0
0
170000 170000
11
0
177000
0
0
177000 177000
12
0
184000
0
40000
184000 224000

 

End of year
Premiums Paid during the year
Benefit payable on death during the year
Guaranteed Variable Total
Scenario 1 Scenario 2 Scenario 1 Scenario 2
1
16053
107000
0
0
107000 107000
2
16053
114000
0
0
114000 114000
3
16053
121000
0
0
121000 121000
4
16053
128000
0
0
128000 128000
5
16053
135000
0
0
135000 135000
6
16053
142000
0
0
142000 142000
7
16053
149000
0
0
149000 149000
8
16053
156000
0
0
156000 156000
9
16053
163000
0
0
163000 163000
10
0
170000
0
0
170000 170000
11
0
177000
0
0
177000 177000
12
0
184000
0
40000
184000 224000

 

Age of LA (Yrs.)
35
Term (Yrs.)
 
9
 
Premium Paying Term
9

 

Annual Premium (Rs.)
15720
Sum Assured (Rs.) 100000
 
Guaranteed Addition (Rs.)
65 per year per 1000 Sum Assured

 

End of year
Premiums Paid during the year
Benefit payable on death during the year
Guaranteed Variable Total
Scenario 1 Scenario 2 Scenario 1 Scenario 2
1
15720 106500
0
0
106500 106500
2
15720 113000
0
0
113000 113000
3
15720 119500
0
0
119500 119500
4
15720 126000
0
0
126000 126000
5
15720 132500
0
0
132500 132500
6
15720 139000
0
0
139000 139000
7
15720 145500
0
0
145500 145500
8
15720 152000
0
0
152000 152000
9
15720 158500
0
20000
158500 178500

 
 
 

End of year
Premiums Paid during the year
Benefit on Survival / Maturity at the end of year
Guaranteed Variable Total
Scenario 1 Scenario 2 Scenario 1 Scenario 2
1
15918 0
0
0
0 0
2
15918 0
0
0
0 0
3
15918 15000
0
0
15000 15000
4
15918 0
0
0
0 0
5
15918 0
0
0
0 0
6
15918 25000
0
0
25000 25000
7
15918 0
0
0
0 0
8
15918 0
0
0
0 0
9
15918 118500
0
20000
118500 138500

 

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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