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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 103)

Age at entry: 35 Years
Policy Term: 25 Years
Mode of premium payment: Yearly
Sum Assured: Rs. 1,00,000 /-
Annual Premium: Rs. 4653 /-
 

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 4653
 
100000 0 0 100000 100000
2 9306
 
100000 0 0 100000 100000
3 13959
 
100000 0 0 100000 100000
4 18612
 
100000 0 0 100000 100000
5 23265
 
100000 0 0 100000 100000
6 27918
 
100000 0 0 100000 100000
7 32571
 
100000 0 0 100000 100000
8 37224
 
100000 0 0 100000 100000
9 41877
 
100000 0 0 100000 100000
10 46530
 
100000 0 0 100000 100000
15 69795
 
100000 0 0 100000 100000
20 93060
 
100000 0 0 100000 100000
25 116325
 
100000 0 0 100000 100000


In addition,

Year Total Premiums paid till end of year Benefit payable on death/survival upto the end of policy term
Guaranteed Variable Total
Scenario 1 Scenario 2 Scenario 1 Scenario 2
22 102366 25,000 0 0 25,000 25,000
23 107019 25,000 0 0 25,000 25,000
24 111672 25,000 0 0 25,000 25,000
25 116325 25,000 69,500 182,500 94,500 207,500


(i) This illustration is applicable to a non-smoker male/female standard (from medical and life style 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) Future bonuses 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.

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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