PPT On New PLans 1 LICs NEW ENDOWMENT

PPT On New PLans 1

LIC’s NEW ENDOWMENT PLAN TABLE NO. 814 2

Table No 814 -New Endowment (1 ) Age at entry has been reduced : (8 yrs to 55 yrs ). (2) Policy term modified : ( 12 to 35 yrs ). (3) Min Sum assured is : ( 1 Lac). (4) All modes of Prem Payment : ( allowed ). (5 ) Maturity benefit : – No change. (6) Death benefit : –BSA or 10 times of annualized Prem , whichever is higher + Bonus+ FAB ( death benefit will not be less than 105% of total Prem Paid) (7) Loan / SV : ( Not much change ). (8) Revival : ( within 2 yrs of FUP ). (9) Service Tax – to be born by Policyholder.

Other Important Points (1 ) Agents commission: – Policy term 1 st yr 2 & 3 yr Subsequent yr 12 to 14 20% 7. 5% 5% 15 & above 25% 7. 5% 5% Bonus commission : - 40% of 1 st yr comm. (2) DOs credit : 12 to 14 yrs term – 60% 15 yrs & above term – 100% (3) Lower ages Prem slightly increased. (4) Higher ages and Max term: ( Prem less even after inclusion of S. tax hence return in higher ages improved).

Gist of Premium rate comparison between Table 14 & 814 Premium Reduced in Plan 814 • From Age 44 to 55 Yrs. premium rates have reduced for Any Term. • For Term 34 and above premium rates reduced FIRST Time at Age 24. • Highest reduction in premium rate is 9. 65 per thousand S. A. at Age 55 for term 20 Yrs. Premium Increased in Plan 814 • Highest increase at Age 20 & 21 for Term 12 Yrs. by 1. 90 per thousand S. A.

LIC’s NEW MONEY BACK PLAN TABLE NO. 820 & 821 6

NEW MONEY BACK PLANS TABLE 820 & 821 PARTICULAR ENTRY AGE MAX MTY AGE POLICY TERM PREM. PAYING TERM MIN. S. A. SURVIVAL BENEFIT PLAN 820 – NEW PLAN 821 – NEW MONEY BACK 20 MONEY BACK 25 YEARS 13 -50 YEARS 13 -45 YEARS 70 YEARS 20 YEARS 15 YEARS 70 YEARS 25 YEARS 20 YEARS 1, 000 20% OF SA AFTER 5 TH , 10 TH & 15 TH YEAR 1, 000 15% OF SA AFTER 5 TH , 10 TH 15 TH & 20 TH YEAR

NEW MONEY BACK PLANS TABLE 820 & 821 PARTICULAR PLAN 820 – NEW MONEY BACK 20 YEARS PLAN 821 – NEW MONEY BACK 25 YEARS MATURITY BENEFIT 40% OF SA + BONUS+FAB DEATH BENEFIT 1. 25 XBSA OR 10 XANNUALISED PREM, WHICHEVER IS HIGHER + BONUS + FAB (DEATH BENEFIT WILL NOT BE LESS THAN 105% OF PREM PAID) LOAN/S. V. AVAILABLE AFTER 3 YEARS REVIVAL WITHIN 2 YEARS OF FUP SERVICE TAX BY POLICY HOLDER

20 yrs & 25 yrs new money back ( Plan-820& 821 (1 ) Some favourable points: – i) Min S. A is now 1 Lac. ii) No Prem to be paid for last 5 yrs of the policy term. iii) Total Prem to be paid is lower than earlier. iv) Commission rate of agents : 1 st yr 2 & 3 yrs subsequent yrs 20% 7. 5% 5% v) Bonus commission: - 40% of 1 st yr commission. vi) DOs credit : - full.

LIC’s NEW JEEVAN ANAND TABLE NO. 815 10

New Jeevan Anand Policy (Plan-815) (1 ) Age: – 18 to 50 yr (earlier upto 65 yrs). (2) Max. Mty age: – 75 yrs (same as earlier) (3) Term: 15 to 35 yrs (earlier 5 – 57) (4) Mode: all modes allowed. (5) Min SA: 1 Lac (same as earlier) (6) Mode rebate: 2% for Yly, 1% for Hly (reduced) (7) High SA rebate: 1. 50%0 to 3%0 BSA (increased) (8) Mty Benefit: BSA+Bonus+FAB. (9) Death Benefit: i)During policy term –(1. 25*BSA or 10*annual Prem (whichever is higher) + Bonus+FAB) ii) After expiring policy term- (Basic SA) (Death benefit will not be less than 105% of total Prem paid (less taxes) as on date of death).

New Jeevan Anand Policy (Plan-815) (10) Accident Benefit : Available as a rider (earlier inbuilt upto 5 lacs) (11 ) Loan: – After 3 yrs ( 60% to 90% of SV ) (12) SV: –After 3 yrs (13) Revival: Within 2 yrs of FUP (14) Service tax: To be born by policy holder.

LIC’s NEW BIMA BACHAT TABLE NO. 816 13

New Bima Bachat Policy (Plan-816) (1 ) Age: – 15 to 66 (max maturity age 75 yrs). (2) Term : Same 9 yrs – 12 yrs – 15 yrs (2) Min S. A: – 35, 000 -- 50, 000 -- 70, 000 (4) Survival benefit: same 15% of SA after every 3 yrs. (5) Maturity benefit: same as earlier. Refund of Premium ( excluding taxes) plus loyalty addition. (6) Death benefit: (i ) upto to 5 yrs – Basic SA (ii) after 5 yrs - Basic SA+ LA (7) High SA rebate: based on term & SA band. (8) S. V available at any time : earlier after 1 yr. (9) Loan available after 1 year: earlier immediately. (10) Service tax to be born : by policy holder.

PREMIUM COMPARISION AGE 40 45 50 TABLE/TERM S. A. SINGLE PREM. 816 -12 50000 40197 175 -12 50000 37062 816 -12 100000 77901 175 -12 100000 73247 816 -12 200000 154398 175 -12 200000 146814

LIC’s NEW SINGLE PREMIUM ENDOWMENT PLAN TABLE NO. 817 16

Single Premium Endowment (Plan-817) (1 ) Age: – 90 days to 65 yrs (n. b. d). (2) Mty age: – 18 to 75 yrs (3) Term: 10 to 25 yrs (4) Min SA: 50, 000 (5) Risk date: i) If age less than 8 yrs risk will start either after 2 yr from DOC or policy anniversary after completion of 8 yrs of age whichever is earlier. ii) Age 8 yrs & more – from DOC (6) Maturity benefit: SA+Bonus+FAB if any. (7) Death benefit: (i)before risk date–Return of Prem excluding S. tax (ii)after risk date- SA+ Bonus+FAB if any (8) Loan: available after 1 yr. ( 30 to 90% of SA depending upon policy term & duration) (9) S. V value: any time during term. (10) Service tax to be born : by policy holder.

Why? LIC Single Premium Endowment Plan S: – Single premium- one time investment. P: –Protection – Risk cover for full Assured. E: Excellent for meeting educational needs of young ones. C: Children from the age of 90 days can be covered. I: Ideal for investment planning. Wide range of policy term. A: Attractive – participates in profits. L : Liquidity through loan. Best for Reinvestment of ULIP SV

THANK YOU 19