Let us take the example of a policy holder
who is 35 years old and takes a policy
for the term of 9 years for a sum of Rs
1,00,000/-.He pays a single premium of
Rs 67058/-
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| 1
to
9 |
67058
|
100000
|
0
|
0
|
100000
|
100000
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|
|
|
|
|
|
|
|
|
|
|
|
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| 3 |
67058
|
15000
|
0
|
0
|
15000
|
15000
|
| 6
|
67058
|
15000
|
0 |
0 |
15000
|
15000
|
| 9
|
67058
|
67058
|
0 |
24300 |
67058
|
91358 |
Let us take the example of a policy holder
who is 35 years old and takes a policy for
the term of 12 years for a sum of Rs 1,00,000/-.He
pays a single premium of Rs 72145/-.
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| 1
to
12 |
72145
|
100000
|
0
|
0
|
100000
|
100000
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|
|
|
|
|
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| 3 |
72145
|
15000
|
0
|
0
|
15000
|
15000
|
| 6
|
72145
|
15000
|
0 |
0 |
15000
|
15000
|
| 9
|
72145
|
15000
|
0 |
0 |
15000
|
15000
|
12 |
72145 |
72145 |
0 |
40800 |
72145 |
112945 |
Let us take the example of a policy holder
who is 35 years old and takes a policy for
the term of 15 years for a sum of Rs 1,00,000/-.He
pays a single premium of Rs 75195/-.
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| 1
to
15 |
75195
|
100000
|
0
|
0
|
100000
|
100000
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|
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|
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|
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|
|
| 3 |
75195
|
15000
|
0
|
0
|
15000
|
15000
|
| 6
|
75195
|
15000
|
0 |
0 |
15000
|
15000
|
| 9
|
75195
|
15000
|
0 |
0 |
15000
|
15000
|
12 |
75195
|
15000
|
0 |
0 |
15000
|
15000
|
15 |
75195
|
75195 |
0 |
60000 |
75195 |
135195 |
i) The above examples are applicable to
a *standard non-smoker male/female
(*medical condition, lifestyle and occupation)
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 LIC 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 example
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.
The maturity benefit is the amount shown
at the end of the policy term.
“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.”
(1) 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 the insurance
agent satisfies the prescribed conditions
establishing that he is a bona fide insurance
agent employed by the insurer.
(2) Any person making default in complying
with the provisions of this Section shall
be punishable with a fine which may extend
to Rs.500 / -
“Conditions apply”
for which please refer to the policy document
or contact our nearest branch office.
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