JEEVAN LABH Plan No.836 By NvM
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JEEVAN LABH
Plan No.836By NvM
Endowment Plan
Limited Premium Paying Term
Non-Linked
With Bonus & FAB
Only 3 Policy Terms Options
Option -Term - Premium Paying Term
1. 16yrs – 10yrs 2. 21yrs – 15yrs 3. 25yrs – 16yrs
Eligibility: Age at Entry Minimum : 8yrs completed
Maximum: 59yrs Nbd for Policy Term 16yrs 54yrs Nbd for Policy Term 21yrs 50yrs Nbd for Policy Term 25yrs
Maturity Benefits:
Basic Sum Assured + Bonus + F A B
Death Benefits:
Sum Assured on Death + Bonus + FAB
Sum Assured on Death = Higher of
1. 10 times of Annualised Premium 2. Basic Sum Assured3. 105% of Total Premiums paid
Accidental Death & Disability Benefit Rider
Optional – Additional PremiumAvailable from 18yrs of AgeCover Available up to Policy Term Or Age 70 Nbd, Which Ever is EarlierCan be Added at Any Time (O/S PPT 5yrs)Maximum AB Cover 100 Lakhs
New Term Assurance Rider
Optional – Additional PremiumAvailable from 18yrs of AgeCover Available up to Policy Term
Can be Added at Proposal Stage OnlyMaximum TR Cover 25 Lakhs
Mode of Premium Payment
Yearly – 2% RebateHalf Yearly – 1% RebateQuarterly - Nil Monthly - Nil (ECS/SSS)
High Sum Assured Rebate
2,00,000 to 4,90,000 – Nil5,00,000 to 9,90,000 – 1.25%10,00,000 to 14,90,00 – 1.50%15,00,000 and Above - 1.75%
per Rs.1000 B.S.A
Other Features:Proposal Form 300/340/360Service TaxGrace Period (30/15 days)Paid Up ValueSurrender Value (GSV/SSV)Revival within 2yrs from FUPLoan After 3yrsSuicide after 12 months 80% premiumsFree Look Period 15days from OP ReceiptDating Back within Financial Year (JAAM)
Premium Calculation:
For Age 8yrs, 836/16/10, SA 1 Lakh, Yearly
Tab Premium – 84.802% Rebate - 1.696 83.104x 100 - 8310.40
Yearly Premium Rs.8310/-
Example
1
Maturity Benefit:
Basic Sum Assured: 1,00,000Bonus 42x100x16 : 67,200FAB : N I LTotal Maturity : 1,67,200
Total Premium Paid in 10yrs
8310 x 10 = 83,100
Total Maturity After 16yrs
= 1,67,200
I.R.R = 6.13%
Premium Calculation:
For Age 30yrs, 836/21/15, SA 1 Lakh, Yearly
Tab Premium – 54.952% Rebate - 1.099 53.851x 100 - 5385.10
Yearly Premium Rs.5385/-
Example
2
Maturity Benefit:
Basic Sum Assured : 1,00,000Bonus 48x100x21 : 1,00,800FAB 50x100 : 5,000 Total Maturity : 2,05,800
Total Premium Paid in 10yrs
5385 x 15 = 80,775
Total Maturity After 21yrs
= 2,05,800
I.R.R = 6.62%
Premium Calculation:
For Age 30yrs, 836/25/16, SA 1 Lakh, Yearly
Tab Premium – 46.602% Rebate - 0.932 45.668x 100 - 4566.80
Yearly Premium Rs.4567/-
Example
3
Maturity Benefit:
Basic Sum Assured : 1,00,000Bonus 48x100x25 : 1,20,000FAB 330x100 : 33,000 Total Maturity : 2,53,000
Total Premium Paid in 10yrs
4567 x 16 = 73,072
Total Maturity After 21yrs
= 2,53,000
I.R.R = 7.06%
Unique Selling Points:
Suitable for Education and MarriageShort Term CommitmentLong Term Risk Cover80C Tax Benefit (up to Rs.1.50 Lakhs)Tax Free MaturityAccident & Disability Cover up to 1 CroreNo Market Risk
Happy Selling
NvMDevelopment OfficerCity Branch – 8Chennai Division –IVoice: 98401 90360
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