LIC New Plans One Ppt 2014

8/10/2019 LIC New Plans One Ppt 2014

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10/31/2014 STC- HGD 1

H G DASARFM,STC Bangalore


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1.LICs Single Premium

Endowment Plan

Plan No. 817UIN 512N283V01


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Single Premium

With Profit Endowment Plan

Minimum Age at entry is 90 days

Loan available after completion of one year

Back dating is allowed

SINGLE PREMIUM ENDOWMENT Highlights


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Death Benefit

Maturity Benefit =

Sum Assured Plus + Simple Reversionary Bonuses Plus

+ Final Additional Bonus, if any.

After Commencement of Risk Before Commencement of Risk #

Sum Assured plus vested Simple Reversionary

bonuses and final additional bonus , if any.

Return of Single Premium excluding

taxes and extra premiums, if any.

# In case the age at entry of Life Assured is less than 8 years, risk will commence either 2years from the DOC OR policy anniversary after completion of 8 years of age whichever is

earlier, for others risk shall commence immediately.

SINGLE PREMIUM ENDOWMENT PLAN


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Available after completion of 1 policy year.

Amount of loan will depend on year of Policy and Policy Term.

The maximum loan shall be granted as a*

% of S V.

Policy Year

Term 2 3 6 9 12 13 and

aboveUpto 15 yrs 55% 60% 80% 90% 90% 90%

16 to 20 yrs 40% 45% 60% 80% 90% 90%

21 yrs and above 30% 30% 45% 60% 80% 90%

* Some Examples of Loan as a percentage of Surrender Value are given below

Loan :SINGLE PREMIUM ENDOWMENT PLAN


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The policy can be surrendered at any time during the policy term.

Higher of Guaranteed Surrender Value or Special Value shall bepayable.Guaranteed Surrender Value(GSV):1st Year ~ 70 of Single Premium excluding taxes and extra premium,

if any.Thereafter ~ 90 of Single Premium excluding taxes and extra

premium, if any. Plus Surrender Value of vested bonuses.

Special Surrender Value (SSV):Discounted value of Sum Assured and vested simple reversionarybonuses

SINGLE PREMIUM ENDOWMENT PLAN


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10/31/2014 STC- HGD 8

Remember. 1. Single Premium2. Age at entry 90 day s ?3. Risk Commencement @ age 8years

4. Maturity claim :a) SA + Bonus +FAB if any5. Death Claim :

a) Before commencement of RiskRe turn of SP Taxes Extra

b) SA + Bonus * + FAB if any


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10/31/2014 STC- HGD 9

6. Loan after 1 year 30% - 90%7. Maturity age 18 to 75 years.8. Term 10 to 25 years

9. SA Min 50,000 -- Max No limit10.GSV 70% of SP Ist year Tax-Extra

- 90% of SP Tax-Extra thereafter

11. SSV - Discounted value of SA &vested bonus

12. Revival within 2 years

Remember.


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2.LICs NEW ENDOWMENT

PLAN

Table No. 814


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Table No. 14Endowment Assurance Plan

Table No.814New Endowment Plan

Maturity Benefit Maturity BenefitBasic Sum Assured along with

Vested Simple Reversionary

Bonuses and Final Additional

Bonus, if Any.

Basic Sum Assured along with

Vested Simple Reversionary Bonuses and

Final Additional Bonus, if Any.

Death Benefit Death Benefit

Sum Assured (SA) along with

Vested Simple ReversionaryBonuses and

Final Additional Bonus, if any.

Sum Assured on Death along with Vested

Simple Reversionary Bonuses and FinalAdditional Bonus, if any.

The death benefit as defined above shall not be

less than 105% of total premiums* paid as on the

date of death.

Modified Sum

Assured onDeath' insteadof SA.

Nochange

New Endowment Plan Benefits


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What is Sum Assured on Death?

Sum Assured on Death shall be Higher of ~

Basic Sum Assured (BSA)

OR

10 times Annualised Premium. (10 x AP) .

[*The premiums mentioned in death benefit are excludingtaxes, extra premiums and premiums for riders, if any ]

New Endowment Plan Benefit on Death


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ModeRebate

Table No. 14 Table No. 814

Yearly 3% of tabular Premium 2% of tabular premium

Half-yearly 1.5% of tabular premium 1% of tabular premium

Quarterly Nil Nil

Table No 14Endowment Assurance Plan

Table No. 814New Endowment Plan

Basic Sum Assured Rebate (Rs.) Basic Sum Assured Rebate (Rs.)

100001 and above 2.00 SA 5,00,000 and above 3.00 BSA

50001 to 100000 1.00 SA 2,00,000 to 4,95,000 2.00 BSA

Upto 50000 Nil


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Table No. 14Endowment Assurance Plan

Table No. 814New Endowment Plan

Available after payment of 3 fullyears premiums.

Available after payment of 3 fullyears premiums.

Loan granted shall be 90% of theSurrender Value in case of inforcepolicies and 85% of the SurrenderValue in case of Paid-up policiesirrespective of the policy term.

The maximum amount of loan thatcan be granted as a percentage ofSurrender Value shall depend onthe Policy Term , as given in thetable below.

Foreclosure action was initiated ondefault of 2 or more half-yearlyloan interest installments.

Foreclosure action shall not betaken under fully paid-up andinforce policies even if there isdefault of loan interest.

Policy Term Upto 23 24 to 27 28 to 31 32 to 35

% for inforce policies 90% 80% 70% 60%

% for Paid-up policies 80% 70% 60% 50%

% of loanmodified

LICs New Endowment Plan ~ Policy Loan


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Table No.14 Table No. 814Guaranteed Surrender Value (GSV) Guaranteed Surrender Value (GSV)

Available after payment of 3 full yearspremiums.

Available after payment of 3 full yearspremiums.

GSV shall be equal to 30% of the totalpremiums paid less First Year Premiumand extra premium, if any.

GSV shall be a percentage of totalpremiums paid (net of taxes) excludingextra premium, if any and premium paidfor riders,if opted for.Examples of GSV factors applicable fortotal premiums paidPolicy Year ~ GSV factor

3 = 30%5 = 50%

t -1 = 80% (t=Policy Term)Cash Value of vested bonuses, if any. GSV factor applicable to vested bonus, if

any. Examples of Vested bonus factors Year of SV Policy Term Factor

3 12 18.60%19 25 20.85%29 30 30%

LICs New Endowment Plan ~ Surrender Value

GSV %modified

BonusPayablemodified

NoChange


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Table No. 14

Endowment Assurance Plan

Table No. 814

New Endowment PlanSpecial Surrender Value (SSV) Special Surrender Value (SSV)

Surrender Value shall be thediscounted value of the Paid-up SumAssured and vested simple

reversionary bonuses.

Surrender Value shall be thediscounted value of the Paid-up SumAssured and vested simple

reversionary bonuses.The discount factors shall besurrender value factors as provided inTable-1A of the Special SurrenderValue Booklet and will depend uponthe policy term and duration elapsedsince the commencement of the policy.

The discount factors shall besurrender value factors as provided inTable-1A of the Special SurrenderValue Booklet and will depend uponthe policy term and duration elapsedsince the commencement of the policy.

Surrender Value Payable Surrender Value payableThe Higher of Guaranteed SurrenderValue and Special Surrender Valueshall be payable.

The Higher of Guaranteed SurrenderValue and Special Surrender Valueshall be payable.

No change in SSV

LICs New Endowment Plan


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Table No 14Endowment Assurance Plan

Table No 814New Endowment plan

A Policy may be revived within aperiod of 5 years from the date of firstunpaid premium.


Taxes, if any , were borne by thecorporation.

Taxes, if any, shall be applicable at theprevailing rates and borne by thepolicyholder as per rules.

There shall be no change in thefollowing Items

Back Dating

Grace PeriodPaid-up Value

Assignment/Nomination

LICs New Endowment Plan ~ Table No. 814


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3. LICs NEW MONEY BACKPLAN 20 Years

( Plan No. 820 )

UIN : 512N280V01


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Money Back Plan -20 yearsPlan No. 75

New Money Back Plan 20 yearsPlan No. 820

Maturity Benefit Maturity Benefit

40% of the Basic Sum Assured alongwith

Vested Simple Reversionary Bonuses and


40% of the Basic Sum Assured alongwith

Vested Simple Reversionary Bonusesand

Final Additional Bonus, if any.Death Benefit Death Benefit

Basic Sum Assur ed (BSA) along withVested Simple Reversionary Bonuses and


Sum Assured on Death along withVested Simple Reversionary Bonuses

andFinal Additional Bonus, if any.

The death benefit as defined above shallnot be less than 105% of total

premiums* paid as on the date of death .

Modification-Sum Assured onDeath' instead ofSA

LICs New Money Back Plan -20 years ~ Benefits


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125% of Basic Sum Assured (1.25 x BSA)OR

10 times Annualised Premium.(10 x AP).

[Premiums - excluding taxes, extra premiums and premiums

for riders, if any ]



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Survival BenefitPolicy Year 5th 10 th 15 th Survival BenefitPayable 20% 20% 20%

Money Back Plan -20 yearsPlan No. 75 New Money Back Plan 20 yearsPlan No. 820

Paid-up value per thousand Sum AssuredPaid up value shall be equal t o

[(Number of premiums paid/ Total

Number of premiums payable)x Basic

Sum Assured less total amount of

Survival Benefits paid under the policy.

Year Year

6,11 70 15 50

2,7,12 140 16 120

3,8,13 210 17 190

4,9,14 280 18 260

19 330

20 400


NOChange

in SB

Paid-upValue

modified


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ParticularsMoney Back Plan -20 years

( Plan No. 75)New Money Back Plan 20

years ( Plan No. 820)

Age at entry 13 to 50 years 13 to 50 years

Age at Maturity Maximum 70 years Maximum 70 Years

Policy Term 20 years 20 years

PremiumPaying Term

20 Years 15 Years

Premium mode Yearly, Half-yearly, Quarterly,Monthly (SSS or ECS)

Yearly, Half-yearly, Quarterly,Monthly (SSS or ECS)

Basic SumAssured

50,000 and above1,00,000 and above

( In multiples of 5000)

PremiumPayingtermmodified

LICs New Money Back Plan -20 years ~Eligibility Conditions and Restrictions

MinimumSumAssuredmodified


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ModeRebate

Plan No. 75 Plan No. 820



Quarterly Nil Nil




1,00,000 and above 2.00 SA 5,00,000 and above 3.00 BSA

50001 to 1,00,000 1.00 SA 2,00,000 to 4,95,000 2.00 BSA

Upto 50000 Nil 1,00,000 to 1,95,000 Nil

Slab & Ratemodified

Ratemodified

LICs New Money Back Plan -20 years ~ Rebates


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Money Back Plan -20 years

Plan No. 75

New Money Back Plan 20 years

Plan No. 820

Available after payment of 3 full year s

premiums.

Available after payment of 3 full years premiums.

Loan granted shall be 90% of the

Surrender Value in case of inforce

policies and 85% of the Surrender

Value in case of Paid-up policies.

The maximum amount of loan that can be granted

as a percentage of Surrender Value be as under:

For inforce and fully paid-up policies upto 90%

For paid-up policies 80%

Foreclosure action shall be initiated on

default of 2 or more half-yearly loan

interest installments.

Foreclosure action shall not be taken under fully

paid-up and inforce policies even if there is

default of loan interest.

% of loanmodified

LICs New Money Back Plan -20 years ~ Loan


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Guaranteed Surrender Value (GSV) Guaranteed Surrender Value (GSV)



Before Payment of Survival Benefit:GSV shall be equal to 30% of the total

premiums paid less First Year Premium andextra premium, if any.After Payment of Survival Benefit:GSV shall be 30% of the premiums paid afterthe due date on which last SB was paid lessextra premium, if any.

GSV shall be a percentage of total premiums paid (net of taxes) excluding extra premium, ifany and premium paid for riders, if opted for.Less any survival Benefits already paid.Examples of GSV factors applicable for total

premiums paidPolicy Year ~ GSV factor

3 = 30%5 = 50%

t -1 = 80% (t=Policy Term)Cash Value of vested bonuses, if any. GSV factor applicable to vested bonus, if any.

Examples of Vested bonus factors Year of SV Factor

3 16.21%10 18.16%

19 30%

GSV %

modified

BonusPayable

modified

NoChange

LICs New Money Back Plan -20 years ~ Surrender Value


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Plan No. 75


Plan No. 820 Special Surrender Value (SSV) Special Surrender Value (SSV)

Surrender Value shall be the discountedvalue of the Paid-up Sum Assured andvested simple reversionary bonuses.


The discount factors shall be specialsurrender value factors as provided in Table-1A of the Special Surrender Value Bookletand will depend upon the policy term andduration elapsed since the commencement ofthe policy.


Surrender Value Payable Surrender Value payable

The Higher of Guaranteed Surrender Valueand Special Surrender Value shall be

payable.


payable.

No change in SSV



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A Policy may be revived within aperiod of 5 year s from the date offirst unpaid premium.

A Policy may be revived within aperiod of 2 years from the date offirst unpaid premium.

Taxes, if any , were borne by the

corporation.

Taxes , if any, shall be applicable at

the prevailing rates and borne bythe policyholder as per rules.

There shall be no change inthe following Items

Back DatingGrace Period


LICs New Money Back Plan -20 years


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10/31/2014 STC- HGD 29

1.Maturity = 40%SA + Bonus = FAB

2.Sum Assured on Death has beendefined separately. i,e Higher of

a) 105% of Prem paid

b) 10 Times of APc) 125 % of BSA

3. Age at entry has not been changed

from 13-50 .4. PPT changed from 20 to 15 Years

Remember..


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10/31/2014 STC- HGD 31

8. Rebates for high SA andpremium mode modifie

9. Revival within 2 years8. Age at entry changed 12-65 to

8-559. Term Change 5-55 to 12-3510. Min SA Changed 50,000 to

1,00,00011. Modes allowed

Yly,Hly,Qty,SSS & ECS


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4. LICs NEW MONEY BACK PLAN

25 Years ( Plan No. 821 )

UIN:51278VO1


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125 of Basic Sum Assured (1.25 x BSA)

OR

10 times Annualised Premium.(10 x AP).

[*Premiums - excluding taxes, extra premiums and premiums forriders, if any ]



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Survival BenefitPolicy Year 5th 10 th 15 th 20 th SurvivalBenefit Payable 15% 15% 15% 15%

Money Back Plan -25 yearsPlan No. 93 New Money Back Plan 25 yearsPlan No. 821

Paid-up value per thousand Sum AssuredPaid up value shall be equal to

[(Number of premiums paid/ Total

Number of premiums payable)x Basic

Sum Assured less total amount of

Survival Benefits paid under the policy.

Year Year

6,11,16 62 20 90

2,7,12,17 124 21 152

3,8,13,18 186 22 214

4,9,14,19 248 23 276

24 338

25 400


NOChange inSB

Paid-upValue

modified


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ModeRebate




Quarterly Nil NilMoney Back Plan -25 years

Plan No. 93 New Money Back Plan 25 years

Plan No. 821 Basic Sum Assured Rebate (Rs.) Basic Sum Assured Rebate (Rs.)

1,00,000 and above 2.00 SA 5,00,000 and above 3.00 BSA

50001 to 1,00,000 1.00 SA 2,00,000 to 4,95,000 2.00 BSA

Upto 50000 Nil 1,00,000 to 1,95,000 Nil

Slab & Ratemodified

Ratemodified

LICs New Money Back Plan -25 years ~ Rebates


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Plan No. 93


Plan No. 821Available after payment of 3 full years

premiums.


Loan granted shall be 90% of the

Surrender Value in case of inforce

policies and 85% of the Surrender

Value in case of Paid-up policies.

The maximum amount of loan that can be granted

as a percentage of Surrender Value be as under:

For inforce and fully paid-up policies upto 90%

For paid-up policies 80%

Foreclosure action shall be initiated on

default of 2 or more half-yearly loan

interest installments.

Foreclosure action shall not be taken under fully

paid-up and inforce policies even if there is

default of loan interest.

% of loanmodified

LICs New Money Back Plan -25 years ~ Loan


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LIC N M B k Pl 25 S d V l


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Plan No. 93


Plan No. 821 Special Surrender Value (SSV) Special Surrender Value (SSV)







payable.


payable.

No change in SSV


LIC N M B k Pl 25


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Taxes, if any , were borne by theCorporation.

Taxes, if any, shall be applicable at theprevailing rates and borne by the

policyholder as per rules.


Back Dating

Grace PeriodAssignment/Nomination

LICs New Money Back Plan -25 years

R b


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10/31/2014 STC- HGD 42

1.Maturity = 40%SA + Bonus = FAB2.Sum Assured on Death has been definedseparately. i,e Higher of

a) 105% of Prem paidb) 10 Times of APc) 125 % of BSA

3. Age at entry has not been changedfrom 13-45 .

4. PPT changed from 25 to 20 Years

Remember..


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10/31/2014 STC- HGD 43

5. Min 50,000 to 1,00,000 SA6. Rebate Slab and rate changed .7.GSV percentage shall also

depend on policy term andyear of Surrender viz:Policy Year ~ GSV factor

3 = 30%5 = 50%

t -1 = 80% (t=Policy Term)

Remember..


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10/31/2014 STC- HGD 44

8. Rebates for high SA andpremium mode modifie

9. Revival within 2 years8. Age at entry changed 12-65 to

8-559. Term Change 5-55 to 12-3510. Min SA Changed 50,000 to

1,00,00011. Modes allowed

Yly,Hly,Qty,SSS & ECS


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5. LICs NEW JEEVAN ANAND

PLAN

Plan No. 815

LI s New Jeevan Anand Plan Benefits


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Jeevan AnandPlan No. 149

New Jeevan AnandPlan No. 815

Maturity Benefit Maturity BenefitBasic Sum Assured along with

Vested Simple Reversionary Bonusesand

Final Additional Bonus, if Any .

Basic Sum Assured along withVested Simple Reversionary Bonuses

and

Final Additional Bonus, if AnyDeath Benefit Death Benefit

During the policy termBasic Sum A ssured BSA) along

with Vested Simple ReversionaryBonuses and

Final Additional Bonus, if any.After expiry of policy term

Basic Sum Assured

During the policy termSum Assured on Death * along

with Vested Simple ReversionaryBonuses and

Final Additional Bonus, if any.After expiry of policy term

Basic Sum Assured

Modification-Sum Assured onDeath' instead

of BSA




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What is Sum Assured on Death? *


125 of Basic Sum Assured (1.25 x BSA)

OR

10 times Annual Premium.(10 x AP).

The death benefit as defined above shall not be less than105 of total premiums* paid as on the date of death .

[*excluding taxes, extra premiums and premiums for riders, if any ]



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Particulars Jeevan AnandPlan No. 149 New Jeevan Anand Plan No. 815

Age at entry 18 to 65 years 18 to 50 years

Age at

MaturityMaximum 75 years Maximum 75 Years

Policy Term 5 to 57 years 15 to 35 years

Premium

mode

Yearly, Half-yearly,Quarterly, Monthly (SSSor ECS)

Yearly, Half-yearly,Quarterly, Monthly (SSSor ECS)

Basic SumAssured 100000 and above

100000 and above( In multiples of 5000)

Maximum Age at

entryreduced.

Policyterm

modified

LI s New Jeevan Anand Plan Eligibility Conditions and Restrictions

LI s New Jeevan Anand Plan Rebates


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Mode RebatePlan 149 Plan No. 815



Quarterly Nil Nil

Plan No 149Jeevan Anand

Plan No. 815New Jeevan Anand


10,00,000 and above 1.75 BSA 10,00,000 and above 3.00 BSA

5,00,000 to 9,95,000 1.50 BSA 5,00,000 to 9,95,000 2.50 BSA

3,00,000 to 4,95,000 1.00 BSA 2,00,000 to 4,95,000 1.50

1,00,000 to 2,95,000 Nil 1,00,000 to 1,95,000 Nil

Slab & Ratemodified . . .

Ratemodified

Jeevan Anand Plan Rebates

LI s New Jeevan Anand Plan Loan


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Jeevan AnandPlan No. 149

New Jeevan AnandPlan No.815



Loan granted shall be 90% of the Surrender

Value in case of inforce policies and 85% of

the Surrender Value in case of Paid-up

policies irrespective of the policy term.

The maximum amount of loan that can be

granted as a percentage of Surrender Value

shall depend on the Policy Term, as given in

the table below .*

Foreclosure action was initiated on default of

2 or more half-yearly loan interest

installments.

Foreclosure action shall not be taken under

fully paid-up and inforce policies even if

there is a default of loan interest.

Policy Term Upto 23 24 to 27 28 to 31 32 to 35

% for inforce policies 90% 80% 70% 60%

% for Paid-up policies 80% 70% 60% 50%

% of loanmodified

Jeevan Anand Plan Loan

*

LI s New Jeevan Anand Plan Surrender Value


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Plan No.149 Plan No. 815Guaranteed Surrender Value (GSV) Guaranteed Surrender Value (GSV)

Available after payment of 3 fullyears premiums. Available after payment of 3 fullyears premiums.

GSV shall be equal to 30 of the total premiums paid less First YearPremium and extra premium, if any.

GSV shall be a percentage of total premiums paid (net of taxes)excluding extra premium, if any and

premium paid for riders,if opted for.Examples of GSV factors applicable

for total premiums paidPolicy Year ~ GSV factor

3 = 30%5 = 50%

t -1 = 80% (t=Policy Term)

Cash Value of vested bonuses, if any. GSV factor applicable to vestedbonus,if any. Examples of Vestedbonus factors Year of SV Policy Term Factor

3 15 17.66%19 25 20.85%29 30 30%

GSV %modified

No Change

Jeevan Anand Plan Surrender Value

LI s New Jeevan Anand Plan Surrender Value


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Jeevan Anand

Plan No. 149

New Jeevan Ananad

Plan 815Special Surrender Value (SSV) Special Surrender Value (SSV)



The discount factors shall be surrender valuefactors as provided in Table-1A and2A(whole life) of the Special SurrenderValue Booklet and will depend upon the

policy term and duration elapsed since thecommencement of the policy.

The discount factors shall be Specialsurrender value factors as provided in Table-1A and 2A(Whole life) of the SpecialSurrender Value Booklet and will dependupon the policy term and duration elapsedsince the commencement of the policy.



payable.


payable.

No change in SSV

Jeevan Anand Plan Surrender Value


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LICs New Bima Bachat Plan


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Bima Bachat Plan

Plan No. 175

New Bima Bachat plan

Plan No. 816

Maturity Benefit Maturity Benefit

Single Premium Paid along with

loyalty addition less extrapremiums ,if any .

Single Premium Paid along with loyalty addition

less Taxes and extra premiums ,if any

Death Claim Benefit Death Claim Benefit

Payment of Sum Assured First 5 years:

Sum Assured shall be payable.

After completion of 5 years:

Sum Assured and Loyalty Additions, if any

shall be payable .

LIC s New Bima Bachat Plan Benefits

Death Benefit

Modified

LICs New Bima Bachat Plan - Benefits


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Year->Term

SURVIVAL BENEFIT

(as a percentage of Sum Assured

)3RD 6 TH 9TH 12 TH 15th

9 15% 15% MAT XXX

12 15% 15% 15% MAT

15 15% 15% 15% 15% MAT

LIC s New Bima Bachat Plan Benefits

There is no change in the percentage of Survival Benefit payable under

Bima Bachat Plan 175 and New Bima Bachat Plan - 816

No Changein SB



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Particulars

Description

Plan No 175Bima Bachat Plan No. 816New Bima Bachat

Age atentry

15 to 66 yearsirrespective of thepolicy term

Minimum Maximum

15 yearsTerm = 9 Term = 12 Term = 15

66 yrs 63 yrs 60 yrs

Age atMaturity

Maximum75 Years Maximum 75 Years

PolicyTerm 9 , 12 and 15 years 9 , 12 and 15 years

Basic SumAssured

Minimum 20000 andin multiple of Rs

5000 No upper limit

Minimum Maximum

Term = 9 Term = 12 Term = 15 Term = 9/12/15

35000 50000 70000No upper LimitSA shall be in

multiple ofRs.5000

Eligibility Conditions and Restrictions

Age at Entryand SA based onpolicy term



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New Bima Bachat

Plan 816PolicyTerm Sum Assured Band

% ofTabular

Premium

9

years

Less than 75000 Nil

75000 to less than 150000 6%

150000 and above 8%

12years

Less than 100000 Nil

100000 and less than200000 4%

200000 and above 6%

15years

Less than 150000 Nil

150000 and less than300000 3%

300000 and above 5%

High Sum Assured Rebate

Bima Bachat Plan No. 175

PolicyTerm

Sum AssuredBand

% ofTabular

premium

Policy

term 9,12 and15 years

Less than50000 Nil

50000 and lessthan 100000 5%

100000 andless than200000

7%

200000 And above 8%


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LICs Ne Bima Bachat Plan Loan


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LICs Bima Bachat

Plan No 175

LICs Bima Bachat

Plan No. 816

Loan available after payment of first

premium.

Loan facility available after completion

of 1 policy year

Loan can be granted upto 90% of the

Special Surrender Value

Loan can be granted upto 60% of

Surrender Value.

LICs New Bima Bachat Plan - Loan

Loan ~Modified



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Table No 175

Bima Bachat Plan

Table No 816

New Bima Bachat PlanService Tax was borne by thecorporation.

Service Tax shall be applicable at theprevailing rates and borne by thepolicyholder as per rules.


Back Dating

Paid-up Value


LIC s New Bima Bachat Plan


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LICS NEW JEEVAN

NIDHIPLAN NO. 818

LICS NEW JEEVAN NIDHI HIGHLIGHTS


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LICS NEW JEEVAN NIDHI - HIGHLIGHTS

1. Life Protection ~Insurance Cover upto Date of Vesting

2. Pension ~Option To purchase an Immediate Annuity

orTo purchase New Single Premium DeferredPension Plan

3. Guaranteed Additions ~For the first 5 years @ Rs.50 Basic SumAssured


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1. Participation in Profits ~After 6th policyyear, benefit of Vested Bonus and FinalAdditional Bonus (if any).

2. Flexibility ~ Premium PaymentFrequency-Single Premium, Yly, Hly, Qly,Mly(ECS/SSS)

3. Customisation Option for Accident Benefit Rider underRegular Premium Policies only. Min SA ischanged from Rs 25000 to Rs 100,000

LICS NEW JEEVAN NIDHI

Eligibility Conditions and Restrictions


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Eligibility Conditions and RestrictionsDescription Minimum Maximum

Age at Entry 20 years 60 years under SP

20 years 58 years under RP

Age at Vesting 55 years 65 years

Deferment period 5 years for SP7 years for RP 35 years

Sum Assured

Single PremiumRs.150000/-

No LimitRegular Premium

Rs.100000/-The Sum Assured under Basic Plan shall be inmultiples of Rs.5000/

Premium Mode Single Premium, Yearly, Half-yearly, Quarterly,Monthly [ECS or SSS]

LICS NEW JEEVAN NIDHI BENEFITS


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LICS NEW JEEVAN NIDHI - BENEFITS

Benefit on Vesting

Basic Sum Assured+

Accrued Guaranteed Additions+

Vested Simple Reversionary Bonuses&Final Additional Bonus(if any)

Commute as per Income Taxrules and purchase ImmediateAnnuity with the balance amountat the then prevailing Immediateannuity rate

Purchase a new SinglePremium deferredpension product fromLIC



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Basic Sum Assured+

Accrued GuaranteedAdditions

Basic Sum Assured+

Accrued Guaranteed Additions+

Vested Bonuses & FAB (if any)

First 5policy years

6th yearonwards

Death Benefit


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The death benefit as definedabove shall not be less than 105%of total premiums* paid as on thedate of death

The Benefit shall be paid to the nominee aslump sum ORIn the form of Annuity ORPartly in lump sum and balance in theform of Annuity at the then prevailingImmediate annuity rates



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Guaranteed Additions :Payable for the first five years @ Rs.50/- per thousandBasic Sum Assured for each completed year.

Participation in profits :Simple Reversionary Bonus shall be added from the6th policy year onwards till the end of the defermentperiod and at such rates as may be declared by theCorporation.

Final Additional Bonus shall be payable either onvesting or on earlier death at the rates declared by theCorporation.


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WHY LICS NEW JEEVAN NIDHI !!!


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Jeevan Nidhi meets all your needs across thetime horizon-1. Life cover now and Pension afterwards!

2. Life Insurance cover till the date ofvesting-For the well-being of your lovedones!

3. And Annuity/Pension after vesting-Foryour well-being in later years!!!

WHY- LICS NEW JEEVAN NIDHI !!!


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10/31/2014 STC- HGD 73


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LIC New Plans One Ppt 2014

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