sunil ram. dev officer, manjeri new arrivals lic’s jeevan sangam (plan no.831) lic’s new...

Sunil Ram . Dev officer, Manjeri

NEW ARRIVALS

LIC’s JEEVAN SANGAM (Plan No.831)

LIC’s New Children’s Money Back Plan (Plan No.832)

Limited sale period only


LIC’s JEEVAN SANGAM

With profit “SINGLE PREMIUM” plan

ONLY 90 DAY SALE PERIOD

Sale Closes On 1ST June 2015.

PLAN NUMBER 831



TERM ONLY 12 YEARS

Select: MATURITY SUM ASSURED Minimum = 75000

Maximum = No limit (Multiples of 10000)

Premium: Calculated on Maturity Sum Assured

Risk Sum Assured : Premium (without Service Tax & Extras) X 10

Age: Minimum = 6yrs (completed) Maximum = 50 yrs

Plan No.831


LIC’s JEEVAN SANGAMDEATH BENEFIT

If Death happens BEFORE Commencement of RiskRefund of premium (excluding Serv. tax and extras) Risk commences from one day before age 8 years.

If Death happens WITHIN FIVE yearsRisk Sum assured Only

If Death happens AFTER FIVE yearsRisk Sum assured + Loyalty

Plan No.831



MATURITY BENEFIT

Maturity Sum assured + Loyalty

Plan No.831


LIC’s JEEVAN SANGAMPlan No.831


JEEVAN SANGAMPlan No.831


LIC’s JEEVAN SANGAMPlan No.831

Policy year maximum Loan Amount as a % of surrender value for age at entry upto 45

maximum Loan Amount as a % of surrender value for age at entry above 45

*3 month to 3rd year

55% 40%

4th to 6th 70% 45%7th to 9th 80% 65%10th to 12th 90% 90%

LOANS

Available after 3 Months from D.O.C


JEEVAN SANGAMPlan No.831



Plan No.831



COMMISSION

2 % without Bonus

Plan No.831

ONLY 90 DAYS


LIC’s NEW CHILDREN’S MONEY BACK

Plan No.832



Plan No.832

Money back plan

With-profits

Regular premium payment


Entry Age: 0 yrs to 12 yrs (Last Birthday)

Eligibility


Plan No.832

Maturity Age: 25 Yrs

Policy Term : 25 Minus Entry age

Minimum SA : Rs.(100 ) in “000”s

Maximum SA : No limit ( in multiples of 10,000)

Modes : YLY, HLY, QLY, ECS, SSS



Plan No.832RISK COMMENCES

1 day before completion of 2 years from D.O.C

OR

1 day before Policy anniversary coinciding /after completing Age 8

Whichever is “ Earlier “


Death Benefit


Plan No.832

Before Risk commences

Refund of premiums excluding riders, taxes and extra premium

After Risk commences

Basic Sum assured + Bonus + Final additional Bonus

Suicide Within one year from Risk commencing date

80% of premium paid excluding taxes and extras


POLICY PROCEEDS


Plan No.832

On policy anniversary after age 18



20% of Basic Sum Assured



Survival Benefit

Maturity Benefit

On policy anniversary after age 25 40% of Basic Sum Assured + BONUS + Final additional Bonus







Survival Benefit


Special Feature


Plan No.832

Option to defer the Survival Benefit:

LIC will pay increased SB if SB is deferred ..

as per the formula…

SB % * Sum Assured * Factor applicable to Survival Benefit (s)

To exercise this option policyholder Should Intimate in writing six months before the due date of the Survival Benefit (s)


Riders


Plan No.832

Premium Waiver Benefit

Opt able at Inception or any time during policy term.

Minimum outstanding term should be 5 years

Maximum age for opting PWB is 55 yrs

Not applicable if commits suicide within 1 year of D.O.C

Waiver of Future Premiums on death of the proposer



Plan No.832Surrender

Loan

Revival

Permitted after 3 years from D.O.C

No Surrender value for PWB Rider

Permitted after 3 years from D.O.C For in force policies – upto 90% of Surrender valueFor paid-up policies – upto 80% of Surrender Value

Should be done within 2 Consecutive years from First unpaid premium


Mode

Yearly mode : 2% of tabular premiumHalf-yearly mode : 1% of tabular premiumQuarterly and monthly : NIL

High Sum Assured

Basic Sum Assured Rebate (Rs.)1,00,000 to 1,90,000 : Nil2,00,000 to 4,90,000 : 2 per thousand Basic Sum Assured5,00,000 and above : 3 per thousand Basic Sum Assured

Discounts


Plan No.832


Commission


Plan No.832

Policy Term 1st Year 2nd & 3rd Year Sub. Years

13 and 14 years 20% 7.5% 5%

15 years and above 25% 7.5% 5%

Bonus Commission = 40% of First year Commission

sunil ram. dev officer, manjeri new arrivals lic’s jeevan sangam (plan no.831) lic’s new...

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