1. NEW BIMA GOLD [ Table 179 ] MONEY BACK PLAN WITH LOYALTY ADDITIONS
A PRESENTATION BY
AMRITSAR DIVISION

2. It has been decided to re-launch New Avatar of LIC ’s ‘Golden Jubilee Policy’ - Bima Gold (Close Ended Plan No. 174) i.e. ‘New Bima Gold’ (Open Ended Plan No. 179)
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This is a money back type plan where total premiums paid under the policy shall be paid back to the policyholder in installments at the specified durations in case of survival and Sum Assured shall be paid in case of death during the term of the policy irrespective of whether or not any survival benefits have been paid earlier.

3. New Avatar Features OPEN ENDED PLAN
Extended Term: The Extended Term will be half of the policy term and shall commence immediately on the expiry of the policy term. For example, for a 16 years policy term, the Extended Term will be 8 years with the result the total term will be 24 years. No premiums are payable during the Extended Term of the plan.
Reduced Premium Rates & Rebates
Revised Terms & Maturity Age

4. Benefits:
Death Benefit: On death of the Life Assured during the term of the policy, an amount equal to Sum Assured and 50% of the Sum Assured during the extended term, provided the policy is in force.
Maturity Benefit: Total amount of premiums (excluding extra/optional rider premiums, if any) paid plus Loyalty Additions, if any, less the amount of survival benefits paid earlier, shall be payable in case of Life Assured surviving to the end of the term provided the policy is in full force.

5. Benefits:
Survival Benefit: In case the life assured is surviving to the end of the specified durations, the following benefits shall be payable provided the policy is in full force.
For policy term 12 years : 15% of the Sum Assured under Basic Plan at the end of each 4th & 8th policy year
For policy term 16 years : 15% of the Sum Assured under Basic Plan at the end of each 4th, 8th &12th policy year
For policy term 20 years : 10% of the Sum Assured under Basic Plan at the end of each 4th, 8th, 12th & 16th policy year

6. Loyalty Additions:
This is a with-profits Plan and the policy shall participate in the profits of the Corporation’s with-profits assurance business. The policy shall, however, be eligible to a share of profits in the form of Loyalty Addition (one time) only payable on maturity. On the Life Assured surviving the stipulated date of maturity, the policy may be eligible for payment of Loyalty Addition, if any, depending upon the experience of the Corporation at such rate and on such terms as may be declared by the Corporation.

7. Auto Cover Facility:
If at least two full years’ premiums have been paid in respect of this policy, any subsequent premium be not duly paid, full death cover shall continue for a period of two years from the date of First Unpaid Premium (FUP). This period of 2 years from FUP shall be called Auto-Cover period.
During the Auto-Cover period, one or more installments of premiums can be paid along with interest without any revival requirements.
On revival or payment of part/full arrears of premiums during Auto-Cover period, the date of FUP will shift and accordingly the Auto-Cover facility shall again be available for two years from the date of revised FUP.

8. Rider Options:
Accident Benefit Rider shall be available as an optional benefit for a premium at the rate of Rs.1 per thousand Accident Benefit Rider Sum Assured. Accident Benefit Rider shall be available for an amount not exceeding the Sum Assured under the Basic Plan subject to an overall limit of Rs.50 lakh taking all existing policies of the Life Assured under individual as well as group schemes including policies with in-built accident benefit taken with Life Insurance Corporation of India and other insurance companies and the Accident Benefit Rider Sum Assured under the new proposal into consideration. NOT AVAILABLE DURING THE EXTENDED TERM.

9. Miscellaneous:
LOAN Available after the policy acquires paid-up value (at least three full years’ premiums have been paid).
SURRENDER VALUES (GSV,SSV) If at least three full years’ premiums have been paid, the GSV is equal to 30 per cent of the total amount of premiums paid excluding the premiums for the first policy year, all extra premiums paid, the premiums paid for Accident Benefit Rider and the amount of survival benefits paid earlier.
Special Surrender Value will be calculated using the surrender value factors as applicable in the case of Endowment Plan and paid-up value as defined above.
GRACE PERIOD FOR PAYMENT OF PREMIUM
COOLING-OFF PERIOD
BACK DATING INTEREST Back- dating interest will be charged at the prevailing rate at the time of completion of policy for dating back in excess of one month.

10. High Sum Assured Rebates:
Rebates/Incentives:
Mode Rebate / Extra:
Rebates are available at the following rates:
Yearly mode : 2% of tabular premium
Half-yearly mode : 1% of tabular premium
Quarterly and SSS : NIL
Monthly mode :5% extra on tabular premium
High Sum Assured Rebates:
Less than Rs.1 Lac : NIL
1 Lac & Less than 2 Lac : Rs.5.00 per 000 SA
Rs.2 Lac and above : Rs.7.50 per 000 SA
CEIS REBATE: The rebate shall 10% of the Tabular Premium for the basic plan.

11. Eligibility Conditions
Entry Age: Minimum 14 Years LBD; Maximum 57 Yrs NBD (Term 12), 51 Yrs NBD (Term 16) & 45 Yrs NBD (Term 20)
Max Age at Maturity : 75 years NBD
Term : 12, 16 or 20 Yrs.
Min Sum Assured : Rs.40,000 /-
Max Sum Assured : No limit
Sum Assured will be in multiples of Rs.5000 /- only.

12. Commission & Credit Agents, Corporate Agents:
1st Year 2nd & 3rd Year Renewal
15% 7.5% %
Bonus Commission : 40% of 1st year commission.
Brokers:
1st Year Renewal
20% %
No Bonus Commission shall be paid to the Brokers.
Development Officers’ Credit:
For term 12 years : 60%
For terms 16 and 20 years : 100%

13. GOLD – Low Cost Money Back [Comparative Cost of Insurance – Tabular Rates Rs.1000 SA]
While making a comparison the fact regarding the VERY HIGH REBATES for the Sum Assured above 1 Lac MUST be kept in mind.
PLAN >>>
75-20
174-20
179-20
Age 15
64.95
41.75
40.40
Age 20
65.15
42.25
41.20
Age 25
65.70
42.85
42.30
Age 30
66.80
44.00
44.20
Age 35
68.70
46.45
47.55
Age 40
71.85
50.40
52.75
Age 45
76.70
56.15
60.15
Age 50
83.90
64.25

14. Illustration I-Low Cost Money Back
First among the Equals
Illustration I-Low Cost Money Back
Comparison with Popular (Age 15, Std. Life)
Items of Comparison
Sum Assured Lac Lac
Yearly Premium
SB I
SB II
SB III
SB IV
Maturity Bonus+FAB LA
[ FAB] [68360+LA]
Valuation G V V G V
RISK COVER Lac Lac
‘G’–Guaranteed; ‘V’-Variable

15. Illustration II-More Value in Lesser Cost
Other Point of View
Illustration II-More Value in Lesser Cost
Comparison with Popular (Age 15, Std. Life)
Items of Comparison
Sum Assured Lac Lac
Yearly Premium
SB I
SB II
SB III
SB IV
Maturity Bonus+FAB LA
[ FAB] [ LA]
Valuation G V V G V
RISK COVER Lac Lac
‘G’–Guaranteed; ‘V’-Variable

16. Other Possibilities
‘GOLDEN ANAND’ Term Assurance Money Back with Return of Premium with Free Risk Cover After Maturity: Offer the Plan-179 for Equal SA under Plan-75 & Purchase an add on Plan-149 for Balance Amount of Premium
‘स्वयं सिद्ध’ – LIC’s Self Reliant Policy: Auto Financing of the Premium after 4 Years from the SB Payments

17. ‘GOLDEN ANAND’ Illustration III
COMBI PLAN Yrs (Age 25, Std. Life)
SA 2 Lac 2 Lac 1 Lac
Premium
SB I
SB II
SB III
SB IV
Maturity B+F LA 1 Lac+B
[ F L ]
RISK 2 Lac [4] 2 Lac [4] 1 Lac [2]
FREE Lac 1 Lac [2]

18. Benefits - Golden Anand
Low Cost
Free Life Risk Cover after Maturity (T-149 as well as T-179)
Early Survival Benefits (T-179)
More Number of the SB’s
Return of Premium + LA (T-179)
Maturity Value (T-149)
More Risk Cover (150%)
More Guaranteed Amount
Loyalty Addition – Better Prospects
S V in lieu of ‘Free Cover’ (T-149)

19. ‘Swyam Siddha’ LIC’s Self Reliant Policy
Age 25; ; Mode Yearly
Premium
Tax Saving 20% % 2097
Net Premium
4 Yr Prem
SB I
Loss/Gain (-) (+)
The example proves that after the premiums are paid for First 4 Years and the SB is received the policy can be financed from the SB amount.

20. USP’s of ‘Bima Gold’
NEW AVATAAR OF PLAN LAUNCHED BY THE PRIME MINISTER
EVEN LOWER COST – Janta Money Back
BEST OF ALL – ‘Bima Kiran’, ‘Jeevan Saral’, ‘Money Back’ & ‘New Jana Raksha’
NO CROSS SUBSIDY – No Exit Loading
ATTRACTIVE HIGH SA REBATES – High End Customer Benefited
RETURN OF PREMIUM - Element of Guarantee Increased
PARTICIPATING LOYALTY ADDITIONS

21. USP’s of ‘Bima Gold’ HIGHER AGE – Return of Premium Same
FULL RISK COVER FOR FULL TERM & 50% OF SA DURING EXTENDED TERM (FREE)
COOLING OFF OPTION
AUTO COVER FACILITY & MONEY BACK IN TERM ASSURANCE PLAN
FLEXI TERMS – 12, 16 & 20 Years
EARLY SURVIVAL BENEFITS [4, 8, 12 & 16]
OPTIONAL RIDERS – DAB, Disability
POLICY LOAN AVAILABLE

22. Let’s give our
BEST
to the organisation
THANKS