Term Insurance / Whole Life / Endowment Plans Sangharakshit.M. Shende Development Officer,LIC of India, Mumbai

CONCEPT OF PROFIT 10,000 standard lives -- All aged Mortality Rate Only Death Risk to be covered for a period of 1 year. On Death – Rs.1,00,000/- payable to nominee. What is the Premium payable by each member? Is it Rs.340/- or Rs.400/- or Rs.500/- ???

TERM INSURANCE PLANS A)TERM INSURANCE WITHOUT PROFIT PLANS T-164 Anmol Jeevan (without profit) T-190 Amulya Jeevan (without profit) T-43 Two Year Temporary Assurance Plan (without profit) T-52 The Mortgage Redemption Assurance Plan (without profit) T-58 The Convertible Term Assurance Plan (without profit) B)TERM INSURANCE WITH PROFIT PLANS : NIL

WHOLE LIFE A) Whole Life Without Profit Plans :- NIL B) Whole Life With Profit Plans :- T-2 : Whole Life With Profit. T-5 : Limited Payment Whole Life With Profit. T-8 : Single Premium Whole Life With Profit. a) Concept of Maturity Age in Whole Life plans. b) Concept of Limited Payment under Table-2.

ENDOWMENT PLANS A)Endowment Without Profit Plans : NIL B)Endowment With Profit Plans : T-14 : Endowment Assurance With Profit. T-88 :Jeevan Mitra(Double Cover Endowment Plan With Profit). T-133 :Jeevan Mitra(Triple Cover Endowment Plan With Profit). T-89 :Jeevan Saathi(Double Cover Joint Life Profit Plan). T-90 :Marriage Endowment/Education Annuity Plan With Profit. T-91 :New Jana Raksha Plan With Profit. C)Limited Payment Endowment With Profit Plans : T-48 :Limited Payment Endowment Assurance Plan With Profit T-162 :New Jeevan Shree-1(With Profit) T-167 :LIC’s Jeevan Pramukh(With Profit) T-186 :Jeevan Amrit(With Profit) T-171 :Bima Nivesh-2005(Single Prem.Endowment With Profit Plan )

ENDOWMENT PLANS(CONTD.) Table-48 : Limited Payment Endowment Assurance Plan With Profit Policy TermPremium Paying Term 10years5y 15years5y/10y 20years5y/10y/15y 25years5y/10y/15y/20y 5y/10y/15y/20y/25y/30y/35y/40y /45y/50y Single Premium