PPT On New PLans

LIC’s NEW ENDOWMENT PLAN TABLE NO. 814

Table No 814-New Endowment (1 ) Age at entry has been reduced :(8 yrs to 55 yrs ). (2) Policy term modified : ( 12 to 35 yrs ) . (3) Min Sum assured is : ( 1 Lac) . (4) All modes of Prem Payment : ( allowed ) . (5 ) Maturity benefit :– No change . (6) Death benefit : –BSA or 10 times of annualized Prem , whichever is higher + Bonus+ FAB ( death benefit will not be less than 105% of total Prem Paid) (7) Loan / SV : ( Not much change ) . (8) Revival : ( within 2 yrs of FUP ) . (9) Service Tax – to be born by Policyholder.

Other Important Points (1 ) Agents commission:– Policy term 1st yr 2 & 3 yr Subsequent yr 12 to 14 20% 7.5% 5% 15 & above 25% 7.5% 5% Bonus commission :- 40% of 1st yr comm . (2) DOs credit :- 12 to 14 yrs term – 60% 15 yrs & above term – 100% (3) Lower ages Prem slightly increased . (4) Higher ages and Max term: ( Prem less even after inclusion of S.tax hence return in higher ages improved) .

Gist of Premium rate comparison between Table 14 & 814 Premium Reduced in Plan 814 From Age 44 to 55 Yrs. premium rates have reduced for Any Term. For Term 34 and above premium rates reduced FIRST Time at Age 24. Highest reduction in premium rate is 9.65 per thousand S.A. at Age 55 for term 20 Yrs. Premium Increased in Plan 814 Highest increase at Age 20 & 21 for Term 12 Yrs. by 1.90 per thousand S.A.

LIC’s NEW MONEY BACK PLAN TABLE NO. 820 & 821

NEW MONEY BACK PLANS TABLE 820 & 821 PARTICULAR PLAN 820 – NEW MONEY BACK 20 YEARS PLAN 821 – NEW MONEY BACK 25 YEARS ENTRY AGE 13-50 YEARS 13-45 YEARS MAX MTY AGE 70 YEARS 70 YEARS POLICY TERM 20 YEARS 25 YEARS PREM. PAYING TERM 15 YEARS MIN. S.A. 1,00,000 SURVIVAL BENEFIT 20% OF SA AFTER 5TH , 10TH & 15TH YEAR 15% OF SA AFTER 5TH , 10TH 15TH & 20TH YEAR

NEW MONEY BACK PLANS TABLE 820 & 821 PARTICULAR PLAN 820 – NEW MONEY BACK 20 YEARS PLAN 821 – NEW MONEY BACK 25 YEARS MATURITY BENEFIT 40% OF SA + BONUS+FAB DEATH BENEFIT 1.25XBSA OR 10XANNUALISED PREM, WHICHEVER IS HIGHER + BONUS + FAB (DEATH BENEFIT WILL NOT BE LESS THAN 105% OF PREM PAID) LOAN/S.V. AVAILABLE AFTER 3 YEARS REVIVAL WITHIN 2 YEARS OF FUP SERVICE TAX BY POLICY HOLDER

20yrs & 25 yrs new money back ( Plan-820& 821 (1 ) Some favourable points:– i) Min S.A is now 1 Lac . ii) No Prem to be paid for last 5 yrs of the policy term . iii) Total Prem to be paid is lower than earlier . iv) Commission rate of agents :- 1st yr 2 & 3 yrs subsequent yrs 20% 7.5% 5% Bonus commission:- 40% of 1st yr commission . DOs credit :- full .

LIC’s NEW JEEVAN ANAND TABLE NO. 815

New Jeevan Anand Policy (Plan-815) (1 ) Age:– 18 to 50 yr (earlier upto 65 yrs). (2) Max. Mty age: –75 yrs (same as earlier) (3) Term: 15 to 35 yrs (earlier 5 – 57) (4) Mode: all modes allowed. (5) Min SA: 1 Lac (same as earlier) (6) Mode rebate: 2% for Yly, 1% for Hly (reduced) (7) High SA rebate: 1.50%0 to 3%0 BSA (increased) (8) Mty Benefit: BSA+Bonus+FAB. (9) Death Benefit: i)During policy term –(1.25*BSA or 10*annual Prem (whichever is higher) + Bonus+FAB) ii) After expiring policy term- (Basic SA) (Death benefit will not be less than 105% of total Prem paid (less taxes) as on date of death) .

New Jeevan Anand Policy (Plan-815) (10) Accident Benefit : Available as a rider (earlier inbuilt upto 5 lacs) (11 ) Loan:– After 3 yrs ( 60% to 90% of SV ) (12) SV: –After 3 yrs (13) Revival: Within 2 yrs of FUP (14) Service tax: To be born by policy holder.

LIC’s NEW BIMA BACHAT TABLE NO. 816

New Bima Bachat Policy (Plan-816) (1 ) Age:– 15 to 66 (max maturity age 75 yrs). (2) Term : Same 9yrs – 12yrs – 15yrs (2) Min S.A: – 35,000 -- 50,000 -- 70,000 (4) Survival benefit: same 15% of SA after every 3 yrs. (5) Maturity benefit: same as earlier. Refund of Premium ( excluding taxes) plus loyalty addition . (6) Death benefit: (i ) upto to 5 yrs – Basic SA (ii) after 5 yrs - Basic SA+ LA (7) High SA rebate: based on term & SA band. (8) S.V available at any time : earlier after 1 yr. (9) Loan available after 1 year: earlier immediately . (10) Service tax to be born : by policy holder .

PREMIUM COMPARISION AGE TABLE/TERM S.A. SINGLE PREM. 40 816-12 50000 40197 175-12 37062 45 100000 77901 73247 50 200000 154398 146814

LIC’s NEW SINGLE PREMIUM ENDOWMENT PLAN TABLE NO. 817

Single Premium Endowment (Plan-817) (1 ) Age:– 90 days to 65 yrs (n.b.d). (2) Mty age: –18 to 75 yrs (3) Term: 10 to 25 yrs (4) Min SA: 50,000 (5) Risk date: i) If age less than 8 yrs risk will start either after 2 yr from DOC or policy anniversary after completion of 8 yrs of age whichever is earlier. ii) Age 8 yrs & more – from DOC (6) Maturity benefit: SA+Bonus+FAB if any. (7) Death benefit:(i)before risk date–Return of Prem excluding S. tax (ii)after risk date- SA+ Bonus+FAB if any (8) Loan: available after 1 yr.( 30 to 90% of SA depending upon policy term & duration) (9) S.V value: any time during term. (10) Service tax to be born : by policy holder .

Why? LIC Single Premium Endowment Plan S:– Single premium- one time investment . P:–Protection – Risk cover for full Assured . E: Excellent for meeting educational needs of young ones . C: Children from the age of 90 days can be covered . I: Ideal for investment planning. Wide range of policy term . A: Attractive – participates in profits . L :Liquidity through loan . Best for Reinvestment of ULIP SV

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