Jeevan Tarang (Whole Life Policy)

Introduction: This is a with-profits whole of life plan which provides for annual survival benefit at a rate of 5½ % of the Sum Assured after the chosen Accumulation Period. The vested bonuses in a lump sum are payable on survival to the end of the Accumulation Period or on earlier death. Further, the Sum Assured, along with Loyalty Additions, if any, is payable on survival to age 100 years or on earlier death.

Accumulation Period : The plan offers three Accumulation periods – 10, 15 and 20 years. A proposer may choose any of them.
Payment of Premium: Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly intervals or through salary deductions over the Accumulation Period. Alternatively, a Single Premium can be paid on commencement of a policy.

Sample Premium Rates:The tables below provide tabular premiums for various age-term combinations for Rs. 1000/- Sum Assured.



Survival Benefits:
On survival to the end of the selected accumulation period: Vested reversionary bonuses in a lump sum will be payable.
On survival to the end of each year after the accumulation period: 5½% of the Sum Assured will be payable. The first survival benefit will be payable on survival to one year after the end of the accumulation period.

Maturity Benefit: On survival to the policy anniversary coinciding with or immediately following the completion of age 100 years, the Sum Assured along with Loyalty Addition, if any, will be payable.
Death Benefit:
In case of death of the Life Assured during the Accumulation Period, the Sum Assured along with vested reversionary bonuses is payable.
In case of death of the Life Assured any time after the Accumulation Period, the Sum Assured along with Loyalty Addition, if any is payable.

Anmol Jeevan (HIGH RISK LOW PREMIUM)

Jeevan Anmol is basically a high risk and low premium policy.
Benefits:
______On Death during Term of the policy: Sum Assured.
______On Maturity: Nil

Min/Max Age At Entry: 18/55 Yrs
Min/Max Sum Assured: Rs.5,00,000/Rs. 3,00,00,000 (Inclusive of all Term Assurance plans)

Note : The policy would be issued in multiples of Rs. one lakh for Sum Assured above Rs. five lakh.

Komal Jeevan (Children Money Back)

Age Limit of child: 0 to 10 (COMPLETED)
________Term: 16 to 26 (depends on child's age)
_Min / Max S.A.: Rs.1,00,000 / Rs. 25,00,000/-

Note: Premium paid by the Parent can avail Income Tax Concession under 88 A

Speciality: Rs.75/- per thousand per year guaranteed return
Avail "premium waver". (what is this ?)If Mr.X avail this option (premium waver) all benefits remain the same but after death of Mr.X, premiums are waved till maturity or its payment ceased / stopped.



CASH FLOW CHART
Life assured attains the age of _____Return From LIC
_____18____________________20% of S.A.
_____20____________________20% of S.A.
_____22____________________30% of S.A.
_____24____________________30% of S.A.

Death Benefit:
In case of death of the life assured before the commencement of risk, the policy shall stand cancelled and premiums paid (excluding the Premium for Premium waiver Benefit ) under the policy will be refunded. However, if death occurs after the commencement of risk but before the policy matures, the full Sum Assured plus Guaranteed Additions together with Loyalty Additions, if any, is payable.
Maturity Benefit:
The Guaranteed Additions together with Loyalty Additions, if any, is payable in a lump sum on survival to the end of the policy term.

Jeevan Surbhi (Money Back)

Jeevan Surbhi (Money Back)
Age Limit : 14 to 55
Minimum S.A.: Rs.40,000/-
Maximum S.A.: No Limit
Term : 15, 20 And 25 Years

Speciality: RISK COVER INCREASES BY 50% AFTER EVERY 5 YEARS.

Age considred 30 yrs, S.A. Rs. 1 Lac
25 Years Policy : Premium to be paid for 18 years
Premium Yearly :Rs.8,145/- and from Salary Rs.700/-

20 Years Policy : Premium to be paid for 15 Years
Premium Yearly :Rs.9,130/- and from salary Rs.784/-

15 Years Policy : Premium to be paid for 12 years
Premium Yearly :Rs.10,672/- and from salary Rs.917/-

Benefit Illustration : Mr. XYZ has taken policy on 8/02/2003 of Sum Assured Rs.One lakh Term:20Yrs Premium: 9003 Yearly




Projected CASH FLOW
Due Date____Return from LIC____ Bonus
8/02/2007 ___ _25000 __________Nil
8/02/2011 _____25000 __________Nil
8/02/2015 _____25000 __________Nil
8/02/2018 _____25000 __________Nil
8/02/2023 _____89640 _________87200

Jeevan Anand (Endowment + Whole Life)

Jeevan Anand

FeaturesIn order to give wider choice to our customers, it has been decided to introduce with effect from 1 February, 2002, ‘Jeevan Anand’, a With Profit Assurance Plan. Basically, the plan is a combination of the Whole Life Plan and the most popular Endowment Assurance Plan. The plan provides the pre-decided Sum Assured and Bonuses at the end of the stipulated premium paying term, but the risk cover on the life continues till death. Moderate Premiums High bonus High liquidity Savings oriented. Premiums are usually payable for the selected term of years or until death if it occurs during the term period. This policy not only makes provisions for the family of the Life Assured in event of his early death but also assures a lump sum at a desired age. The lump sum can be reinvested to provide an annuity during the remainder of his life or in any other way considered suitable at that time.
Suitable For:Being an endowment assurance policy, this plan is apt for people of of all ages and social groups who wish to protect their families from a financial setback that may occur owing to their demise. The amount assured if not paid by reason of his death earlier will payable at the end of the endowment term where it can be invested in an annuity provision for the rest of the policyholder's life or in any other way he may think most suitable at that time.