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LIC of India presents New Janraksha (Plan No. 91)

LIC of India presents New Janraksha (Plan No. 91). Attractions. Accident Benefit available without payment of any extra premium. A novel plan for both the Rural Folk as well as the Urban Middle Class. Intro Features Benefits illustrations.

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LIC of India presents New Janraksha (Plan No. 91)

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  1. LIC of India presents New Janraksha (Plan No. 91)

  2. Attractions Accident Benefit available without payment of any extra premium A novel plan for both the Rural Folk as well as the Urban Middle Class Intro Features Benefits illustrations Unique feature of extended risk cover. Risk cover up to 3 years, after the Premiums are paid for 2 years.

  3. Attractions Suitable for Farmers , Small Business Owners, Milk and Vegetable vendors, Self Employed, etc. Intro Features Benefits illustrations Ideal for those persons who cannot produce age proof, (Provided age is less than of equal to 40 years and sum proposed is Rs 50,000/-

  4. Features Who can avail of this plan? Those aged between 18 and 50 years. Maximum Maturity Age is 75 years. Intro Features Benefits illustrations For how many years is premium payable ? Any policy term from 12 to 30 years can be chosen.

  5. Features For what sums is insurance available under this plan ? Minimum Rs. 50,000/-. Maximum : Rs. 10,00,000/- Intro Features Benefits illustrations At what frequency can premium be paid? Premiums can be paid by yearly, half-yearly, Quarterly, Monthly or through Salary Saving Scheme.

  6. Sample Premium Chart Annual Premium Rs. Intro Features Benefits illustrations

  7. Extended Life Cover Unexpected expenses can upset your budget suddenly. What do you do when you receive your premium notice in such circumstances? In most circumstances when you do not pay your premium, your policy lapses and along with it all benefits as well. Now, available is a plan which allows continuation of benefits under the policy over an extended period of three years, if two full years’ premiums are paid and next three years’ premiums not paid. Policy can be revived during or the end of such extended cover period. Intro Features Benefits illustrations

  8. Extended Life Cover A policy holder can pay 3/2/1 years’ unpaid premiums, without any health requirement, provided, such remittances are made within 36 months from the date of first unpaid premium (FUP). If all the unpaid premiums are paid within 36 months from FUP ,then this benefit can be availed again during the term of the policy. Incase, if only 1 year’s or 2 year’s unpaid premiums are paid within 36 months from FUP , then this benefit is extended by the same no. of years. Intro Features Benefits illustrations

  9. When are benefits payable? Risk Cover : On death during premium payment period, Natural death: Full sum assured + Accrued bonuses Accidental : Two times sum assured + Accrued Bonus Risk is covered even during the lapsed period of the policy upto 3 years, after the premiums are paid for 2 years. Survival Benefit : When the policyholder survives till date of maturity and policy is in force, Full sum assured + Accrued bonuses is payable. Intro Features Benefits illustrations

  10. Illustrations Age at entry: 35 years Premium paying term: 25 years Mode of premium payment: Yearly Sum Assured: Rs.1,00,000/- Annual Premium: Rs.4,535 /- Intro Features Benefits illustrations

  11. 1)  This illustration is applicable to a non-smoker male/female standard (from medical, life style and occupation point of view) life.ii)   The non-guaranteed benefits (1) and (2) in above illustration are calculated so that they are consistent with the Projected Investment Rate of Return assumption of 6% p.a.(Scenario 1) and 10% p.a. (Scenario 2) respectively. In other words, in preparing this benefit illustration, it is assumed that the Projected Investment Rate of Return that LICI will be able to earn throughout the term of the policy will be 6% p.a. or 10% p.a., as the case may be. The Projected Investment Rate of Return is not guaranteed.iii)   The main objective of the illustration is that the client is able to appreciate the features of the product and the flow of benefits in different circumstances with some level of quantification.iv)  Future bonus will depend on future profits and as such is not guaranteed. However, once bonus is declared in any year and added to the policy, the bonus so added is guaranteed.v)   The maturity benefit is the amount shown at the end of the policy term. Illustrations-Disclaimer and Assumptions Intro Features Benefits illustrations

  12. Thank you

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