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PPT On New PLans

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LIC’s NEW ENDOWMENT PLANTABLE NO. 814

(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.

Table No 814-New Endowment

(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) .

Other Important Points

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.

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LIC’s NEW MONEY BACK PLANTABLE NO. 820 & 821

PARTICULARPLAN 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 20 YEARS

MIN. S.A. 1,00,000 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 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)

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 AVAILABLE AFTER 3 YEARSREVIVAL WITHIN 2 YEARS OF FUP WITHIN 2 YEARS OF FUPSERVICE TAX BY POLICY HOLDER BY POLICY HOLDER

NEW MONEY BACK PLANS TABLE 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%

v) Bonus commission:- 40% of 1st yr commission .

vi) DOs credit :- full .

20yrs & 25 yrs new money back ( Plan-820& 821

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LIC’s NEW JEEVAN ANAND TABLE NO. 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.

New Jeevan Anand Policy (Plan-815)

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LIC’s NEW BIMA BACHAT TABLE NO. 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 .

New Bima Bachat Policy (Plan-816)

AGE TABLE/TERM S.A. SINGLE PREM.

40816-12 50000 40197

175-12 50000 37062

45816-12 100000 77901

175-12 100000 73247

50816-12 200000 154398

175-12 200000 146814

PREMIUM COMPARISION

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LIC’s NEW SINGLE PREMIUMENDOWMENT PLAN

TABLE NO. 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 .

Single Premium Endowment (Plan-817)

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

Why? LIC Single Premium Endowment Plan

19THANK YOU