Lic jeevan kishore 102
10
LIC’s LIC’s Jeevan Jeevan Kishore Kishore Plan for your Plan for your Child’s start- Child’s start- in-life in-life ‘ ‘ Jeevan Kishore’ Jeevan Kishore’ ( Plan 102 ) - ( Plan 102 ) - CHILDREN’S DEFERRED ASSURANCE CHILDREN’S DEFERRED ASSURANCE PLAN PLAN FROM FROM LIC of INDIA. LIC of INDIA.
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Transcript of Lic jeevan kishore 102
LIC’s LIC’s Jeevan Jeevan KishoreKishore
Plan for yourPlan for yourChild’s start-in-lifeChild’s start-in-life
‘‘Jeevan Kishore’Jeevan Kishore’( Plan 102 ) -( Plan 102 ) -CHILDREN’S DEFERRED ASSURANCE CHILDREN’S DEFERRED ASSURANCE PLANPLAN
FROM FROM LIC of INDIA.LIC of INDIA.
LIC’s LIC’s Jeevan Jeevan KishoreKishore
Plan for yourPlan for yourChild’s start-in-lifeChild’s start-in-life
Attractions A Children’s Deferred Assurance Plan
to make for provision for your child’s start-in-life. Plan can be availed for newly born to
12 year old kids. Helps you build up a capital in small
instalments, gradually but definitely. Guaranteed Sum Assured at Maturity.
Policy participates in profits and
terminal bonus is payable at maturity, depending upon the experience of the Corporations. Premium Waiver Benefit can be
availed by the proposer, whereby payment of future premium is waived, in case of unfortunate death of proposer, during term of the policy.
Intro
Features
Benefits
Illustrations
LIC’s LIC’s Jeevan Jeevan KishoreKishore
Plan for yourPlan for yourChild’s start-in-lifeChild’s start-in-life
Features Who can avail of this plan ?
Parents can propose this plan on the life of children, both male and female, between the ages 0 and 12 (age last birthday ). Generally father can propose but if mother has income of her own, she can propose.]
• When will the risk commence ? Risk will commence either 2 years after the date of commencement or from the policy anniversary falling immediately after the completion of 7 years of age, whichever is later.
• What will be the Age Proof? Certified extract from Municipal or other records at the time of birth. Proposals on the lives of children after age 5 years will be entertained only if they are attending School and in such cases only certified extract from School records will be accepted as age proof.
Intro
Features
Benefits
Illustrations
LIC’s LIC’s Jeevan Jeevan KishoreKishore
Plan for yourPlan for yourChild’s start-in-lifeChild’s start-in-life
Features What is the duration for which the policy is
issued ? Minimum term is 15 years & maximum term is 35 years. Maturity ages allowed are 20 to 30 years and 35, 40 and 45 years.
When Accident Benefit will be granted ? AB is granted without charging any extra benefit for the first Rs. 1 lakh after the attainment of age 25 by the Life Assured. Permanent Disability benefit is applicable from the date of vesting.
Whether medical examination is required ? Not required if the age of the child is less than 10 years last birthday. Else medical examination is necessary.
Intro
Features
Benefits
Illustrations
LIC’s LIC’s Jeevan Jeevan KishoreKishore
Plan for yourPlan for yourChild’s start-in-lifeChild’s start-in-life
Premiums will be paid by proposer grand parents out of their own earned/unearned income, during minority of the life assured.
Existing rules of parents income eligibility and total insurance in force on their lives for deciding maximum sum assured allowable are strictly adhered to.
A letter received from the parent giving their consent for proposing by grand parent of the minor.
FeaturesCan grandparents propose ?
Intro
Features
Benefits
Illustrations
LIC’s LIC’s Jeevan Jeevan KishoreKishore
Plan for yourPlan for yourChild’s start-in-lifeChild’s start-in-life
Maturity Benefit
If the policy is in full force , full Sum Assured along with
Vested Bonus and Final Additional Bonus is payable.
Death Benefit :Before commencement of Risk : On death of child i.e. Life Assured before commencement of risk, the premiums paid
excluding premium for PWB ( Premium Waiver Benefit) will
be refunded as death claim to proposer. No bonus is payable. Substitution of child will not be
permitted.
On and after commencement of Risk :
If death of Life Assured takes place within days ofgrace or within Basic/Extended claim concessionperiod , then full Sum Assured along with Vested
Bonusminus outstanding premiums will be paid as death
claim.
Benefits
Intro
Features
Benefits
Illustrations
LIC’s LIC’s Jeevan Jeevan KishoreKishore
Plan for yourPlan for yourChild’s start-in-lifeChild’s start-in-life
Illustrations : Table No. 102Illustrations : Table No. 102
Age at entry of child : 10 Years Age at entry of child : 10 Years Policy Term : 25 Years Policy Term : 25 Years Age of child at Maturity : 35 Years Age of child at Maturity : 35 Years Mode of premium payment : YearlyMode of premium payment : YearlySum Assured : Rs. 1,00,000 /-Sum Assured : Rs. 1,00,000 /-Annual Premium : Rs. 3635 /-Annual Premium : Rs. 3635 /-
End of End of yearyear
Total Total premiums premiums paid till paid till
end of yearend of year
Benefit payable on Death / Maturity at the end of yearBenefit payable on Death / Maturity at the end of yearGuaranteedGuaranteed VariableVariable TotalTotal
Scenario Scenario 11
Scenario Scenario 22 Scenario 1Scenario 1
Scenario Scenario 22
11 36353635 36353635 00 00 36353635 3635363522 72707270 72707270 00 00 72707270 7270727033 1090510905 100000100000 63006300 1650016500 106300106300 11650011650044 1454014540 100000100000 84008400 2200022000 108400108400 12200012200055 1817518175 100000100000 1050010500 2750027500 110500110500 12750012750066 2181021810 100000100000 1260012600 3300033000 112600112600 13300013300077 2544525445 100000100000 1470014700 3850038500 114700114700 13850013850088 2908029080 100000100000 1680016800 4400044000 116800116800 14400014400099 3271532715 100000100000 1890018900 4950049500 118900118900 1495001495001010 3635036350 100000100000 2100021000 5500055000 121000121000 1550001550001212 4362043620 100000100000 2520025200 6600066000 125200125200 1660001660001515 5452554525 100000100000 3150031500 8250082500 131500131500 1825001825002020 7270072700 100000100000 4200042000 110000110000 142000142000 2100002100002525 9087590875 100000100000 6950069500 182500182500 169500169500 282500282500
Intro
Features
Benefits
Illustrations
LIC’s LIC’s Jeevan Jeevan KishoreKishore
Plan for yourPlan for yourChild’s start-in-lifeChild’s start-in-life
i) This illustration is applicable to a non-smoker
male/female standard (from medical and life style 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.
Illustrations : Illustrations : Disclaimer and Assumptions Disclaimer and Assumptions
Intro Intro
FeaturesFeatures
BenefitsBenefits
IllustrationsIllustrations
LIC’s LIC’s Jeevan Jeevan KishoreKishore
Plan for yourPlan for yourChild’s start-in-lifeChild’s start-in-life
Illustrations : Disclaimer and Illustrations : Disclaimer and assumptions ( Contd. )assumptions ( Contd. )
(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 bonuses 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 amounts shown at the end of the policy term.
Intro Intro
FeaturesFeatures
BenefitsBenefits
IllustrationsIllustrations
LIC’s LIC’s Jeevan Jeevan KishoreKishore
Plan for yourPlan for yourChild’s start-in-lifeChild’s start-in-life thank thank
youyou
