Lic jeevan shree 162

Create a large capital at a low Create a large capital at a low cost. cost. Exclusive policy for people with an Exclusive policy for people with an exclusive life style exclusive life styleFlexibility of premium payments – Flexibility of premium payments – premium payment liability can be premium payment liability can be fulfilled in a shorter period.fulfilled in a shorter period.

Features Benefits IllustrationsIntro

Guaranteed Additions during the Guaranteed Additions during the first 5 years and participating in first 5 years and participating in profits thereafter.profits thereafter.High Liquidity : Special Surrender High Liquidity : Special Surrender value can be available after 1 year value can be available after 1 year subject to conditions. Loan subject to conditions. Loan available on payment of premiums available on payment of premiums for at least 1/10th of the PPT. for at least 1/10th of the PPT.

Intro Features Benefits Illustrations

Accident cover and term rider Accident cover and term rider benefits continue even after benefits continue even after premium is fully paid up.premium is fully paid up. Option to choose premium Option to choose premium payment terms to suit your payment terms to suit your convenience.convenience. Bonus continues to accrue even Bonus continues to accrue even after premium is fully paidafter premium is fully paid. . Ideal plan for Key Man InsuranceIdeal plan for Key Man Insurance. .



Who can avail of this plan? Those aged between 18 years (last birthday) and 65 years (near birthday)

• For how many years will risk be covered? Policyholder can choose one of the following ‘ policy terms : 5,10,15,20 or 25 years.

For how many years is premium payable? Policyholder can choose one of the following premium terms: Single,2,3,4,6,8,10,12,16 years.


For what sums is the policy available? Minimum Sum Assured is Rs. 5 lakhs; and in multiples of Rs. 1 lakh thereafter. Maximum Sum Assured depends upon income

Maximum Maturity age? Maximum maturity age is 75 years.

Is Loan available under this plan? Yes, loan is available under this plan.

Is term rider available? Yes, term rider is available up to Rs. 25 lakhs.


Term Assurance Rider Term Assurance Rider

Term Assurance as optional rider will be available under this plan.Premiums for this option are payable during the premium paying term and an amount equal to Term Assurance Sum Assured will be payable on death during the policy term. The premium for this option will be payable in addition to the premium under the basic

Age PolicyTerm

Prem.Term

Sum Assured Rs. 5 lakhs 8 lakhs 10 lakhs 15 lakhs

20 25 16 24377 39004 48755 73132

25 25 16 24475 39161 48951 73426

30 25 12 29841 47746 59682 89523

35 25 16 25186 40298 50372 91140

40 25 16 26019 41630 52038 78057



On survival upto maturity, an amount equal to the Sum Assured plusplus vested guaranteed additions of Rs. 50 per thousand sum assured plusplus reversionary bonuses, as declared from 6th year onwards, shall be paid.• Participation in profits: The policy shall participate in surplus from 6th year onwards & entitled for Bonuses declared as per the experience of LICI.


On death during the first 5 policy years - An amount equal to the sum assured plusplus vested guaranteed additions of Rs. 50 per thousand sum assured shall be paid.. On death after first 5 policy years –

An amount equal to the Sum Assured plusplus vested guaranteed additions of Rs. 50 per thousand sum assured plusplus reversionary bonuses, as declared from 6th year onwards shall be paid.

End of year

Total Premium paid till end of year

Death Benefit / Maturity Benefit (Rs.) payable at end of year

Guaranteed

Variable Total

Scenario 1 Scenario 2Scenario

1 Scenario 21 25186 500000 0 0 500000 5000002 50372 525000 0 0 525000 5250003 75558 550000 0 0 550000 5500004 100744 575000 0 0 575000 5750005 125930 600000 0 0 600000 6000006 151116 625000 9500 36500 634500 6615007 176302 625000 19000 73000 644000 6980008 201488 625000 28500 109500 653500 7345009 226674 625000 38000 146000 663000 771000

10 251860 625000 47500 182500 672500 80750015 377790 625000 95000 365000 720000 99000016 402976 625000 104500 401500 729500 102650020 402976 625000 189500 729500 814500 135450025 402976 625000 253000 973000 878000 1598000

Age at Entry : 35 years, Sum Assured : Rs. 5 lakhs Yearly Premium Rs. 25,188Policy Term : 25 years Premium Term : 16 years


This illustration is applicable to a non-smoker male/female standard (from medical, life style and occupation point of view) life.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.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.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.



Is term rider available under the plan ? Yes, as an optional rider. An additional premium for this

option shall be payable in addition to the premium under the basic plan during the premium paying term and an amount equal to Term Assurance Sum Assured will be payable on death during the policy term.

Is accident benefit available under the plan? Accident benefit will be available under the plan upto a

maximum of Rs.25 lakh (under all policies taken together) subject to the payment of additional premium. An additional amount equal to the Accident Benefit Sum Assured is payable on death. This benefit will be available for the full term of the policy or till the policy anniversary immediately following the Life Assured attaining 70 years of age.

Can a policy under the plan be dated back? The policies can be dated back within the financial year.

Back-dating interest is charged at the rate of 10.5% p.a. for dating back in excess of one month.


If policy is lapsed can it be revived? The policyholder can revive his lapsed policy by paying arrears of premium together with interest to be decided by the Corporation from time to time, subject to satisfactory evidence of health. The present rate of interest is 9% p.a. payable half-yearly. Is loan available under the policy ?

Loan is permissible subject to usual terms and conditions. The rate of interest on loan shall be charged at the rate of 10.5% p.a. payable half-yearly. The rate of interest is subject to revision. If I am not able to continue my policy do I lose the premium paid?

No, the policy acquires paid-up value after at least one full year’s premium has been paid where premium paying term upto 10 years. For premium paying terms of more than 10 years, policy acquires paid-up value after 2 full years’ premiums are paid.


If the plan is availed under Keyman Insurance, is the policy transferable ?

Where a policy under this plan has been taken by an employer for a keyman employee and such keyman leave the services and joins another employer, the policy may be transferred in favour of the new employer subject to fulfillment of the following conditions :-

The old employer requests for the transfer and is prepared to execute an assignment in favour of the new employer, the life assured employee is the keyman of the new employer, and the policy is in full force.

The terms of transfer may be decided by both the employers

mutually. Needless to add that such transfer will be subject

to the approval from LIC

Lic jeevan shree 162

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