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INVEST GAIN
ENDOWMENT FOR YOU
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ObjectivesObjectivesBy the end of this session you will be able to understand:
the changing needs in an individual’s life
the basics of an endowment plan
the features & benefits of InvestGain
Importance of rider cover
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Savings to meet anticipated expenses in future
What are your anticipated expenses
in future?
Money for your child’s higher education
Money for your child’s Marriage
Money for buying a new house/car
Money to spend for your retirement years
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Changing needs in lifeChanging needs in life
Starting a jobSingle individual
Just Married
Birth of a child
Kids going to schoolcollege
Needs:
Low Protection
Savings & Wealth creation
Needs:
Savings & wealth creation
Needs:
Planning for children’s education, marriage
Needs:
Money for retirement
Money for buying assets
Children independentReaching golden years
Needs:
Preserving wealth
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Financial GoalsFinancial GoalsMoney for child’s higher education
Money for child’s marriage
Money for buying a new house/car
Money for post-retirement life to supplement company pension.
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What is an Endowment planWhat is an Endowment planEndowment policies cover the risk for a
specified period at the end of which the sum assured is paid back to the policyholder along with all the bonus accumulated during the term of the policy.
The payment of the endowment to the policyholder at the completion is the main reason for the popularity of endowment policies.
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How Endowment Plan WorksHow Endowment Plan Works
The maturity proceeds can be used to finance child’s education
The maturity proceeds can be used to finance child’s Marriage
The maturity proceeds can be used to buy a new house/car
The maturity proceeds can be spend on a leisure tour or for retirement.
You pay premium during the Term & you enjoy Protection
You start when are are young
You plan your maturitybased on your anticipated
expenditures
Benefits of Protection can be used for sustaining family income, and providing for other unforeseen incidents
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Endowment vs other savings Endowment vs other savings instrumentsinstruments
INSTRUMENT
Safety of Capital Preservation Liquidity
Post tax returns Tax Efficiency
Risk Cover*
Provident Fund High Low Good Good NoneShares Uncertain Good Uncertain Low NoneBonds Average Average Low Low NoneFixed Deposits High Average Low Low NoneMutual Funds Average High Uncertain Average NonePostal Savings Schemes High Low Average Average None
Endowment HIGH AVERAGE GOOD HIGH YES
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PresentingPresenting
InvestGainThe endowment plan with a
difference….
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Plans availablePlans available InvestGain Economy InvestGain Gold
InvestGain Diamond
InvestGain Platinum
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USP – Highest Death BenefitUSP – Highest Death Benefit
Economy – On Death, SA + Bonuses payable
Gold – On Death, Double SA + Bonuses payable
Diamond – On Death, Triple SA + Bonuses payable
Platinum – On Death,
Quadruple SA + Bonuses payable
Maturity Benefit is same for all 4 plans
Highest Death benefit
available with
endowment in the
market..
Our USPOur USP
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USP – High Risk Cover at Lowest CostUSP – High Risk Cover at Lowest Cost
PACKAGE RISK COVER
ANNUAL PREMIUM
DIFFERENCE IN PREMIUM W.R.T ECONOMY
ECONOMY 10,00,000 24120 Not Applicable
GOLD 20,00,000 27,120 3,000 for ADDITIONAL RISK COVER OF 10,00,000
DIAMOND 30,00,000 30,020 5,900 for ADDITIONAL RISK COVER OF 20,00,000
PLATINUM
40,00,000 33,020 8,900 for ADDITIONAL RISK COVER OF 30,00,000
Rates for Male Age 30, Term 30, RP
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Power of Limited PayPower of Limited Pay
FOR 5-9 YRS TERM YOU CAN PAY 2 OR 3 YRS
FOR 10-14 YRS TERM YOU CAN PAY 2,3, OR 5 YRS
FOR 15-19 YRS TERM YOU CAN PAY 2,3, 5,7 OR 10 YRS
FOR 20-24 YRS TERM YOU CAN PAY 2,3, 5,7 10 OR 12 YRS
FOR 25 YRS &ABOVE YOU CAN PAY 2,3,5,7,10,12 OR
15 YRS
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Power of Limited PayPower of Limited Pay
REGULAR PREMIUM
TOTAL PREMIUM OUTGO
LIMITED PREMIUM5 YRS
TOTAL PREMIUM OUTGO
YOU SAVE
24120 723600 73000 365000 358600
Male Aged 30, Term 30, Sum Assured Rs10,00,000 IG Economy
Savings of 51%
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Financial Security Before MaturityFinancial Security Before MaturityShould one die before the chosen maturity
date, full sum assured along with accrued bonuses is payable.
Also, one can build additional cover into one’s plan at a small additional cost: Family Income Benefit (Unique feature of
Bajaj Allianz - No other plan in the market offers this!!)
Comprehensive Accident Protection (CAP)Critical Illness BenefitHospital Cash Benefit
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Family Income Benefit (FIB)Family Income Benefit (FIB) Bajaj Allianz USP – No other Endowment
plan offers FIB.
What is the FIB? It is a sustained regular income for the family –
1% of the Sum Assured payable per month (12% of the Sum Assured per annum)
It is payable on Death/Accidental Permanent Total Disability of the Life Assured. All future premiums are waived in case of disability
It is payable till the end of the policy term, or for a minimum of 10 years, whichever is higher
Benefit available under regular as well as limited payment terms.
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Family Income Benefit (FIB)Family Income Benefit (FIB)
18
50
can be bought between Age 18 and Age 50
Intimate within
60 days
70
FIB NA in case of TPD after age 65
65
FIB payment cannot exceed calculated Age 70
FIB payable till the end of TERM
Or for 10 years, whichever is higher
In case of Death
and TPD
WoP kicks in for TPD
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Family Income BenefitFamily Income Benefit
Annual Premium
Benefit payable in case of death in Year 1
Benefit payable in case of death in Year 29
InvestGain Economy 24120 1000000 1920845InvestGain Economy + FIB 27978 4480000 3120845Additional for FIB 3858 3480000 1200000
Avail of a great benefit at a nominal extra premium.
Regular Premium Option - Age 30, Term 30, Sum Assured 10 lakhs
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CAPCAP Comprehensive Accident Protection (CAP) –
This benefit provides comprehensive cover in case of an accident. It comprises of:
Accidental Death Benefit (ADB)
Accidental Permanent Total/Partial Disability Benefit (APT/PD)
Waiver of Premium Benefit (WOP)
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Accidental Death Benefit (ADB)Accidental Death Benefit (ADB)In case of accidental death, the benefits
payable are:
Basic SA + Accrued Bonuses + ADB SA
Increase your risk protection at a very minimal cost
Maximum SA: Rs 50,00,000
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Accidental Permanent T/P DisabilityAccidental Permanent T/P DisabilityYour safety net against disability too…
In case of Total Disability – 100% of SA
In case of Partial Disability – 50% of SA
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Waiver Of Premium (WOP)Waiver Of Premium (WOP) We cover disability…An accident may lead to
permanent total disability, limiting ones ability to earn.
All future premiums will be waived off while keeping the valuable life insurance cover alive if the client becomes totally and permanently disabled due to accident
We provide full insurance coverage for all benefits, except Hospital Cash Benefit (if selected).
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Illustration 1Illustration 1
Male, age 30. Plan selected InvestGain Economy, SA = Rs 5 lakh. Term 25; Accidental Death at age 45. Illustrate the benefits payable.
Case a: No rider attached
Case b: Comprehensive Accident Protection (CAP) attached. SA 5 lakh. (Protect Option selected)
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Illustration 1: Case aIllustration 1: Case a
Age/Events Benefits Payable
At age 45 accidental death due to accident
1. Basic policy SA = Rs 500,000
2. Reversionary Bonuses = RB
3. Terminal Bonus = TB
Total Benefit payable: 500,000 + RB + TB
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Illustration 1: Case bIllustration 1: Case b
Age/Events Benefits Payable
At age 45 accidental death due to accident
1. Basic policy SA = Rs 500,000
2. Reversionary Bonuses = RB
3. Terminal Bonus = TB4. Rider SA = Rs 500,000
Total Benefit payable: 10,00,000 + RB + TB
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Illustration 2Illustration 2
Male, age 30. Plan selected InvestGain Economy, SA = Rs 5 lakh. Permanent Disability due to accident at age 40. Death at age 54. Illustrate the benefits payable.
Case a: No rider attached
Case b: CAP attached. SA 5 lakh. (Protect Option selected)
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Illustration 2: Case aIllustration 2: Case a
Age/Events Benefits Payable
At age 40 permanent disability due to accident
At age 54 died
No rider benefit payable, policyholder has to continue to pay premium;
In the event of not paying the premium the policy might lapse.
Basic policy SA = Rs 500,000Reversionary Bonuses = RBTerminal Bonus = TB(Provided all premiums due till date are paid)
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Illustration 2: Case bIllustration 2: Case bAge/Events Benefits Payable
At age 40 permanent disability due to accident
At age 54 died
1. Rider benefit = Rs 500,000;
2. Future Premiums waived; Basic policy continues; ADB
rider also continues;
1. Basic policy SA = Rs 500,000
2. Reversionary Bonuses = RB
3. Terminal Bonus = TB
Total Benefit payable: 10,00,000 + RB + TB +
Waiver of future premiums
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Critical Illness (CI)Critical Illness (CI)When a dreaded illness strikes…
SA payable under 11 critical Illnesses covered.
Basic policy remains in force even after such a claim payment.
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Illustration 3aIllustration 3a Age of Policyholder = 30 years Initial Sum Assured = 500,000 Health option selected = SA :500,000 Premium Paying Term = 25 years
Assume the Policy has run for 10 years.
The policyholder has suffered a critical illness
Hence the Critical Illness Benefit payable is 5,00,000.
The basic policy continues.
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Hospital CashHospital Cash This is a unique offering, first offered in the market by
Bajaj Allianz.
In case of hospitalisation the amount of reimbursement is the lower of 75 % of the room charge in hospital or the eligible daily hospital cash amount where the daily hospital cash amount calculated is @ Rs. 4 per Rs.1000 Sum Assured subject to a minimum coverage of Rs. 200 per day
selected and a maximum coverage of Rs. 1,000 per day
The Hospital Cash Benefit ceases once the Waiver of Premium is affected.
No more worries of settling Hospital bills (room charges).
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Difference in PremiumDifference in Premium
Package (Age 30, SA 500,000, PPT= 25) InvestGain
Economy
FIB CAP Health Total
Premium 15970 17598 16710 19172 21478
Difference in premium
10.2% 4.6% 20.0% 34.5%
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Flexibility in Rider CoverageFlexibility in Rider Coverage Accidental death benefit, Accidental permanent total & partial disability
benefit and Waiver of premium (CAP) benefit have to be taken together.
This combination can be included and excluded at each policy anniversary.
Critical illness benefit and Hospital cash benefit (Health) will also have to be taken together, and have to be selected at issue only.
This combination (Health) can be removed at a later policy anniversary. Once the policyholder opts out of this combination, he cannot select it again in future.
FIB cover has to be selected at inception only. FIB can’t be removed at any subsequent policy anniversary.
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Thank You
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