LIC of India presents LIC of India presents KOMAL JEEVANKOMAL JEEVAN
A PLAN
FOR
YOUR
BELOVED
CHILD
TO
HELP YOU
PROVIDE FOR
HIS/HER
HIGHER
EDUCATION&
START-IN-LIFE
LIC of India presents LIC of India presents KOMAL JEEVAN (Plan KOMAL JEEVAN (Plan 159)159)
LIC of India presents LIC of India presents KOMAL JEEVAN (Plan KOMAL JEEVAN (Plan 159)159)
LIC of India presents LIC of India presents KOMAL JEEVAN (Plan KOMAL JEEVAN (Plan 159)159)
Thoughts that cross every parent’s mind……. At what stages in the
growth of my child will I need to provide
money for higher education
and start-in-life?
Can I plan properly so that my dreams for mychild do not remain unfulfilled for want of sufficient money
When and how will I be able to save such money ? Will the
accumulation be tax-free ?
Can I insulate my savings from a desire to
withdraw under one pretext or another ?
LIC of India presents LIC of India presents KOMAL JEEVAN (Plan KOMAL JEEVAN (Plan 159)159)
You can plan your target savings amount by saving in smaller annual installments instead of lump sum
Guaranteed sums will bepaid to you at your child’sage 18, 20, 22, 24 and 26years. i.e. when money isneeded most for child’s higher education, marriage and start-in-life.
Premiums waiver is available for a small additional premium, where future premiums are waived in case of unfortunate death of proposer parent and still all the benefits under the policy are protected.
You can create a large and guaranteed ‘Tax ‘Tax Free’Free’ capital for your child which will help him at every stage in life.
LIC of India presents LIC of India presents KOMAL JEEVAN (Plan KOMAL JEEVAN (Plan 159)159)
Plan Details : : For whom is the plan available? Children upto 10 years of ageFor what sums is insurance available?Rs. 1 lakh - Rs. 25 lakhsFor how many years is premium payable ?Up to child’s age 18 years. Premium Payment Mode ?Yly, Hly, Qly, Single Prem.
When does risk commence ? Two 2 years from the
date of commencement of
the policy
OR
From policy anniversary
immediately following
completion of 7 years of
age, whichever is later.
Who can propose ? Father Mother (with own Income) Legal guardian in the absence of father & mother
Age Premium Payable
Term
Sum Assured Rs. 1 lakh 2 lakhs 5 lakhs 10 lakhs
0 18 7449 14694 36734 71,814
1 17 7938 15671 39178 76,665
2 16 8490 16775 41937 82,104
3 15 9111 18018 45044 88,229
4 14 9642 19080 47700 93,521
5 13 10427 20650 51624 1,01,263
6 12 11336 22467 56168 1,10,230
7 11 12414 24625 61561 1,20,814
8 10 13691 27178 67946 1,33,407
9 9 14680 29157 72892 1,43,256
10 8 16517 32831 82077 1,61,386
LIC of India presents LIC of India presents KOMAL JEEVANKOMAL JEEVAN
LIC of India presents LIC of India presents KOMAL JEEVAN (Plan KOMAL JEEVAN (Plan 159)159)
If policy is in full force (i.e. premiums are paid uptodate), payment schedule is as under. Example : Sum Assured Rs. 5 lakhs; Life Assured’s Age : 0 years
Guaranteed Addition : Rs.75 per thousand Sum Assured p.a. at the end of each policy year will be added provided the policy is in full force. This guaranteed is payable on Death of life assured (provided the risk has commenced) or on Maturity.
Loyalty Additions may also be payable on Maturity or on Death after risk commences depending on experience of the Corporation.
% of Sum Assured payable
On policy anniversary falling after child (life assured) attains age
Rs. 1 lakh (i.e. 20% of S.A.)
18 years
Rs. 1 lakh (i.e. 20% of S.A.)
20 years
Rs. 1.50 lakh (i.e. 30% of S.A.)
22 years
Rs. 1.50 lakh (i.e. 30% of S.A.)
24 years
Rs. 9.75 lakhs (Guaranteed Addn.) plus loyalty addition
26 years
Illustration on Komal Illustration on Komal JeevanJeevan
End of
year
Benefit on Survival / Maturity at the end of YearGuarante
edVariable Total Scenario
1Scenari
o 2Scenario
1Scenario 2
18 20000 0 0 20000 2000020 20000 0 0 20000 2000022 30000 0 0 30000 3000024 30000 0 0 30000 3000026 195000 0 277000 195000 472000
Illustrations : Age at entry: 0 years Premium Paying Term: 1 Year Single Premium: Rs.73,980/- Policy Term: 26 years Sum Assured: Rs.1,00,000/-
Illustration on Komal Illustration on Komal JeevanJeevan
Illustrations : Age at entry: 0 years Premium Paying Term: 1 Year Single Premium: Rs.73,980/- Policy Term: 26 years Sum Assured: Rs.1,00,000/-
YearYearTotal Total
Premium Premium paid till end paid till end
of yearof year
Benefit on Death during the year (Rs.)Benefit on Death during the year (Rs.)
GuaranteedGuaranteed VariableVariable TotalTotal
Scenario 1Scenario 1 Scenario 2Scenario 2 Scenario 1Scenario 1 Scenario 2Scenario 2
11 7398073980 7398073980 00 00 7398073980 7398073980
22 7398073980 7398073980 00 00 7398073980 7398073980
33 7398073980 7398073980 00 00 7398073980 7398073980
44 7398073980 7398073980 00 00 7398073980 7398073980
55 7398073980 7398073980 00 00 7398073980 7398073980
66 7398073980 7398073980 00 00 7398073980 7398073980
77 7398073980 145000145000 00 1200012000 145000145000 157000157000
88 7398073980 152500152500 00 1600016000 152500152500 168500168500
99 7398073980 160000160000 00 2100021000 160000160000 181000181000
1010 7398073980 167500167500 00 2600026000 167500167500 193500193500
1515 7398073980 205000205000 00 6700067000 205000205000 272000272000
2020 7398073980 242500242500 00 128000128000 242500242500 370500370500
2626 7398073980 287500287500 00 277000277000 287500287500 564500564500
Illustration : Survival Illustration : Survival BenefitBenefit
End of year
Benefit on Survival / Maturity at the end of Year
Guaranteed Variable Total
Scenario 1
Scenario 2
Scenario 1
Scenario 2
1820000 0 0 20000 20000
2020000 0 0 20000 20000
2230000 0 0 30000 30000
2430000 0 0 30000 30000
26195000 0 176000 195000 371000
Illustration 2: Age at entry: 0 years Premium Paying Term: 18 years Annual Premium: Rs.7,281/- Policy Term: 26 years Sum Assured: Rs.1,00,000/-
Illustration: Risk CoverIllustration: Risk Cover Illustration 2: Age at entry: 0 years Premium Paying Term: 18 years Annual Premium: Rs.7,281/- Policy Term: 26 years Sum Assured: Rs.1,00,000/-
YearTotal
Premium paid till
end of year
Benefit on Death during the year (Rs.)Guarantee
dVariable Total
Scenario 1
Scenario 2 Scenario 1 Scenario 2
1 7281 7281 0 0 7281 72812 14562 14562 0 0 14562 145623 21843 21843 0 0 21843 218434 29124 29124 0 0 29124 291245 36405 36405 0 0 36405 364056 43686 43686 0 0 43686 436867 50967 145000 0 3000 145000 1480008 58248 152500 0 5000 152500 1575009 65529 160000 0 8000 160000 168000
10 72810 167500 0 11000 167500 17850015 109215 205000 0 43000 205000 24800020 131058 227500 0 71000 227500 29850026 131058 242500 0 91000 242500 333500
Illustration: Illustration: Assumptions andAssumptions and DisclaimerDisclaimer
i) 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.
LIC of India presents LIC of India presents KOMAL JEEVAN (Plan KOMAL JEEVAN (Plan 159)159)
• Is Medical Examination required? No, it is not required for this plan.• When does the policy vest in the Life Assured.? On the policy anniversary immediately after he/she attains majority• Can premium waiver be availed by proposer? Yes, upto the proposer’s age 50 years, on payment of small additional premium.
• Is Term Rider Benefit available ? Yes, it is available to the proposer to the extent of 20% of the basic Sum Assured under the policy not exceeding Rs.1 lakh & payable in case of unfortunate death of the proposer before the policy anniversary on which the child completes 18 years.
• Is Accident Benefit available under the plan ? No
LIC of India presents LIC of India presents KOMAL JEEVANKOMAL JEEVAN
Popularity MeterPopularity Meter3,75,456 policies
sold in 2003-04in the 1st full year after introduction