Popularity Meter

17,77,352 policies
sold in 2003-04
in the very 2nd year
after introduction
 Intro

features

benefits

illustrations
 Intro

features

benefits

illustrations
 Who can avail of this For how many years
plan? is premium payable ?
Male lives and female You can choose
Intro
lives having their own premium payment
income aged between terms between 5
18 years (completed) and 57 years
features and 65 years (near
birthday)
For what sums is At what frequency
benefits insurance available can premium be
under this plan ? paid?
Minimum Rs. 1 lakh. Yearly, Half-
illustrations
Maximum : no limit, Yearly, Quarterly,
but depends upon SSS
income
 Critical Illness Rider : Eligibility

(A) Minimum entry age : 18 yrs (completed)

(B) Maximum entry age : 50 yrs (nearer birthday)
(C) Maximum maturity age : 60 years
Intro (D) Minimum Sum Assured for the Critical illness Rider : Rs.50,000/=
(E) Minimum Sum Assured of the Main plan on which the Critical illness
Rider can be given: Rs.50,000
(F) Maximum Sum Assured : An amount equal to the Basic Sum for the
features Critical Illness Rider Assured, subject to a maximum of Rs.5,00,000.
(G) Term : 10 to 35 years under regular premium
5 to 35 years under Single premium
and 15, 20 & 25 years under limited premium paying term policies.
benefits This rider is allowed only if the maturity age under main policy is not
greater than 60 years.

The policy term and premium paying term of the rider should match with
the policy term and premium paying term under the main policy.
illustrations
 Critical Illness Rider : Benefits

Critical Illness Sum Assured is payable on life assured surviving for a

period of 28 days from date of occurrence of any of the following
critical illnesses-
Heart Attack (Myocardial Infarction)
Intro
Stroke (Cerebro-vascular Accident)
Cancer
Kidney Failure
Major Organ transplant
features Paralysis
3rd Degree Burns
Blindness
Coronary Artery By-pass Surgery
benefits Heart Valve Replacement or Repair
Aorta Graft Surgery
Premium Waiver Benefit:
A policyholder has option to avail of a premium waiver benefit
illustrations whereby premiums falling due on or after the date of diagnosis of
critical illness are waived till maturity date of the main plan or earlier
death of the life assured.
 Age Term Sum Assured Rs.

Intro 1 lakh 2 lakhs 5 lakhs 10 lakhs

20 10 11543 23,086 56965 112930

features
25 10 11766 23,532 58080 115161

30 20 5660 11,320 27550 54274

benefits
35 20 5873 11,747 28617 56408

40 30 3880 7,760 18650 36550

illustrations
 When are benefits
payable?
Survival Benefit : Risk Cover :
When the policyholder
On death during
survives till date of
Intro premium payment
maturity and policy is
period,
in force,
Full sum assured +
features Full sum assured +
vested bonuses +
vested bonuses +
final additional
final additional
bonus, if any, is
bonus, if any, is
benefits payable.
payable.
Risk cover On death after
continues after premium paying
illustrations
maturity, without period,
need to pay
premium Full sum assured is
payable.
 Illustrations
Age at entry: 35 years Premium paying term: 25 years
Mode of premium payment: Yearly Sum Assured: Rs.1,00,000/-
Annual Premium: Rs.4,535 /-

End of Total Benefit payable on survival

Year premium
Intro paid till end
to the end of selected term
of year Guaranteed Variable Total

Scenario 1 Scenario 2 Scenario 1 Scenario 2

features

25 1,13,375 1,00,000 41500 141000 141500 241000

benefits

26 1,13,375 1,00,000 - - 1,00,000 1,00,000

onwar ** ** **
ds
illustrations
 Illustrations
Age at entry: 35 years Premium paying term: 25 years
Mode of premium payment: Yearly Sum Assured: Rs.1,00,000/-
Annual Premium: Rs.4,535 /-
Total premium Benefit payable on death during the selected term
End of paid till end of
Guarantee Variable Total
Year year
d*
Scenari Scenario 2 Scenario Scenario 2
o1 1
Intro

1 4,535 1,00,000 1500 5100 101500 105100

2 9,070 1,00,000 3000 10200 103000 110200

features
3 13,605 1,00,000 4500 15300 104500 115300

4 18,140 1,00,000 6000 20400 106000 120400

benefits
5 22,675 1,00,000 7500 25500 107500 125500

6 27,210 1,00,000 9000 30600 109000 130600

illustrations
7 31,745 1,00,000 10500 35700 110500 135700

8 36,280 1,00,000 12000 40800 112000 140800

9 40,815 1,00,000 13500 45900 113500 145900

 Illustrations:
Assumptions
The illustration is applicable toand Disclaimer
a non-smoker male/female
standard (from medical, life style and occupation point of
view) life.
The non-guaranteed benefits in the illustrations are
calculated so that they are consistent with the Projected
Intro 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
features 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.

benefits 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.
illustrations
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.
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