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Introduction of

LIC’s
Jeevan Amrit (Plan No.
186)
w.e.f. 28-5-07
INTRODUCTION:

 Itis a plan where the premium payment


is limited to 3 or 4 or 5 years and the
premium payable during the first year is
higher than the premiums payable in
subsequent years.
BENEFITS:

 Death Benefit: An amount equal to Sum Assured


along with vested Simple Reversionary Bonuses
and Final (Additional) Bonus (if any) is payable in
lump sum immediately on death of the Life Assured
during the term of the policy.
 Maturity Benefit: Payment of total amount of
premiums (excluding extra premiums, if any) paid
along with vested Reversionary Bonuses and Final
(Additional)Bonus, if any, in case of Life Assured
surviving to the end of the term.
PARTICIPATION IN PROFITS
OF THE CORPORATION:
 Depending upon the Corporation’s experience with
regard to policies issued under this plan, this policy
will be eligible for Simple Reversionary Bonus at
such rate and on such terms as may be declared by
the Corporation. The Simple Reversionary Bonuses
shall be declared annually at the end of each
financial year at the rate per thousand total amount
of premiums paid (excluding any extra premium) as
on the date of valuation. Paid-up policies (whether
partially or fully paid-up) shall also participate in the
profits of the Corporation.
Final (Additional) Bonus
 Final (Additional) Bonus may also be
declared under the policy which will be
payable on the expiry of policy term or on
earlier death provided the policy has run for
certain minimum term. Final Additional)
Bonus shall not be payable under partially
paid-up policies.
ELIGIBILITY CONDITIONS AND
RESTRICTIONS:

(a) Minimum Entry Age : 12 years (last birthday)


(b) Maximum Entry Age 60 years (nearest birthday)
(c) Maximum Maturity Age : 70 years (nearest birthday)
(d)Minimum Sum Assured : Rs. 1,00,000
(e)Maximum Sum Assured : No limit
(f) Premium Paying term : 3 to 5 years
(g) Policy term : 10 to 30 years
Sum Assured Rebate:

Sum Rebate per thousand S.A


Assured Ppt 3 yrs Ppt 4 yrs Ppt 5 yrs
FY Sub FY Sub FY Sub
< 2lac Nil Nil Nil Nil Nil Nil
2 lac to < 3lac 7.50 3.75 7.50 2.50 7.50 1.85
3 lac to < 5lac 10.00 5.00 10.00 3.30 10.00 2.50
5 lac to < 10 lac 12.50 6.25 12.50 4.15 12.50 3.10
More than 10 lac 15.00 7.50 15.00 5.00 15.00 3.75
 After payment of one years premium and
completion of one year policy will be eligible
for GSV, PAID UP VALUE, SURRENDR
VALUE AND LOAN
 After payment of full first year’s premium
policy will treated as full force for six months
from fup.
 Days of grace : 30 days are applicable

 Assignment, nomination, cooling off available

 Underwriting as per endowment plan


Example
AGE PPT TERM YEARLY PREMIUM
1 Lac 5 Lac 10 Lac Year
12 5 20 4699 17446 31991 FY
1146 4330 8010 SUB
20 5 20 5214 20018 37136 FY
1303 4967 9284 SUB
30 5 20 6542 26658 50415 FY
1637 6633 12616 SUB
Selling Points
 Low Premiums High Risk with bonus
 Bonus on premium paid, high premium high
bonus for higher ages.
 Very low premium for younger.

 Almost 50% premium is covered in first year


hence low chances of lapsation.
 High premium rebates.

 Wider age group of 12 to 60


In short
 Plan is unique combination of
 Bhavishya Jeevan,

 Limited premium endowment,

 Bima kiran