Hemanshu Karia Financial advisor
Jeevan Vriddhi
Jeevan Vriddhi is a single premium non-linked plan which provides for payment of Guaranteed Maturity Sum Assured along with Loyalty Addition, if any, on maturity. Under this plan death benefit is the Basic Sum Assured.
Jeevan Vruddhi Plan Attractions
Security - Five times of the single premium is being offered as the risk cover. Growth - There is attractive Guaranteed Maturity Sum Assured along with Loyalty additions, if any (Based on Corporation's experience) Convenience - One-time payment only. Freedom - There is no upper limit on investment for eligible lives. Liquidity - Policy Loan is available after just one year.
Jeevan Vruddhi Plan Features
Maturity Benefit: On maturity, the Guaranteed Maturity Sum Assured along with Loyalty Addition, if any, shall be payable. Loyalty Addition: Depending upon the Corporations experience the policy will be eligible for Loyalty Addition on date of maturity at such rate and on such terms as may be declared by the Corporation. Death benefit: On death, Basic Sum Assured shall be payable. The Basic Sum Assured shall be 5 times the
Single Premium excluding extra premium, if any. Jeevan Vruddhi Plan Terms
Minimum Entry Age: 8 years (completed) Age at entry of the Policyholder is to be taken as age nearest birthday except for the minimum age at entry i.e. 8 years. Maximum Entry Age: 50 years (nearest birthday) Mode of premium payment: Single premium Minimum Single Premium: Rs.30,000/Maximum Single Premium: No Limit (The Single Premium shall be in multiple of Rs. 1000/-) Policy Term: 10 years Guaranteed Maturity Sum Assured: The Guaranteed Maturity Sum Assured will depend on the single premium payable and the age at entry of the life to be assured.
Contact us: info@hemanshukaria.com 9428188083/84
Page 1
Hemanshu Karia Financial advisor
Guaranteed Maturity Sum Assured:
Guaranteed Maturity Sum Assured for each age at entry per Rs.1000/- Single Premium (exclusive of Service Tax) is as under:
Age at Guaranteed Age at entry Maturity entry Sum Assured (Rs.) 8 23 1984.60 9 10 11 12 13 14 15 16 17 18 19 20 21 22 1982.10 1979.15 1975.55 1972.10 1968.90 1966.35 1964.05 1961.90 1960.00 1958.30 1956.80 1955.50 1954.40 1953.45 24 25 26 27 28 29 30 31 32 33 34 35 36
Guaranteed Age at Maturity entry Sum Assured (Rs.) 37 1952.65 1951.85 1950.95 1949.90 1948.55 1946.85 1944.55 1941.60 1937.70 1932.80 1927.00 1920.40 1912.85 1904.30 38 39 40 41 42 43 44 45 46 47 48 49 50
Guaranteed Maturity Sum Assured (Rs.) 1894.60 1883.65 1871.20 1857.10 1841.45 1823.95 1803.90 1781.05 1755.30 1726.55 1694.75 1659.95 1622.60 1582.25
Incentive for Higher Premium:
Incentive for higher single premium by way of increase in the Guaranteed Maturity Sum Assured is as under:
Premium (excluding extra premium) Below Rs.50,000 Rs.50,000 to Rs. 99,000 Rs.1,00,000 and above
Increase in Guaranteed Maturity Sum Assured Nil 1.25% 3.00%
Contact us: info@hemanshukaria.com 9428188083/84
Page 2
Hemanshu Karia Financial advisor
Loan:
Loan facility will be available under this plan, after completion of one policy year.
Surrender Value:
The policy can be surrendered for cash after the policy has run for at least one year. The minimum Guaranteed Surrender Value allowable is equal to 90% of the Single premium paid excluding extra premium, if any. Corporation may however pay Special Surrender value as applicable on the date of surrender provided the same is higher than the Guaranteed Surrender Value. The Special Surrender Value will be the discounted value of the Guaranteed Maturity Sum Assured as on date of surrender.
Illustrations:
Age Entry: 20 Years Policy Term: 10 Years Premium: 30000/- (Single Premium) Sum Assured: 150000/Garneted Maturity Sum Assured: 58665/End Of Year 1 2 3 4 5 6 7 8 9 10 Amount Total Payable Premium on Paid Death 30000 150000 150000 150000 150000 150000 150000 150000 150000 150000 150000 Amount Payable on Maturity Variable Guaranteed Scenario 1 Scenario 2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Scenario 1 0 0 0 0 0 0 0 0 0 Scenario 2 0 0 0 0 0 0 0 0 0
58665
7333
58665
65998
Contact us: info@hemanshukaria.com 9428188083/84
Page 3
Hemanshu Karia Financial advisor
Age Entry: 35 Years Policy Term: 10 Years Premium: 100000/- (Single Premium) Sum Assured: 500000/Garneted Maturity Sum Assured: 197023/Amount Amount Payable on Maturity Total Payable Variable Total Premium on Guaranteed Paid Death Scenario 1 Scenario 2 Scenario 1 Scenario 2 1 100000 500000 0 0 0 0 0 2 500000 0 0 0 0 0 3 500000 0 0 0 0 0 4 500000 0 0 0 0 0 5 500000 0 0 0 0 0 6 500000 0 0 0 0 0 7 500000 0 0 0 0 0 8 500000 0 0 0 0 0 9 500000 0 0 0 0 0 0 24628 197023 221651 10 500000 197023 Note: The Single Premium Shown Above is Exclusive of Service Tax. Statutory warning Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your life insurance company. If your policy offers guaranteed returns then these will be clearly marked "guaranteed" in the illustration table on this page. If your policy offers variable returns then the illustrations on this page will show two different rates of assumed investment returns. These assumed rates of return are not guaranteed and they are not upper or lower limits of what you might get back as the value of your policy is dependent on a number of factors including future investment performance. End Of Year Notes This illustration is applicable to a 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 his 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.
Contact us: info@hemanshukaria.com 9428188083/84
Page 4
