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Illustration 1: Let us take the example of a policy holder who is 35 years old and takes a policy for the term of 9 years for a sum of Rs 1,00,000/-.He pays a single premium of Rs 67058/Benefit on death during the year End Total of premiums Variable Total year paid till Guaranteed Scenario Scenario Scenario Scenario end of year 1 2 1 2 1 to 9 67058 100000 0 0 100000 100000
Survival Benefits :
End Total Benefit payable on survival at the end of specified of premiums year year paid Variable Total Guaranteed Scenario Scenario Scenario Scenario 1 2 1 2 3 6 9 67058 67058 67058 15000 15000 67058 0 0 0 0 0 24300 15000 15000 67058 15000 15000 91358
Illustration 2: Let us take the example of a policy holder who is 35 years old and takes a policy for the term of 12 years for a sum of Rs 1,00,000/-.He pays a single premium of Rs 72145/-. Benefit on death during the year End Total of premiums Variable Total year paid till Guaranteed Scenario Scenario Scenario Scenario end of year 1 2 1 2 1 to 12 72145 100000 0 0 100000 100000
Survival Benefits :
End Total Benefit payable on survival at the end of specified of premiums year year paid Variable Total Guaranteed Scenario Scenario Scenario Scenario 1 2 1 2 3 6 9 12 72145 72145 72145 72145 15000 15000 15000 72145 0 0 0 0 0 0 0 40800 15000 15000 15000 72145 15000 15000 15000 112945
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Illustration 3: Let us take the example of a policy holder who is 35 years old and takes a policy for the term of 15 years for a sum of Rs 1,00,000/-.He pays a single premium of Rs 75195/-. Benefit on death during the year End Total of premiums Variable Total year paid till Guaranteed Scenario Scenario Scenario Scenario end of year 1 2 1 2 1 to 15 75195 100000 0 0 100000 100000
Survival Benefits :
End Total Benefit payable on survival at the end of specified of premiums year year paid Variable Total Guaranteed Scenario Scenario Scenario Scenario 1 2 1 2 3 6 9 12 15 75195 75195 75195 75195 75195 15000 15000 15000 15000 75195 0 0 0 0 0 0 0 0 0 60000 15000 15000 15000 15000 75195 15000 15000 15000 15000 135195
Notes: i) The above examples are applicable to a *standard non-smoker male/female (*medical condition, lifestyle and occupation) 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 LIC 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 example 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. The maturity benefit is the amount shown at the end of the policy term.
Statutory warning:
Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your Insurer carrying on life insurance business. 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 future investment returns. These assumed rates of return are not guaranteed and they are not the 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.
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