PLANS FOR HANDICAPPED DEPENDENTS | ||||||||||||
JEEVAN AADHAR-114
SUITABILITY: This Plan is Designed to Make Provision fpr Maintenance of Handicapped Dependent (HD). PRODUCT: Life Assured : Person Paying The Premium is Life Assured (L.A) Nominee : Only Handicapped Dependent is (H.D) Called Nominee The Policy is Like Limited Payment Whole Life Policy Where The Payment Of Premium is Limited to a Specific Term & There is no Maturity. So The Claim is Paid Only on Death of the Life Assured. Handicapped Dependent : He is a Relative of L.A. Gaurenteed Addition : Rs 100 / 1000 Sum Assured /Year. MATURITY BENEFIT: No Maturity Benefit . Only Death Benefit of L.A DEATH BENEFIT: 1.If Life Assured Death, Nominee H.D Will Get Benefit Notional Sum Assured = Sum Assured + Gtd Addition Rs100/1000SA + Terminal Benefit a)20% of Notional Sum Assured Will be Paid to H.D (immediately) b)Balance 80% of Notional Sum Assured Will be Used to Give a Annuity For 15 Years Certain & Life Thereafter. Amount of Annuity Will be Calculated Based on the Age of The H.D at The Time of Claim. 2.If H.D Dies Before L.A the Contract Ceases & L.A Will Receive a Refund Of Premiums Paid EXAMPLE:
Handicapped Age = 5 Premium Paying Term = 20 Years Premium = Rs 2994 / Year MATURITY BENEFIT: DEATH BENEFIT: 1.If Life Assured Death 11th Year, Nominee H.D Will Get Benefit Notional Sum Assured = Rs 2,20,000 a) Nominee H.D Will Get = Rs 44,000 (immediately) b) Nominee H.D Will Get Annuity = Rs 15800 / Year For 15 Years Certain & Life Thereafter. 2.If H.D Dies During 10th Year, Life Assured Will Get = Rs 29940 | ||||||||||||
JEEVAN VISHWAS-136
SUITABILITY: Plan is Issued Only to People Who Have Handicapped Dependent. Handicapped Dependent Should be a Relative of the Proposer. PRODUCT: Payment is Made to Nominee Who Will Either be Handicapped Dependent Or Any Other Person. Single Premium Policy Can be Surrendered Any Time After the Policy Has Run for Minimum of 3 Years, 90% of The Total Premium Paid Together With Accrued Guaranteed Additions is Given as Surrender Value. Annuity : Annuity is Paid in One of The Following Options. 1)Annuity For Life 2)Annuity For 5, 10 or 15 Years And For Life Thereafter. 3)Annuity For Life With Return of Notional Purchase Price. MATURITY BENEFIT: Notional Sum Assured = Sum Assured + Accrued Guranteed Addition + Loyalty Addition, if any a)20% of Notional S.A is Paid at Maturity. b)80% of Notional S.A is Utilised to Provide an Immediate Annuity on Handicapped Dependent’s Life. DEATH BENEFIT: On Death of The Policyholder , Nominee Will Get = Sum Assured + Gtd Addition + Loyalty Addition, if any EXAMPLE
Handicapped Dependent Age = 5 Premium Paying Term = 25 Years Premium = Rs 3977 / Year MATURITY BENEFIT: Notional Sum Assured = Rs 2,70,000 a)At Maturity Will Get = Rs 54,000 (immediately) b)Rs 2,16,000 is Utilised to Provide an Immediate Annuity on Handicapped Dependent’s Life. DEATH BENEFIT: If The Policyholder Dies During 10th Year, Nominee Will Get = Rs 1,60,000 | ||||||||||||
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. 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.” All Calculation Given Above are Referal only *Insurance is the subject matter of Solicitation | ||||||||||||
For Any Clarification Contact RAVINDRABALAN. S LIC ADVICER | ||||||||||||
PLANS FOR HANDICAPPED DEPENDENTS
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