Jeevan utsav SP

LIC’s Jeevan Utsav Single Premium(Plan No. 883) Kumar Saheb Singh, Pune 1.

LIC’s Jeevan Utsav Single Premium(Plan No. 883) 2.

LIC’s Jeevan Utsav Single Premium(Plan No. 883)  LIC’s Jeevan Utsav Single Premium (Plan No. 883) is a Non Par, Non Linked, Individual, Savings, Whole Life Insurance plan.  It is a Single Premium plan with accrual of Guaranteed Additions during Guaranteed Addition Period. Proposer can choose Guaranteed Addition Period from 7 years to 17 years.  Further, the proposer can also choose one of the following Survival Benefit Options at inception:  Option I Regular Income Benefit  Option 2 Flexi Income Benefit.

[Audio] About The Plan  It’s a One Time Investment with Attractive Guaranteed Additions  Investment options are available for a wide range of Age Group from 30 Days to 65 Years.  The plan provides Guaranteed Income from the age of 18 years and upto 100 Years.  Flexi Income Benefit : Option to Defer and Accumulate the Income at an Attractive Interest Rate of 5.5% Compounding Yearly.  Flexibility to Withdraw the Deferred Income as per One’s Need.  Attractive High Sum Assured Rebate.  Additional Liquidity in the form of Loan.

[Audio] Benefits Under the Base Plan Death Benefit: On death of the Life Assured Where “Sum Assured on Death” is defined as the higher of: Basic Sum Assured or 1.25 times of Tabular Single Premium. Under Option 2 Flexi Income Benefit, in addition to above any accumulated value of Flexi Income Benefit(s) due and not withdrawn shall also be payable..

[Audio] Benefits Under the Base Plan Maturity Benefit: On the life assured surviving to the end of the policy term, Where “Sum Assured on Maturity” is defined as the higher of: Basic Sum Assured or 1.25 times of Tabular Single Premium. Under Option 2 Flexi Income Benefit, in addition to above, any accumulated value of Flexi Income Benefit(s) due and not withdrawn shall also be payable..

[Audio] Guaranteed Additions The Guaranteed Additions shall accrue at the rate of Rs. 40 per thousand Basic Sum Assured at the end of each policy year during the Guaranteed Addition Period..

[Audio] Survival Benefit Option I Regular Income Benefit: On survival of Life Assured, Regular Income Benefit equal to 10% of Basic Sum Assured shall be payable at the end of each policy year. Option 2 Flexi Income Benefit: On survival of Life Assured, the policyholder shall be eligible for Flexi Income Benefit equal to 10% of Basic Sum Assured at the end of each policy year starting from the year as specified. Each Flexi Income Benefit shall be deferred and accumulated at the accumulation rate of 5.5% p.a. compounding yearly for completed months from its due date till the date of withdrawal or surrender or death or maturity, whichever is earlier..

[Audio] When Does it Start: Regular Income Benefit Benefit Start Year Guaranteed Addition Period 8th Policy Year 7 Years 9th Policy Year 8 Years 10th Policy Year 9 Years 11th Policy Year 10 Years 12th Policy Year 11 Years 13th Policy Year 12 Years 14th Policy Year 13 Years 15th Policy Year 14 Years 16th Policy Year 15 Years 17th Policy Year 16 Years 18th Policy Year 17 Years.

[Audio] Plan Parameters: 30 Days Minimum Age at Entry 65 Years(N-B-D--) Maximum Age at Entry 18 Years (Completed) Minimum Age on Due Date of First Regular /Flexi Income Benefit Single Premium Premium Paying Term 100 Years Age at Maturity (100 – Age at Entry) Years Policy Term Rs. 500000/Minimum Basic Sum Assured No Limit Maximum Basic Sum Assured B-S-A Multiple B-S-A Range Basic Sum Assured Multiples Rs. 25000 Rs. 500000 to Rs. 2450000 Rs. 50000 Above Rs. 2450000.

[Audio] GA Period: Minimum Age at Entry Guaranteed Additions Period (In Years Minimum Age At Entry(Completed) 17 30 Days Guaranteed 16 1 Years 15 2 Years Additions shall Accrue @ Rs. 14 3 Years 13 4 Years 12 5 Years 40/ per Thousand Basic Sum Assured 11 6 Years during the Guaranteed 10 7 Years Addition Period 9 8 Years 8 9 Years 7 10 Years.

[Audio] Optional Riders LIC’s Accidental Death and Disability Benefit Rider And LIC’s New Term Assurance Rider.

[Audio] Settlement Option  Maturity Benefit in Instalments for a period of 5/10/15 Years.  In Case of Maturity, the option is to be excercised 3 months before Maturity .  If withdrawal from Settlement is opted, Life Assured can commute the balance outstanding instalments.  During Instalments payments, on Death of Life Assured, nominee will continue to receive the instalments, no alteration is allowed..

[Audio] Rebates High Sum Assured Rebate Rebate on Tabular Premium per Rs. 1000 B-S-A Basic Sum Assured (In Rs.) Age at Entry 5000000 & 500000 to 1000000 to 2500000 to 975000 2450000 4950000 Above 21.00 19.00 11.00 Nil 0 20 Yrs 18.00 15.00 9.00 Nil 21 40 Yrs 13.00 12.00 6.50 Nil 41 55 Yrs 10.00 9.00 5.00 Nil 55-65 Yrs.

[Audio] Rebates Incentive to Existing Policyholders Rebate( Per Rs. 1000 B-S-A Category of Policy Holders Existing Policyholders having Guaranteed Per Rs. 1000 Policy Matured within 1 year before Addition Period(In B-S-A Registration of Proposal Years) OR Purchased by Nominee/Beneficiary 0.80 7 to 9 Years of Deceased Policyholder where death is within 1 year of registration 0.90 10 to 14 Years of Proposal OR Purchased by existing Policyholder 1.00 15 to 17 Years having In Force Policy.

[Audio] Example : Option I Regular Income Benefit Maturity Benefit SB as % of Prem SB GA GA Period BSA(Lacs) Single Prem Age 1422063 12.37 100000 40000 808650 10 Lacs 10 Yrs 25 1422063 12.37 100000 40000 808650 10 Lacs 10 Yrs 35 1422063 12.33 100000 40000 811150 10 Lacs 10 Yrs 45 Maturity Benefit SB as % of Prem SB GA GA Period BSA(Lacs) Single Prem Age 1680000 18.77 100000 40000 532900 10 Lacs 17 Yrs 25 1680000 18.58 100000 40000 538200 10 Lacs 17 Yrs 35 1680000 17.93 100000 40000 557750 10 Lacs 17 Yrs 45.

[Audio] Example : Option 2 Flexi Income Benefit Age : 30 Years. SA : 10 Lacs Guaranteed Addition Period: 7 Years. Withdraw ₹150000 every year from Age 46 with more Death Benefit Age Interest Balance Amount Policy year Total Amount Amount at End of the Death Benefit Amount at Beginning of the Year Addition at Beginning of the Year Withdrawn at Beginning Year During the of the Year Year 1380000 105500 5500 100000 0 100000 100000 0 16 46 1485500 216803 11303 205500 0 205500 100000 105500 17 47 1596803 334227 17424 316803 0 316803 100000 216803 18 48 1714227 458109 23882 434227 0 434227 100000 334227 19 49 1838109 588805 30696 558109 0 558109 100000 458109 20 50 1968805 726689 37884 688805 0 688805 100000 588805 21 51 2106689 872157 45468 826689 0 826689 100000 726689 22 52 2252157 1025626 53469 972157 0 972157 100000 872157 23 53 2255626 1029285 53659 975626 150000 1125626 100000 1025626 24 54 2259285 1660803 86582 1574220 150000 1724220 100000 1624220 69 99 1760803 100000 1660803 70 100 1280000 S-S-V at Age 100 = 100% of (SA plus GA) 3040803 Total Surrender Value at Age 100.

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