Transcript Plans

K.SANKAR SBA
UNIT MEETING
TOPICS FOR THE DAY
 All the 9-NEW PLANS
 Review of our TEAM’S Performance
 YEARLY GOAL Review
What are the NEW PLANS of LIC ?
 Table-814 - NEW ENDOWMENT PLAN
 Table-815 - NEW JEEVAN ANAND
 Table-816 – NEW BIMA BACHAT
 Table-817 – SINGLE PREMIUM ENDOWMENT PLAN
 Table-818 – NEW JEEVAN NIDHI
 Table-820 – NEW MONEY BACK PLAN (20-YRS)
 Table-821 – NEW MONEY BACK PLAN (25-YRS)
 Table-822 –ANMOL JEEVAN II
 Table-823 – AMULYA JEEVAN II
NEW ENDOWMENT PLAN (814)
NEW ENDOWMENT PLAN (814)
 New Avatar of our most popular Table-14
 Age at Entry: 8-completed
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Max Entry: 55-yrs
Terms: 12 to 35 years only; Max Maturity Age:75
Modes allowed:Yly/Hly/Qly/ECS/SSS. No MONTHLY
Minimum Sum Assured: 1-Lac No Maximum Limit
All Male Lives & Females of all Categories eligible
All Non-Medical Schemes eligible as per rules
All Age-Proofs (Standard, NSAP-1/2/3) acceptable
Service Tax to be borne by Policyholder as per Govt rules
BENEFITS OF TABLE - 814
 Maturity Benefits
 Death Benefits
 Accident Benefit & Disability Benefit (AB & DB)
MATURITY BENEFITS
SUM ASSURED +
REVERSIONARY BONUS +
FINAL ADDITIONAL BONUS (if applicable)
DEATH BENEFIT
 Sum Assured on Death (SAD) + BONUS + FAB
 What is Sum Assured on Death?
 It is:
 Basic Sum Assured (or)
 10-times of Annualized Premium (or)
 105% of the Premiums paid as on date of death;
Whichever is Higher….
ACCIDENT BENEFIT & DISABILITY BENEFIT (AB &DB RIDER)
 AB & DB Rider is nothing but EPDB.
 What is AB & DB Rider?
 Covers Accidental Death as well as Permanent Disability
 If death occurs due to accident, 1-more SA is payable.
 For Permanent Disability of any 2-Limbs due to Accident,
 Future Premium is waived
 Basic SA is given back to the Policyholder in 120-instalments
 Full SA + all other maturity Benefits are given on Maturity.
OTHER FEATUERES OF TABLE - 814
 Loan Facility available after 3-years
 Surrender allowed after 3-years
 Lapsed Policy to be revived within 2-years from FUP
 Commission rates are: 35% in 1st year, 7.5% in 2nd &
3rd and thereafter 5% in subsequent years
 No Foreclosure action is taken for IN-FORCE
policies
 Service Tax to be borne by the Policyholder.
NEW JEEVAN ANAND (815)
NEW JEEVAN ANAND (815)
 New Avatar of our most popular Table-149
 Age at Entry: 18-completed Max Entry: 50-yrs
 Terms: 15 to 35 years only; Max Maturity Age:75
 Modes allowed:Yly/Hly/Qly/ECS/SSS. No MONTHLY
 Minimum Sum Assured: 1-Lac
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No Maximum Limit
All Male Lives & Females of all Categories eligible
All Non-Medical Schemes eligible as per rules
All Age-Proofs (Standard, NSAP-1/2/3) acceptable
Service Tax to be borne by Policyholder as per Govt rules
BENEFITS OF TABLE 815
 Maturity Benefits
 Death Benefits
 Accident Benefit & Disability Benefit (AB & DB)
 FREE RISK COVER after MATURITY
MATURITY BENEFITS
SUM ASSURED +
REVERSIONARY BONUS +
FINAL ADDITIONAL BONUS (if applicable)
DEATH BENEFIT
 Sum Assured on Death (SAD) + BONUS + FAB
 What is Sum Assured on Death?
 It is:
 125% of Basic Sum Assured (or)
 10-times of Annualized Premium (or)
 105% of the Premiums paid as on date of death;
Whichever is Higher….
ACCIDENT BENEFIT AND DISABILITY BENEFIT (AB & DB RIDER)
 AB & DB Rider is nothing but EPDB.
 What is AB & DB Rider?
 Covers Accidental Death as well as Permanent Disability
 If death occurs due to accident, 1-more SA is payable.
 For Permanent Disability of any 2-Limbs due to Accident,
 Future Premium is waived
 Basic SA is given back to the Policyholder in 120-instalments
 Full SA + all other maturity Benefits are given on Maturity.
FREE RISK COVER AFTER MATURITY
 FREE RISK COVER for Basic Sum Assured life-long
 DAB Cover is available up to Age:70
NEW JEEVAN ANAND (815)
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JEEVAN ANAND
IS A
WODERFUL
PLAN
NEW BIMA BATCHAT PLAN (816)
NEW BIMA BATCHAT PLAN (816)
 Single Premium Money Back Plan for 9, 12 & 15 years
 Age at Entry: 15-completed
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Max Entry: 66-yrs
Max Maturity Age:75
Minimum Sum Assured: 35,000/50,000/75,000 (9,12,15)
All Male Lives & Females of all Categories eligible
All Non-Medical Schemes eligible as per rules
All Age-Proofs (Standard, NSAP-1/2/3) acceptable
Service Tax to be borne by Policyholder as per Govt rules
Features and Benefits of 816
 SB of 15% of SA payable every 3-years
 Return of Premium + Loyalty Addition on Maturity
 Death Benefit:
 Within 5-years: SA is payable
 After 5-years: SA + Loyalty Addition is payable
 Loan available after 1-year
 Surrender of Policy can be done ANYTIME.
SINGLE PREMIUM ENDOWMENT (817)
SINGLE PREMIUM ENDOWMENT (817)
 Age at Entry: 90-DAYS completed
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Max Entry: 65-yrs
Terms: 10 to 25 years only; Max Maturity Age:75
Minimum Sum Assured: 50000 No Maximum Limit
All Male Lives & Females of all Categories eligible
All Non-Medical Schemes eligible as per rules
All Age-Proofs (Standard, NSAP-1/2/3) acceptable
Service Tax to be borne by Policyholder as per Govt rules
NEW MONEY BACK PLAN (820)
NEW MONEY BACK PLAN (820)
 Limited Premium money back plan; Term:20; PPT: 15
 Age at Entry: 13-completed
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Max: 50-yrs; Max Maturity:70
Modes allowed:Yly/Hly/Qly/ECS/SSS. No MONTHLY
Minimum Sum Assured: 1-Lac No Maximum Limit
All Male Lives & Females of all Categories eligible
All Non-Medical Schemes eligible as per rules
All Age-Proofs (Standard, NSAP-1/2/3) acceptable
Service Tax to be borne by Policyholder as per Govt rules
BENEFITS of Table No. 820
 Survival Benefits
 Maturity Benefits
 Death Benefits
 Accident Benefit & Disability Benefit (AB & DB)
SURVIVAL BENEFITS
820
 At the end of 5th year: 20% of the Sum Assured
 At the end of 10th year: 20% of the Sum Assured
 At the end of 15th year: 20% of the Sum Assured
MATURITY BENEFITS 820
Balance 40% SUM ASSURED +
REVERSIONARY BONUS +
FINAL ADDITIONAL BONUS (if applicable)
DEATH BENEFIT
820
 Sum Assured on Death (SAD) + BONUS + FAB
 What is Sum Assured on Death?
 It is:
 125% of Basic Sum Assured (or)
 10-times of Annualized Premium (or)
 105% of the Premiums paid as on date of death;
Whichever is Higher….
Accident Benefit & Disability Benefit
(AB & DB Rider)
 AB & DB Rider is nothing but EPDB.
 What is AB & DB Rider?
 Covers Accidental Death as well as Permanent Disability
 If death occurs due to accident, 1-more SA is payable.
 For Permanent Disability of any 2-Limbs due to Accident,
 Future Premium is waived
 Basic SA is given back to the Policyholder in 120-instalments
 Full SA + all other maturity Benefits are given on Maturity.
Other Features of Table-820
 Loan Facility available after 3-years
 Surrender allowed after 3-years
 Lapsed Policy to be revived within 2-years from FUP
 Commission rates are: 28% in 1st year, 7.5% in 2nd & 3rd and
thereafter 5% in subsequent years
 No Foreclosure action is taken for IN-FORCE policies
 Service Tax to be borne by the Policyholder.
NEW MONEY BACK PLAN (821)
 Limited Premium money back plan; Term:25; PPT: 20
 Age at Entry: 13-completed
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Max: 45-yrs; Max Maturity:70
Modes allowed:Yly/Hly/Qly/ECS/SSS. No MONTHLY
Minimum Sum Assured: 1-Lac No Maximum Limit
All Male Lives & Females of all Categories eligible
All Non-Medical Schemes eligible as per rules
All Age-Proofs (Standard, NSAP-1/2/3) acceptable
Service Tax to be borne by Policyholder as per Govt rules
BENEFITS of Table-821
 Survival Benefits
 Maturity Benefits
 Death Benefits
 Accident Benefit & Disability Benefit (AB & DB)
SURVIVAL BENEFITS
 At the end of 5th year: 15% of the Sum Assured
 At the end of 10th year: 15% of the Sum Assured
 At the end of 15th year: 15% of the Sum Assured
 At the end of 20th year: 15% of the Sum Assured
MATURITY BENEFITS
Balance 40% SUM ASSURED +
REVERSIONARY BONUS +
FINAL ADDITIONAL BONUS (if applicable)
DEATH BENEFIT
 Sum Assured on Death (SAD) + BONUS + FAB
 What is Sum Assured on Death?
 It is:
 125% of Basic Sum Assured (or)
 10-times of Annualized Premium (or)
 105% of the Premiums paid as on date of death;
Whichever is Higher….
Accident Benefit & Disability Benefit
(AB & DB Rider)
 AB & DB Rider is nothing but EPDB.
 What is AB & DB Rider?
 Covers Accidental Death as well as Permanent Disability
 If death occurs due to accident, 1-more SA is payable.
 For Permanent Disability of any 2-Limbs due to Accident,
 Future Premium is waived
 Basic SA is given back to the Policyholder in 120-instalments
 Full SA + all other maturity Benefits are given on Maturity.
Other Features of Table No. 821
 Loan Facility available after 3-years
 Surrender allowed after 3-years
 Lapsed Policy to be revived within 2-years from FUP
 Commission rates are: 28% in 1st year, 7.5% in 2nd & 3rd and
thereafter 5% in subsequent years
 No Foreclosure action is taken for IN-FORCE policies
 Service Tax to be borne by the Policyholder.
new jeevan nidhi 818
818- NEW JEEVAN NIDHI
 Eligibility Conditions, Restrictions and Benefits:
 Age at entry: 20 – 58 years N.b.d (for Regular Premium )
 Age at entry: 20 – 60 years N.b.d (for Single Premium)
 Age at vesting: 55 – 65 years
 Deferment term: 7 – 35 years (for Regular Premium )
 Deferment term: 5 – 35 years N.b.d (for Single premium )
 Basic Sum Assured: 1, 00,000 – No limit (Under regular
premium Plan in multiples of 5000)
 Basic Sum Assured: 1, 50,000 – No limit (Under single
premium Plan in multiples of 5000)
new jeevan nidhi 818
 Payment Modes: Single,Yearly, Half yearly, Quarterly,
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Monthly (ECS or salary deduction)
Mode Rebates Yearly 2% of TP, Half Yearly 1% of TP
Basic Sum Rebates For 3,00, 000 & above – Regular Rs. 2.00
/ Single Rs. 3.00 per thousand BSA
ADDB rider (Optional) Rs 1.00 per / Rs 1.50 per thousand
SA. Min. SA 1, 00,000. Opt able any time
Service Tax 2013-2014 First year 3.09% Subsequent
1.545%
Loan Not allowed
Surrender Regular:- After 2 years for Def.
new jeevan nidhi 818
 Single Premium: if within 3 years of DOC then 70% of
Single premium
 Death Benefit**
Before first 5 years : BSA + GA @ 50 per thousand BSA which
is Payable as Lump sum / Annuity OR Partly Lump sum &
Balance as annuity Death Benefit After first 5 years: BSA plus
GA for 5 Years @ 50 per thousand BSA plus Bonus accrued
from 6th year of policy plus Final additional Bonus if any.
(Payable Lump sum / Annuity OR Partly Lump sum & Balance
as annuity) ** Total death benefit at any time shall not be less
than 105% of total premiums paid.
new jeevan nidhi 818
 Benefits on Vesting**
BSA plus GA for 5 Years @ 50 per thousand BSA plus Bonus
accrued from 6th year of policy plus Final additional Bonus if
any. ** Proceeds are Payable in two choices o Purchase an
immediate annuity. From LIC of India only. After commuting
to the extent allowed under IT act. / Without commuting o
Purchase a new single premium deferred pension product from
LIC of India Without commuting ** Provided the amount
required is sufficient to purchase a minimum amount of
annuity .If not it will be paid out in a lump sup
L.I.C’s
TERM INSURANCE PLANS
 PLAN No-822 ANMOL JEEVAN – II
 PLAN No-823 AMULYA JEEVAN – II
Term Assurance Plans: 822 & 823
term assurance plan
 New Anmol JEEVAN II
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Plan No. 822
Anmol jeevan II 822
FEATURES
 Pure Term Assurance Policy
 Low Premium, Low Risk Cover Plan
 Ideal for:
 Youngsters making start-in-life
 People interested in pure risk cover only
Anmol jeevan II 822
DEATH BENEFIT
 Full Sum Assured is paid to the Nominee
in the event of death of the Policy Holder
Anmol jeevan II 822
Features not available in the plan
 Maturity - No Maturity would be given to
the policyholder at the end of the term
 Surrender value - No surrender value will be available
under this plan
 Loan - Loan facility is not available in this plan
 Paid up value -The policy will not acquire any paid up value
Anmol jeevan II 822
PLAN SPECIFICATION
 Minimum Age - 18 (years completed)
 Maximum Age – 55 (nearest birthday)
 Minimum Term – 5
 Maximum Term - 25
 Minimum Sum Assured – 6,00,000
 Maximum Sum Assured – 24,00,000
Anmol jeevan II 822
term assurance plan
 LIC’s New AMULYA
JEEVAN II
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Plan No. 823
Amulya jeevan II 823
FEATURES
 Pure Term Assurance Policy
 Low Premium, High Risk Cover Plan
 Ideal for:
 Youngsters making start-in-life
 People interested in pure risk cover only
Amulya jeevan II 823
Low Cost – benefit
 Cheapest Policy for Risk Cover Purpose
 Risk Cover available till age 70
 Sum Assured is provided to Nominee on death of the
Policyholder
Amulya jeevan II 823
DEATH BENEFIT
 Full Sum Assured is paid to the Nominee
in the event of death of the Policy Holder
Amulya jeevan II 823
Features not available in the plan
 Maturity - No Maturity would be given to
the policyholder at the end of the term
 Surrender value - No surrender value will be available
under this plan
 Loan - Loan facility is not available in this plan
 Paid up value -The policy will not acquire any paid up value
Amulya jeevan II 823
PLAN SPECIFICATION
 Minimum Age - 18 (years completed)
 Maximum Age – 60 (nearest birthday)
 Minimum Term – 5
 Maximum Term - 35
 Minimum Sum Assured – 25,00,000
 Maximum Sum Assured – No Limit
Amulya jeevan II 823
Jeevan Akshay Table No. 189
Jeevan Akshay Table No. 189
K.SANKAR
SBA