8/7/2019 LIC KI SIP

1/15

LIC Temporary Assurance certainwithout profits. Table 43

General Conditions:

Min. age at entry: 18 years (lbd).

Max. age at entry: 60 years (lbd).

Min. S.A.: Rs. 3 lakhs

Max. SA : 1 crore.

SA in multiples: 50,000

Max. Maturity age: 62 years.

Modes Allowed: Single only.

Terms Allowed: 6/12/18/24 months

Accident benefit: Not Allowed.

Requirements in writing:

Age proof: Standard.

Form Number: 300/340

Female lives category: I

Dating Back @ 8% : Allowed

Non-Medical General: Not Allowed

Non-Medical Professional: Not Allowed

Non-Medical Special: Not Allowed

Risk Coverage: SA

Actual Sum Assured: Basic SA

8/7/2019 LIC KI SIP

2/15

Policy Servicing:

Term Rider Option: No.

Critical Illness Rider: No.

Policy Loan: No.

Revival: Yes.

Surrender of Policy: No.

Survival Benefits: No.

Assignment: Yes.

Housing Loan: No.

Details:

1. Before completion, age must be admitted.

2. This plan is not allowed to pregant women, physically Handicapped lives and whenoccupational extra chargeable.

3. SA Rebate:

a. 5lacs & above but less than 20 lacs : Re. 1

b. 20 lacs and above but less than 50 lacs: Rs 1.50

c. 50 lacs and above: Rs. 2.00

4. Maturity Benefits: No.

5. Death Benefits: S.A.

6. Other Details:

a. Medical Examination is compulsory, and the proposer is required to pay the medicalexamination fee.

b. Under the without profit plan, the policy will be issued.

c. Policy can be allowed to Standard and sub-standard lives up to class-III.

8/7/2019 LIC KI SIP

3/15

d. In the LAs death occuring within the selected period from the commencement of thepolicy, the SA will be payable.

e. This plan is for insuring non-insurance minded class of lives who require risk coverfor a short period of 2 years or less.

http://www.liclifeinsuranceindia.com/tag/insurance/http://www.liclifeinsuranceindia.com/tag/insurance/

8/7/2019 LIC KI SIP

4/15

Mortgage Redemption Assurance

Mortgage Redemption Assurance policy (Table No. 52) (without profits) is designedto meet the requirements of the policy holding individual who want to ensure that all hisoutstanding loans and debts are automatically paid up in the event of his unfortunatedeath. If you have a home loan or any other loan or debt then this policy is for you.

Under the Mortgage Redemption Assurance policy (without profits), proposar will haveto pay the medical examination fee.

LIC Mortgage Redemption policies are usually issued only to male lives aged 50 yearsor less.

The policies are subject to a condition that the insurance cover would not extendbeyond 65 years. All loans must be liquidated by the time the borrower attains the ageof 65.

Eligibility Conditions and Restrictions for LIC Mortgageredemption:-Minimum Entry age: 20Maximum Entry age: 50Minimum Sum assured (Rs.): 50000(except for single premium)Maximum Sum assured (Rs.): 1000000Maximum Maturity age: 65 yearsSurvival benefits: NAPolicy loan available: NoMode of Payment: Yearly, Half-yearly,Quarterly, Monthly, Salary Saving Scheme

Death Benefit :All outstanding loans declared at the beginning of the financial year would be payableas per the prepared schedule.

http://www.mylicindia.com/mortgage-redemption-assurance/http://www.mylicindia.com/mortgage-redemption-assurance/

8/7/2019 LIC KI SIP

5/15

LIC Anmol Jeevan-1 (without profits).

Table 164

General Conditions:

Min. age at entry: 18 years (completed).

Max. age at entry: 55 years (nbd).

Min. S.A.: Rs. 5 lakhs

Max. SA. (wef 27-2-2006): 24 lakhs

SA in multiples: 1 lakh

Max. Maturity age: 65 years (nbd).

Modes Allowed: Yearly/Half Yearly/Single

Min Term: 5 years.

Max Term: 25 years.

Requirements in writing:

Age proof: Standard (NSAP-I, WR 5 lacs)

Form Number: 300

Female lives category: I/II

Dating Back (No dating back interest is charged): Allowed

Non Medical: NA

8/7/2019 LIC KI SIP

6/15

Policy Servicing:

Term Rider Option: No.

Critical Illness Rider: No.

Policy Loan: No.

Revival: Yes.

Surrender of Policy: No.

Survival Benefits: No.

Key-Main Insurance: Yes.

Grace Period (15 days for Ylt/Hly): Yes.

Paid Up Value: No.

ModeRebate

Yly 1%

Hly Nil

Sum Assured Rebate per 1000 SA: Regular premiums Nil.

Benefits:

Maturity Benefits: No amount will be paid to the policy holder on maturity.

Death Benefits: SA will be paid to the nominee in case of death of the policy holderduring the policy term.

Additional Information:

1. Under Key-Man Insurance, this is the only plan allowed.

2. Plan allowed to standard & sub-standard lives up to class VI EMR.

3. It is the cheapest pure life risk plan.

8/7/2019 LIC KI SIP

7/15

4. Physical Handicapped persons (Group A) can apply for this policy with standard extrarates.

5. In case of sub standard lives, extra premium rates to be charged.

6. For higher EMR, the extra premium will be in multiples of these class I extra rates.

7. No claims concession will be applicable to this policy.

8. On the basis of special reports and medical reports (if any), proposals areconsidered.

9. Persons not eligible for this plan who are in hazardous occupation attracting anoccupation extra of Rs 4. or more per 1000 sum Assured.

10. Under this plan, the basic sum assured will be the basis for Medical Examination

and Sum Under Consideration (SUC).

11. LIC will borne the cost of Medical Examination including Special report.

12. Life Assured will borne the cost in case of revival of the policy.

Example:

Mr. Ravi takes a policy for Rs. 10 lakhs for 20 years under Anmol Jeevan-1. He will notreceive any amount on survival till maturity. But, in case of death during policy term, hisnominee will get Rs 10 lakhs SA

8/7/2019 LIC KI SIP

8/15

LIC Amulya Jeevan. Life Insurance India

Table 190General police condition

Min. age at entry

Max. age at entry

Max. Maturity Age

Minimum Term

Maximum Term

Modes allowed

Minimum S.A

S.A in multiples of

Max. S.A

18 yrs (completed)

60 years (nbd)

70 years (nbd)

5 years

35 years

Yly/Hly/S.p

Rs. 25 Lakhs

1 Lkhs

No Limit

Main Features:

This plan has been re-introduced in place ofAmulya JeevanT-177. Featuresremain almost same except 5% to 10% approx. reduction in premiums.

This is a pure Term Assurance plan like Anmol Jeevan. In this place Min. S.A is 25lakhs ( Under Anmol Jeevan Table 164 only policies with S.A below 25 lakhs areissued).

Other details:

1: Plan is allowed to physically Handicapped persons as per the existing rules.

2: This plan is allowed to persons engaged in hazardous occupation by chargingappropriate occupation extra or with clause 86.

http://www.liclifeinsuranceindia.com/tag/amulya-jeevan/http://www.liclifeinsuranceindia.com/tag/amulya-jeevan/http://www.liclifeinsuranceindia.com/tag/term-assurance/http://www.liclifeinsuranceindia.com/tag/anmol-jeevan/http://www.liclifeinsuranceindia.com/tag/anmol-jeevan/http://www.liclifeinsuranceindia.com/tag/amulya-jeevan/http://www.liclifeinsuranceindia.com/tag/term-assurance/http://www.liclifeinsuranceindia.com/tag/anmol-jeevan/

8/7/2019 LIC KI SIP

9/15

3: proposals are considered on the basis of Medical Reports & Special Reports ( if any).FMR (Full Medical Reports) will be required to be done by divisional Medical Referee(DMR)/Addl. DMR or by Third party Administrators (TPA). FMA from Medical Examinerswith enhanced powers will not be accepted.

4: Cost of Medical Exam. Including Special Reports will be borne by LIC as per rules.

5: SUC will be calculating as per existing rules. For calculating SUC, S.A under this planis to be considered.

6: Extra premium Rates to be charged in case of sub standard lived. The extra premiumRates for higher EMR will be in multiples (as applicable underEndowment plan) ofthese class I extra rates.

7: Grace period: Grace period of 15 days will be allowed for payment of YLY/HLYpremium. If death occurs within this period & before the payment of the premium then

due, the police shall be valid and S.A. shall be payable after the deduction of the saidpremium. If premium are not pain within grace period, policy will lapse.

Maturity Benefits : On maturity no amount will be paid to the policyholder.

Death Benefits : On death of the policyholder during policy term, S.A will be paid to thenominee.

http://www.liclifeinsuranceindia.com/tag/endowment-plan/http://www.liclifeinsuranceindia.com/tag/endowment-plan/

8/7/2019 LIC KI SIP

10/15

Convertible Term Assurance Policy

LIC Convertible Term Assurance Policy (Table No. 58) is a plan with an option toconvert the policy to whole life limited Payment Assurance or Endowment Assurance atany time during the specified term, without under going fresh medical examination.

LIC Convertible Term Assurance Policy is designed to meet the needs of those who areinitially unable to pay the larger premium required for a Whole Life or EndowmentAssurance Policy, but hope to be able to pay for such a policy in the near future. Thisplan is also good if you want to take decision on whole life policy later. May be you canmake better decision in future.Convertible Term Assurance Policy holders get an optionof converting an policy into endowment assurance or limited payment whole lifeassurance.

Death BenefitThe sum assured is payable only in the event of death of the Life Assured before theexpiry of the specified term.

Eligibility Conditions and Restrictions for Convertible Term Assurance:

Minimum Entry age: 20 (nearer birthday)Maximum Entry age: 50Minimum Sum assured (Rs.): 50,000Maximum Sum assured (Rs.): 1 Crore

Minimum Term: 5 yearsMaximum Term: 7 yearsMaximum premium paying period: 55 yearsPolicy loan available: NoSurvival Benefit: NADeath Benefit: Sum AssuredMode of premium Payment: Yearly, Half-yearly,Quarterly, Monthly, Salary SavingScheme.

http://www.mylicindia.com/convertible-term-assurance-policy/http://www.mylicindia.com/convertible-term-assurance-policy/

8/7/2019 LIC KI SIP

11/15

LIC Systematic Investment Plan

The LIC systematic investment plan has a huge appeal with the Indianmasses as the company is a household name. The SIP LIC mutual fundoffers a number of schemes under the titles of equity, debt, balanced,liquid, redeemed and floating. As you already know, LIC is the top insurerin the country. The main features of LIC SIP(Mutual Funds) are-

The LIC mutual funds are ideal for NRIs out of the country to invest.

Invest as minimum as less as Rs.500 or Rs.1000.

LIC offers investor's guide as well as a LIC Mutual Fund Calculator tohelp you calculate your returns.

You can easily plan your retirement or your finance using theplanning medium available on LIC's end.

Since the investment fee is as low as Rs. 500, you can extend yourapproach to 2 to 3 schemes together including a special Children'sinvestment by LIC.

The LIC systematic investment plan through ECS i.e. electronicclearing service or Auto debit is available online and in only available

to the few cities mentioned on the site. Existing customers need not apply through a common form but just

provide their account number.

The LIC mutual funds site promotes a common application form for allits schemes.

Also, along that, is the additional information statement documentthat can be downloaded by an investor to read about the profile of thecompany.

If you wish read about all its schemes, download the whole portfolio

which holds pdf files with details of all the schemes. The LIC websiteis a one stop junction for an investor to know everything about theirSIP plans.

You can either contact the back or agents and brokers to get your LICsystematic investment plans done.

8/7/2019 LIC KI SIP

12/15

ASSIGNMENT NO. 2

ON

LIC Systematic InvestmentPlans

Submitted To:- Submitted By:-

Ms SHWETA SRIVASTAVA SRIJAN Group

HARPREET SINGH (1166)

PUSHKARSRIVASTAVA (1176)

NAVEEN KUMAR (1186)

BHASKAR SARASWATI (1196)

DISHA SRIVASTAVA (1206)

8/7/2019 LIC KI SIP

13/15

SWETA KUMARI (1216)

ARPIT NIGAM (1226)

ANAND VIKARAM SINGH(1236)

SAUDAMINI SINGH (1246)

ICICI Pru LifeStage Wealth II

ICICI Pru LifeStage Wealth IIis a unit linked insurance plan that offers multiplechoices to decide how your savings would be invested based on your risk appetite.Further, it provides you with an insurance cover to help you realize your dreams withoutcompromising your familys protection.

Key benefits of ICICI Pru LifeStage Wealth II

1-Multiple portfolio strategies: Choose a personalized portfolio strategyFrom

a). Fixed Portfolio Strategy: Option to allocate your savings in thefunds of your choice

b). LifeCycle based Portfolio Strategy: A unique and personalizedstrategy to create an ideal balance between equity and debt, based

on your age

c). Trigger Portfolio Strategy: A unique portfolio strategy to protectgains made in equity markets from any future equity market volatilitywhile maintaining a pre-defined asset allocation.

2-Flexible premium payment options: You can either pay premiumthroughout the policy term or for a limited period.

3-Top up: Flexibility to invest surplus money over and above your regularPremiums.

4-Loyalty Additions: Paid at the end of every policy year, starting from theth 10 policy year, on payment of all due premiums.

5-Automatic Transfer Strategy: Helps you eliminate the need to timeyour investment.

6-Tax Benefits: On premiums paid and benefits received, as per prevailing

8/7/2019 LIC KI SIP

14/15

T&C 3 tax laws.

Choice of multiple portfolio strategies:

With ICICI Pru LifeStage Wealth II, you have the option to choose from three

unique portfolio strategies:1. Fixed Portfolio Strategy2. LifeCycle based Portfolio Strategy3. Trigger Portfolio Strategy

8/7/2019 LIC KI SIP

15/15

ICICI Pru LifeStage Wealth II

Minimum Premium

Premium payment option Minimum annual premium (Rs.)

Regular Pay 24,000

Limited Pay 5 48,000

Limited Pay 7 36,000

Limited Pay 10 24,000

Maximum Premium:- Rs. 100,000 per annum for all premium payment options.

Yearly Modes of Premium Payment:- Yearly / Half yearly / Monthly

Policy Term:- 10, 15, 20, 25, or 30 years.

Minimum Premium Rs. 40,000

If Annual Premium Amount: Rs. 1,00,000 so Sum Assured: Rs. 15,00,000

By (10 annual premium) and (+)

(0.5 Policy Term annual premium)Policy Term = 10 Yr

Min / Max Age at Entry:- 7 / 60 years

Min / Max Age At Maturity:- 18 / 75 years

Death Benefit:- In the unfortunate event of death of the Life Assured during the termof the policy, the nominee shall receive Sum Assured.