LIC of India presents KOMAL JEEVAN...LIC of India presents KOMAL JEEVAN 4 14 9642 19080 47700 93,521...

LIC of India presents LIC of India presents KOMAL JEEVANKOMAL JEEVAN

A PLAN

FOR

YOUR

TO

HELP YOU

PROVIDE FOR

HIS/HERYOUR

BELOVED

CHILD

HIGHER

EDUCATION

&

START-IN-LIFE

LIC of India presents LIC of India presents KOMAL JEEVAN (Plan 159)KOMAL JEEVAN (Plan 159)


Thoughts that cross every parent’s mind…….

At what stages in the

growth of my child

will I need to provide

money for higher

education and start-in-life?

When and how will I be

able to save such

money ? Will the

accumulation

be tax-free ?and start-in-life?

Can I plan properly so

that my dreams for my

child do not remain

unfulfilled for want of

sufficient money

Can I insulate my

savings from a desire to

withdraw under one

pretext or another ?


You can plan your

target savings amount

by saving in smaller

annual installments

instead of lump sum

You can create a large

and guaranteed ‘Tax Free’‘Tax Free’

capital for your child

which will help him at

every stage in life.instead of lump sum

Guaranteed sums will be

paid to you at your child’s

age 18, 20, 22, 24 and 26

years. i.e. when money is

needed most for child’s

higher education,

marriage and start-in-life.

Premiums waiver is available

for a small additional

premium, where future

premiums are waived in case

of unfortunate death of

proposer parent and still all

the benefits under the

policy are protected.


Plan Details : : For whom is the plan available?

Children upto 10 years of age

For what sums is insurance

available?

Rs. 1 lakh - Rs. 25 lakhs

For how many years is

premium payable ?

Up to child’s age 18 years.

When does risk commence ?

Two years from the

date of commencement of

the policy

OR Up to child’s age 18 years.

Premium Payment Mode ?

Yly, Hly, Qly, Single Prem.

OR

From policy anniversary

immediately following

completion of 7 years of

age, whichever is later.

Who can propose ?

�� Father

� Mother (with own Income)

� Legal guardian in the

absence of father & mother

Age Premium

Payable

Term

Sum Assured Rs.

1 lakh 2 lakhs 5 lakhs 10 lakhs

0 18 7449 14694 36734 71,814

1 17 7938 15671 39178 76,665

2 16 8490 16775 41937 82,104

3 15 9111 18018 45044 88,229


3 15 9111 18018 45044 88,229

4 14 9642 19080 47700 93,521

5 13 10427 20650 51624 1,01,263

6 12 11336 22467 56168 1,10,230

7 11 12414 24625 61561 1,20,814

8 10 13691 27178 67946 1,33,407

9 9 14680 29157 72892 1,43,256

10 8 16517 32831 82077 1,61,386


If policy is in full force (i.e. premiums

are paid uptodate), payment schedule is

as under.

Example : Sum Assured Rs. 5 lakhs;

Life Assured’s Age : 0 years

Guaranteed Addition :

Rs.75 per thousand Sum

Assured p.a. at the end of

each policy year will be

added provided the policy is

in full force.

This guaranteed is payable

on Death of life assured

% of Sum Assured

payable

On policy

anniversary falling

after child (life

assured) attains age

Rs. 1 lakh

(i.e. 20% of S.A.)

18 years on Death of life assured

(provided the risk has

commenced) or on Maturity.

Loyalty Additions may also be

payable on Maturity or on

Death after risk commences

depending on experience of

the Corporation.

(i.e. 20% of S.A.)

Rs. 1 lakh

(i.e. 20% of S.A.)

20 years

Rs. 1.50 lakh

(i.e. 30% of S.A.)

22 years

Rs. 1.50 lakh

(i.e. 30% of S.A.)

24 years

Rs. 9.75 lakhs

(Guaranteed Addn.)

plus loyalty addition

26 years

Illustration on Komal JeevanIllustration on Komal Jeevan

End of year

Benefit on Survival / Maturity at the end of Year

Guaranteed Variable Total

Scenario 1 Scenario 2 Scenario 1 Scenario 2

Illustrations : Age at entry: 0 years Premium Paying Term: 1 YearSingle Premium: Rs.73,980/- Policy Term: 26 yearsSum Assured: Rs.1,00,000/-

18 20000 0 0 20000 20000

20 20000 0 0 20000 20000

22 30000 0 0 30000 30000

24 30000 0 0 30000 30000

26 195000 0 277000 195000 472000

Illustration on Komal JeevanIllustration on Komal JeevanIllustrations : Age at entry: 0 years Premium Paying Term: 1 Year

Single Premium: Rs.73,980/- Policy Term: 26 yearsSum Assured: Rs.1,00,000/-

YearYear

Total Total

Premium Premium

paid till end paid till end

of yearof year

Benefit on Death during the year (Rs.)Benefit on Death during the year (Rs.)

GuaranteedGuaranteed VariableVariable TotalTotal

Scenario 1Scenario 1 Scenario 2Scenario 2 Scenario 1Scenario 1 Scenario 2Scenario 2

11 7398073980 7398073980 00 00 7398073980 7398073980

22 7398073980 7398073980 00 00 7398073980 7398073980

33 7398073980 7398073980 00 00 7398073980 7398073980

44 7398073980 7398073980 00 00 7398073980 739807398044 7398073980 7398073980 00 00 7398073980 7398073980

55 7398073980 7398073980 00 00 7398073980 7398073980

66 7398073980 7398073980 00 00 7398073980 7398073980

77 7398073980 145000145000 00 1200012000 145000145000 157000157000

88 7398073980 152500152500 00 1600016000 152500152500 168500168500

99 7398073980 160000160000 00 2100021000 160000160000 181000181000

1010 7398073980 167500167500 00 2600026000 167500167500 193500193500

1515 7398073980 205000205000 00 6700067000 205000205000 272000272000

2020 7398073980 242500242500 00 128000128000 242500242500 370500370500

2626 7398073980 287500287500 00 277000277000 287500287500 564500564500

Illustration : Survival BenefitIllustration : Survival Benefit

End of

year

Benefit on Survival / Maturity at the end of Year


Scenario

1

Scenario

2

Scenario

1

Scenario 2

Illustration 2: Age at entry: 0 years Premium Paying Term: 18 yearsAnnual Premium: Rs.7,281/- Policy Term: 26 yearsSum Assured: Rs.1,00,000/-

1 2 1

1820000 0 0 20000 20000

2020000 0 0 20000 20000

2230000 0 0 30000 30000

2430000 0 0 30000 30000

26195000 0 176000 195000 371000

Illustration: Risk CoverIllustration: Risk CoverIllustration 2: Age at entry: 0 years Premium Paying Term: 18 years

Annual Premium: Rs.7,281/- Policy Term: 26 yearsSum Assured: Rs.1,00,000/-

YearTotal

Premium paid till end of year

Benefit on Death during the year (Rs.)


Scenario 1 Scenario 2 Scenario 1 Scenario 2

1 7281 7281 0 0 7281 7281

2 14562 14562 0 0 14562 14562

3 21843 21843 0 0 21843 21843

4 29124 29124 0 0 29124 291244 29124 29124 0 0 29124 29124

5 36405 36405 0 0 36405 36405

6 43686 43686 0 0 43686 43686

7 50967 145000 0 3000 145000 148000

8 58248 152500 0 5000 152500 157500

9 65529 160000 0 8000 160000 168000

10 72810 167500 0 11000 167500 178500

15 109215 205000 0 43000 205000 248000

20 131058 227500 0 71000 227500 298500

26 131058 242500 0 91000 242500 333500

Illustration: Illustration: Assumptions Assumptions

i) This illustration is applicable to a non-smoker male/female standard (from medical, life style and occupation point of view) life.

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 (Scenario 2) respectively. In other words, in preparing this benefit illustration, it is assumed that the Projected Investment Rate of Return that LICI 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 illustration 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.


• Is Medical Examination

required?

� No, it is not required for

this plan.

• When does the policy vest

in the Life Assured.?

� On the policy anniversary

• Is Term Rider Benefit

available ?

� Yes, it is available to the

proposer to the extent of

20% of the basic Sum

Assured under the policy

not exceeding Rs.1 lakh &

payable in case of� On the policy anniversary

immediately after he/she

attains majority

• Can premium waiver be

availed by proposer?

� Yes, upto the proposer’s age

50 years, on payment of

small additional premium.

payable in case of

unfortunate death of the

proposer before the policy

anniversary on which the

child completes 18 years.

• Is Accident Benefit

available under the plan ?

� No

LIC of India presents KOMAL JEEVAN...LIC of India presents KOMAL JEEVAN 4 14 9642 19080 47700 93,521...

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