LICs Jeevan Varsha

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LICs Jeevan Varsha

• LICs Jeevan Varsha (Plan No196) is a money back
  plan with Guaranteed Additions and
  LoyaltyAdditions

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Jeevan Varshaconvenience, growth risk cover

• Pay premium in convenient yearly, half yearly,
  quarterly or ECS modes
• Get periodic Money-Back installments
• Progressive increase in quantum for Money-Back
  installments
• Constant Risk cover regardless of the Money-Back
  installments paid
• Free risk cover for 3 more years in a 12 year
  term policy
• Guaranteed Additions ensuring guaranteed growth
  regardless of the market conditions. Rs.65
  Rs.70/Rs.1000 of Sum Assured Guaranteed for every
  year of the policy term. The highest ever in a
  Money-Back scheme
• Provision for additional growth depending upon
  the investment experience of LIC, paid out in the
  form of Loyalty Additions

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Guarantees and Tax Benefits

• Sum assured guaranteed!
• Growth guaranteed through guaranteed additions
• Extra growth possibilities ensured through
  loyalty additions
• Tax rebate under sec 80C
• Tax Free Survival Benefits/Maturity under sec
  10(10D)
• Hurry it is close ended last date 31st March
  2009

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Benefits on survival and maturity

• Survival Benefit 9-year plan 12-year plan
• End of 3 years 15 10
• End of 6 years 25 20
• End of 9 years -- 30
• Maturity Benefit 60 40
• Plus Guaranteed Additions 65/1000 70/1000
• for each year of the term
• Plus Loyalty Additions 300/1000 400/1000
• for the last year of the term. Loyalty
  Additions have been estimated using past trends
  and present economic scenario-the actual loyalty
  additions will depend upon the experience of the
  corporation

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Benefits for 9 year term
9 year premium paying term
10
3rd year
20
6th year
60
Guaranteed Additions _at_ Rs.65/Rs.1000 for every
year
Loyalty Additions 300/1000 SA
9th year
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Benefits for 12 year term
9 year premium paying term
10
3rd year
20
6th year
30
9th year
3 year free risk cover
40
Guaranteed Additions Rs.70/Rs.1000 SA for every
year
Loyalty Additions 400/1000 SA
12th year
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Risk Cover

• Death Benefit
• On death during the policy term excluding last
  policy year Sum Assured with accrued Guaranteed
  Additions.
• On death during last policy year Sum Assured
  with accrued Guaranteed Additions along with
  Loyalty Addition, if any.

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Eligibility Conditions and Restrictions

• Minimum Sum Assured Rs.75,000/- for ECS monthly
  mode Rs.50,000/- for other modes
• Maximum Sum Assured No limit
• Minimum age at entry 15 years completed.
• Maximum age at entry
• 66 years (nearest birthday) for policy of term 9
  years
• 63 years(nearest birthday) for policy of term 12
  years
• Maximum age at maturity 75 years nearest
  birthday
• Policy Term 9 12 years
• Premium Paying Term 9 years
• The Sum Assured shall be in multiples of Rs.
  5,000.

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Sample Premium Rates
Age 9 year term 12 year term 30 162.05
165.30 31 162.10 165.40 32 162.15
165.50 33 162.25 165.60 34 162.35
165.70 35 162.45 165.85 36 162.55
166.00 37 162.70 166.20 38 162.85
166.40 39 163.00 166.60 40 163.20 166.90
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Mode of premiums payment and rebates

• Mode of Premium Payment
• Yearly, Half yearly, Quarterly and Monthly
  (through ECS only)
• Mode Rebates
• Yearly mode 2 of tabular premium
• Half-yearly mode 1 of the tabular premium

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Rebate for high Sum Assured

• Sum Assured Rebate on tabular premium per
  thousand Sum Assured
• Less than Rs.1, 00,000/- Nil
• Rs 1, 00,000 and above but less than Rs.2,00,000
  Rs 2.00
• Rs 2, 00,000 and above but less than Rs.5,00,000
  Rs 3.50
• Rs. 5,00,000 and above Rs 5.00

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Other requirements facilities

• Proposal 300 340
• Underwriting as in other non-ulip plans
• (refer actuarial departments instructions)
• Suicide clause as in other non-ulip plans
• Grace period as in other non-ulip plans
• Cooling off period available
• Back dating allowed
• Revival allowed
• Nomination allowed
• Assignment allowed
• Loan available after 3 years
• Surrender allowed after 3 years

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LICs Jeevan Varsha