Jeevan vriddhi 808 plan by.p.t

PLAN TODAY FOR BETTER TOMORROW

Training Materials for Agents

&

Not for Private Circulation

PRESENTED BY:-P.T.PATIL DOLIC HUBLI III


Guaranteed Maturity Insurance Plan

CLOSE ENDED PLAN

FOR LIMITEDPERIOD ONLY

INSIDE STORY OF JEEVAN VRIDDHI


GET MORE WITH LESS INVESTMENT


SUM ASSURED +

GUARANTEEDADDITION

LOYALITY ADDDITION

ON MATURITY

On death, Basic Sum Assured shall be PayableBasic Sum Assured shall be 5 times the Single Premium excluding extra premium

Death Benefit:-


SINGLE PREMIUM

IS NOTHING BUT AN Attractive Guaranteed Discount Over Yearly Premium Payment



Right PlanBest plan for a short-term Life Insurance

with Guaranteed returns.Right TimeWith financial year closing, no better time to invest.

Right TermShort term plan, liquidity available any time.

Right ReturnA return of 12% without any headache + Tax Free return.

Right InsuranceCan be taken for all Individual in a family

Right IdeaFixed deposit + Life Insurance



LIC JEEVAN VRIDDHI is a SINGLE PREMIUM

with No upper limit Life Insurance plan with Guaranteed Maturity Sum Assured and Loyalty

Addition (if any) Though it is mentioned “if any” for Loyalty

Addition, but LIC India has been providing to almost all Insurance plans.


BALANCING IS AN ART OF LIFE


•Building corpus for your child education

•Plan marriage for your Children

•Got Cash, with no/safe Investment ideas

•Looking for a HIGH interest rate around 12%

•Looking for TAX FREE money on Maturity

•Secure your Family life & Retirement life

•Do Not want to RISK with ULIP Plans

•IT rebate available u/s 80c & 10(10)(d).

If you think of below mention, It is advisable to invest in Jeevan Vriddhi



You receive as below on investing your

money into this plan as below:

Maturity Benefit: On maturity, the

Guaranteed Maturity Sum Assured along with Loyalty Addition, if any, shall be payable

Death benefit: On death, Basic Sum Assured shall be payable. The Basic Sum

Assured shall be 5 times the Single Premium excluding extra premium, if any.Loyalty Addition: Depending upon the

Corporation’s experience the policy will be eligible for Loyalty Addition on date of

maturity at such rate and on such terms as may be declared by the Corporation.



Loan :- Facility is available under this plan, after

completion of one policy year (approx 63% of premium paid).

Surrender Value:The policy can be surrendered for cash after the

policy has run for at least one year. The minimum Guaranteed Surrender Value allowable is equal to 90% of the Single premium paid excluding extra

premium, if any.Corporation may however pay Special Surrender

value as applicable on the date of surrender provided the same is higher than the Guaranteed Surrender Value.

The Special Surrender Value will be the discounted value of the Guaranteed Maturity Sum

Assured as on date of surrender.Back Dating is Allowed



Guaranteed Maturity Sum Assured or each Age at entry perRs.1000 Single Premium (exclusive of Service Tax )as under



Service Tax @ 1.545 % on

Premium.

Others

Min -150,000/-

Max- No upper limit.

Sum Assured

Minimum- Rs.30,000/- ( in

multiples of 1000)

Premium

SinglePremium Mode

10 yearsPolicy Term

8 years to 50 yearsAge at entry

DescriptionCondition

Who can take the Policy


(Only age at entry i.e 8 years in on lbd basis, all

other ages will be as per age nbd only)


Incentive For Higher Premium




Non Medical SchemesNMG, NMS and NMG (Professional)

50,0003,00,00046 to 50

75,0004,00,00036 to 45

1,00,0005,00,00018 to 35

NSAP-II

and

NSAP-III

Std Age

Proof and

NSAP-I

Age

Underwriting Rules:


Underwriting Rules:


Applicable to Minors, Male & Female Lives-Cat.I, II, & III.

2 Lacs2.5 Lacs0.50 Lacs46-50 yrs



49.96 Lacs62.45 Lacs12.49 Lacs

( with Juvenile

FMR)

8-17 yrs

8 Lacs10 Lacs2 Lacs10-17 yrs

25.00 Lacs31.25 Lacs6.25 Lacs8 & 9 Yrs

SUCMAX. SA ALLOWED

MAX. Single Premium

ALLOWED

AGES


Underwriting Rules:


These are exclusive limits for single

premium and not to be clubbed with regularpremium plans. ASA under single premium

plans taken during last one year only willbe added for purpose of SUC.

Non-Standard Age proof: All Allowed

Female Lives : All AllowedMinor lives : Only standard lives

with standard age proof only.Non-Medical for minors:Age 8 and 9 : 25 lakhs.

Age 10 to 17 : 8 lakhsSub Standard Lives: All allowed


Underwriting Rules:


Actual Sum Assured (ASA) for SUC:

For Non-Medical, Medical, Special

Reports and Financial Underwriting:4 times of Single Premium Paid

excluding Extra Premium charged and Service tax paid.

Occupation Extra:7.2 times of applicable extra.

NRI’s:

Allowed to all Residence Groupsincluding Foreign Nationals of Indianorigin without charging any extra.



Riders:Accident Benefit : Not AvailablePermanent Disability : Not Available

Term Assurance Rider : Not AvailableCritical Illness Rider : Not Available

Dating Back: Allowed @10% inexcess of one month, without lean

months benefit.

Proposal Form : 300, 340 or 360

Underwriting Rules:


Best Bank Fixed Deposit Rates – March 2012

15,9919.50%State Bank of

Travancore

15,9919.50%Punjab & Sind Bank

15,9919.50%IDBI Bank

16,0699.60%South Indian Bank

16,38610.00%Tamilnad

Mercantile Bank

Maturity Amount for Rs.

10,000

Interest Rate

(%)Banks

Best Fixed Deposit Rates for Tenure of 5 Years


7.48%Actual IRR

19,95,557Net in hand

4,26,667TDS @ 30%

24,22,2242217,13910

22,17,1392066,8699

20,29,4181887,5528

18,57,5911723,7917

17,00,3121574,2396

15,56,3501437,6615

14,24,5771312,9324

13,03,9601199,0253

11,93,5561095,0002

10,92,5001000,0001

Amt at yr endPrincipalYR

Rs. 10 Lac in Bank FD @ 9.25%

FIXED DEPOSITE EARNING


NAME OF PROPOSER xAGE OF PROPOSER 30PREMIUM(BASIC INVESTED AMOUNT) 100000.00TOTAL PREMIUM (INCL SERVICE TAX) 101545.00GURANTEED MATURITY SUM ASSURED 199985.00ADDITION LOYALITY ADDITION 24998.00TOTAL YIELD ON MATURITY 224983.00IRR(PRE TAX) 8.28%IRR(POST TAX -10% SLAB) 9.41%IRR(POST TAX -20% SLAB) 10.68%IRR(POST TAX -30% SLAB) 12.14%BANK FD YIELD(POST TAX - 10% SLAB) 228000.00BANK FD YIELD(POST TAX - 20% SLAB) 213778.00BANK FD YIELD(POST TAX - 30% SLAB) 199556.00BANK FD IRR(POST TAX -10% SLAB) 9.55%BANK FD IRR(POST TAX -20% SLAB) 10.12%BANK FD IRR(POST TAX-30% SLAB) 10.80%

Free Risk cover of 5 TIMES OF BASE PREMIUM.On death- SUM ASSURED IS payable whereas in Bank FD only

accumulated value paid with deduction of TDSEasy Liquidity – Loan/Surrender after 1 yr.

Loan@ 10.25% as against >14% in the banks.

JEEVAN VRIDDHI YIELD CALCULATOR


8.65%IRR (compounding annually)

22,60,664Total Returns

2,51,185Loyalty

7.39%IRR on Gtd. Mty Sum Assured

20,09,479Guaranteed Maturity Benefit

9,85,450Net outgo

30,000Tax Rebate @ 30% for 1 Lac

10,15,450Premium

50,00,000Sum Assured

Rs. 10 Lac in Jeevan Vriddhi at age 25 Yrs

JEEVAN VRIDDHI EARNING


Apart from

RETURN ON INVESTMENTthe customer gets

Free Risk Cover of 50,00,000.

On Death- 50 Lacs Payable whereas in Bank FD accumulated value paid with deduction of TDS

Easy Liquidity – Loan/Surrender after 1 yr.

Loan@ 10.25% as against >14% in the banks.

Business takes loan from LIC or OD from bank.

Claim it as expense u/s 37(1)

JEEVAN VRIDDHI EARNING IMPACT


Planning to Insure Your Business

7.06%IRR Compounding on Net Outgo - post tax

19,49,193/-Net Receivable

4,00,176/-Tax on interest from NSC @ 30% of 13,33,919/-

23,49,369/-Proceeds at the end of 10 yrs

8.75%Interest declared for current yr

10,15,450/-Amount invested in NSC

9.48%IRR (compounding annually)

22,60,664/-Total Proceeds

2,51,185/-Loyalty Addn.

8.20%IRR on Gtd Mty SA

20,09,479/-Gtd Mty Sum Assurred

9,13,800/-Actual Investment

71,650/-Term Assurance Prem (as per 190–S P for term 10 yrs)

9,85,450/-Net Outgo

30,000/-Tax rebate @ 30%

10,15,450/-Premium

50,00,000Risk Cover (Sum Assured)

JEEVAN VRIDDHI v/s NSC

for 10 yrs at age 25 yrs- Amt invested-10 Lacs


START EARLY REACH EARLY

RETURNS DEPENDS ON AGE AT THE TIME OF INVESTMENT


Apart from Individual Assessment:-

You can make the provision under MWP ACT

You can take the policy under HUFYou can make the provision under E&E INSURANCE

YOUR ONE DECESION WILL CHANGE YOUR LIFE


Planning to Insure Your Business

The views mentioned above are of the author only.

Data and charts, if used, in the article have been

sourced from available information and has not been

authenticated by any statutory authority. The authors

do not claim it to be accurate nor accept any

responsibility for the same

The views mentioned above are of the author only.

Data and charts, if used, in the article have been

sourced from available information and has not been

authenticated by any statutory authority. The authors

do not claim it to be accurate nor accept any

responsibility for the same


PRESENTED BY:-P.T.PATIL DOLIC HUBLI III

MOBILE NO:09448133179E-Mail:[email protected]

Sleep Better at Night

With

Right Financial Planning

Economy & Finance

Jeevan vriddhi 808 plan by.p.t