LIC Temporary Assurance certain

without 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

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 when
occupational 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 medical
examination 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.

d. In the LA’s death occuring within the selected period from the commencement of the
policy, the SA will be payable.

e. This plan is for insuring non-insurance minded class of lives who require risk cover
for a short period of 2 years or less.
 Mortgage Redemption Assurance
Mortgage Redemption Assurance policy (Table No. 52) (without profits) is designed
to meet the requirements of the policy holding individual who want to ensure that all his
outstanding loans and debts are automatically paid up in the event of his unfortunate
death. 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 have
to pay the medical examination fee.

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

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

Eligibility Conditions and Restrictions for LIC Mortgage

redemption:-
Minimum Entry age: 20
Maximum Entry age: 50
Minimum Sum assured (Rs.): 50000(except for single premium)
Maximum Sum assured (Rs.): 1000000
Maximum Maturity age: 65 years
Survival benefits: NA
Policy loan available: No
Mode 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 payable
as per the prepared schedule.
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
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.

Mode
Rebate
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 holder
during 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.

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

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 are
considered.

9. Persons not eligible for this plan who are in hazardous occupation attracting an
occupation 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 not
receive any amount on survival till maturity. But, in case of death during policy term, his
nominee will get Rs 10 lakhs SA
LIC Amulya Jeevan. Life Insurance India
Table 190
General police condition
Min. age at entry 18 yrs (completed)

Max. age at entry 60 years (nbd)

Max. Maturity Age 70 years (nbd)

Minimum Term 5 years

Maximum Term 35 years

Modes allowed Yly/Hly/S.p

Minimum S.A Rs. 25 Lakhs

S.A in multiples of 1 Lkhs

Max. S.A No Limit

Main Features:
This plan has been re-introduced in place of Amulya Jeevan T-177. Features
remain 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 25
lakhs ( Under Anmol Jeevan Table 164 only policies with S.A below 25 lakhs are
issued).

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 charging

appropriate occupation extra or with clause 86.
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 Examiners
with 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 plan
is to be considered.

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

7: Grace period: Grace period of 15 days will be allowed for payment of YLY/HLY
premium. 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 said
premium. 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 the
nominee.
Convertible Term Assurance Policy
LIC Convertible Term Assurance Policy (Table No. 58) is a plan with an option to
convert the policy to whole life limited Payment Assurance or Endowment Assurance at
any 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 are
initially unable to pay the larger premium required for a Whole Life or Endowment
Assurance Policy, but hope to be able to pay for such a policy in the near future. This
plan is also good if you want to take decision on whole life policy later. May be you can
make better decision in future.Convertible Term Assurance Policy holders get an option
of converting an policy into endowment assurance or limited payment whole life
assurance.

Death Benefit
The sum assured is payable only in the event of death of the Life Assured before the
expiry of the specified term.

Eligibility Conditions and Restrictions for Convertible Term Assurance:

Minimum Entry age: 20 (nearer birthday)

Maximum Entry age: 50
Minimum Sum assured (Rs.): 50,000
Maximum Sum assured (Rs.): 1 Crore
Minimum Term: 5 years
Maximum Term: 7 years
Maximum premium paying period: 55 years
Policy loan available: No
Survival Benefit: NA
Death Benefit: Sum Assured
Mode of premium Payment: Yearly, Half-yearly,Quarterly, Monthly, Salary Saving
Scheme.
 LIC Systematic Investment Plan

The LIC systematic investment plan has a huge appeal with the Indian
masses as the company is a household name. The SIP LIC mutual fund
offers a number of schemes under the titles of equity, debt, balanced,
liquid, redeemed and floating. As you already know, LIC is the top insurer
in 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 to
help you calculate your returns.
• You can easily plan your retirement or your finance using the
planning medium available on LIC's end.
• Since the investment fee is as low as Rs. 500, you can extend your
approach to 2 to 3 schemes together including a special Children's
investment by LIC.
• The LIC systematic investment plan through ECS i.e. electronic
clearing 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 all
its schemes.
• Also, along that, is the additional information statement document
that can be downloaded by an investor to read about the profile of the
company.
• If you wish read about all its schemes, download the whole portfolio
which holds pdf files with details of all the schemes. The LIC website
is a one stop junction for an investor to know everything about their
SIP plans.
• You can either contact the back or agents and brokers to get your LIC
systematic investment plans done.
 ASSIGNMENT NO. 2

ON
LIC Systematic Investment
Plans

Submitted To:- Submitted By:-

Ms SHWETA SRIVASTAVA SRIJAN Group

HARPREET SINGH (1166)

PUSHKARSRIVASTAVA (1176)

NAVEEN KUMAR (1186)

BHASKAR SARASWATI (1196)

DISHA SRIVASTAVA (1206)

 SWETA KUMARI (1216)

ARPIT NIGAM (1226)

ANAND VIKARAM SINGH(1236)

SAUDAMINI SINGH (1246)

ICICI Pru LifeStage Wealth II

“ICICI Pru LifeStage Wealth II” is a unit linked insurance plan that offers multiple
choices 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 without
compromising your family’s protection.

Key benefits of ICICI Pru LifeStage Wealth II

1-Multiple portfolio strategies: Choose a personalized portfolio strategy

From

a). Fixed Portfolio Strategy: Option to allocate your savings in the

funds of your choice

b). LifeCycle based Portfolio Strategy: A unique and personalized

strategy to create an ideal balance between equity and debt, based
on your age

c). Trigger Portfolio Strategy: A unique portfolio strategy to protect

gains made in equity markets from any future equity market volatility
while maintaining a pre-defined asset allocation.

2-Flexible premium payment options: You can either pay premium

throughout the policy term or for a limited period.

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

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

5-Automatic Transfer Strategy: Helps you eliminate the need to time

your investment.

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

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 Strategy
2. LifeCycle based Portfolio Strategy
3. Trigger Portfolio Strategy
 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 term
of the policy, the nominee shall receive Sum Assured.