Sunday, February 7, 2010

Komal Jeevan - Example Presentation 1


Komal Jeevan

Proposer         : Mr.X        Age: 32 Years
Policy Holder : Mr. Y           Age: 0 Year.

Policy Amount: Rs.1,00,000/-

Policy Term: 18 yrs.

Premium Amounts:

Payment Mode
Premium
Yearly
Rs.7626 /-
Half Yearly
Rs.3852 /-
Quarterly
Rs.1946 /-


Features:

This is an excellent children money back policy with Guaranteed Addition that is highly useful for the higher education of the children balancing the inflation level.

  • The premium amount has to be paid only up to the 18th age of the child.
  • Guaranteed Addition is provided at the rate of Rs.75/- per thousand Sum Assured.
  • Full Sum Assured is returned in regular intervals after the 18th age of the child so that it can be useful for the child’s higher education.





Maturity Benefits:

At the end of Age
18
20
22
24
26
Returns
Rs.20,000/-
Rs.20,000/-
Rs.30,000/-
Rs.30,000/-
Rs.1,95,000/-
+
 LA, if any
(GA+LA, if any)
                                               

What is paid for 26 years
What your child gets
Yearly
Rs.1,37,268/-
-
T.B for 26 years
SA – 1,00,000 (On Regular Returns)+
GA – 1,95,000 (@ Rs. 75 per 1000 SA for 26 years.)+
LA, if any
=
Rs.2,95,000 + LA, if any.

Half Yearly 
Rs.1,38,672/-
-
T.B for 26 years
Quarterly
Rs.1,40,112/-
-
T.B for 26 years
                                                                  
T.B – Tax Benefits: The Net Taxable Annual income can be reduced to a great extent by subtracting the annual premium paid from the net taxable income.

L.A – Loyalty Addition: Based on the experience of LIC this amount will be given.

G.A – Guaranteed Addition: This amount will be given definitely by LIC.          
                       
Policy Holder will also be provided Premium Waiver Benefit + Term Rider Benefit in the given premium amount.

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4 comments:

  1. Your post is great ,very informative and detailed about LIC Komal Jeevan. I stumbled upon something similar that could help the people to plan their insurance according to their needs & budget.

    ReplyDelete
  2. hi samarjeet,
    if u have any information on any lic policies i recommend you to post it. I will try to help you.

    ReplyDelete
  3. which is the best among komal jeevan, jeevan Kishore & jeevan chaya for child insurance

    ReplyDelete