Рет қаралды 31,495
short term plan jeevan utsav
ppt 5 yrs to 16 yrs
lifelong returnsLIC is shortly introducing it's new plan JEEVAN UTSAV.
The few highlights of this plan are as under
🔸 Individual, Savings Whole Life Insurance plan.
🔹 Minimum age at entry: 90 days, Maximum age at entry: 65 years (In Umang it is 55 years)
🔸 Maximum age at the end of PPT - 75 years (In Umang it is 70 years)
🔹 Premium Paying Terms: 5 to 16 years (Minimum PPT for Umang 15 years)
🔸 Deferment Period:
PPT 5 years-5 years,
PPT 6 years-4 years,
PPT 7 years - 3 years,
PPT 8 to 16 years- 2 years
🔹 Income Benefit starts at minimum age of 18 years. (In Umang it is 30 years). Income Benefits payable at the end of the policy year in which it falls due.
🔸 Minimum Sum Assured: 5 Lakhs (In Umang it is 2 lakhs):
However proportionate benefits in Jeevan Utsav is payable where paid up value is equal to or more than ₹2 Lakhs.
🔸 Survival Benefits:
Option I - Regular Income Benefit - 10% of Basic Sum Assured at the end of each policy year
Option II - Flexi Income Benefit - 10% of Basic Sum Assured at the end of each policy year. Flexibility to defer and accumulate such Flexi Income Benefit at 5.5% p.a. compounding yearly for completed months from its due date till the date of withdrawal or surrender or death, whichever is earlier.
🔹 Policyholder on written request can withdraw once in a policy year, a maximum of 75% of balance accumulated Flexi Income Benefit(s) including interest, if any, which has not already been withdrawn and the net amount after withdrawal will continue to accumulate at 5.5% p.a. compounding yearly.
🔸 Loan up to 50% of Flexi income benefit due and not withdrawn is available.
🔸 Death benefit :
Death Benefit = Sum Assured on Death + Accrued Guaranteed Additions
Where "Sum Assured on Death" is defined as the higher of Basic Sum Assured or7 times of Annualized Premium.
Looking at the above benefits, this plan is going to be a superhit plan if marketed wisely and aggressively.
I appeal all team members to make a list of prospects and meet them personally.
Wishing you all the best and make a rocking start
Happy Selling