Anant P. Singh.(M.D./ C.E.O. Infocare Web Technologies.)

Endowment Plan.Money Back Plan.Whole Life Plan.Term Insurance Plan.Pension Plan’s.ULIP Plan’s.

Jeevan Mitra :- Double/Triple cover.Jeevan Surabhi :- Variant of money back.Jeevan Anand :- Hybrid of Endowment

and whole life.Jeevan Rekha :- Hybrid of whole life and money back.Jeevan Shree :- Variant of limited

payment.

Premium rates are defined per 1000 Sum Assured . One has to decided on sum and term / premium term. Accordingly the premium for his Age is calculated. The contact is for a predetermined period with survival benefit (if any) defined on specific dates.(e.g. 75/20,14/25 etc. )

In most typical plans, Revisionary Bonuses / GA and FAB /LA are added to the policy and provided along with sum assured on maturity. Surrendering early means losing money. But then that in the only way to liquidate cash, otherwise raise loan against your policy.

New trend in Insurance selling. Premium is used for risk cover and investment in mutual fund unit’s. Growth comes though growth’s through NAV’s quite Dynamic in nature. if market are down NAV’s can also have negative growth. Hence risk of losing money too.

To effectively grow the money policy holder must closely watch the trends of the Market and keep switching between funds. Not many people have expertise or the Inclination to monitor their investment at frequent intervals.

Instead of starting with Sum Assured you start by deciding how much Premium you want to invest. Risk Cover is same for all Ages for a specific Mode of premium i.e. for 5000 P.A. the riskcover for Age 20 as well as Age 45 is the same.

A lot of guarantee A smooth returns over the Term. Flexibility of Term. A lot of Liquidity. A higher cover particularly for lower Term’s and higher entry age.

Death benefit. 250 times the maturity premium plus. Returns of premium excluding extra / rider premium and first year premium plus. The loyalty addition if any.

Maturity Benefits. Maturity Sum Assured, Plus. The loyalty addition if any.

For a chosen premium , the level of benefits payable at Maturity (The maturity Sum Assured) will Quated.Policy holder can choose term from 10 years to 35 years.Modes :- Yearly, Half Yearly ,Quarterly , SSS and ECS Monthly.

Minimum age at entry :-Maximum age at entry :-

: 12 Year’s (Completed) : 60 Year’s

Maximum Age at Maturity :- : 70 Year’s

Minimum Term :-Maximum Term :-

: 10 Year’s : 35 Year’s

Minimum premium for entry age 49 year’s as below.

: 250/- Per Month.

Minimum premium for entry age 50 year’s on above.

: 400/- Per Month.

The monthly premium should be in multiple of Rs. 50/-.

Maximum Premium : No Limit

Accidental Benefits (Optional). Term Assurance rider(Optional). Standard term assurance and AB riders sum assured limits apply. The term assurance and AB rider sum

assured will not exceed the death benefit sum assured.

At least 3 year’s premium are paid. Minimum basic annual premium after withdrawal -3000/-

where Age at entry was 49 year’s as below 4800/- where Age at entry was 50 year’s as above. Minimum basic annual premium for withdrawal -1200/-. Withdrawal is multiple of 600/- annual premium. Minimum waiting period between successive withdrawal

1 year. All benefits and premium under the policy will get reduced proportionately.

Policy Term

First Year

2nd & 3rd Year

There After

15 Year’s & Above

25% 7.5% 5%

10 to14 Year’s

20% 7.5% 5%

Bonus Commission

40% of FY Commission.

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