- •Endowment ULIP – A Unique Product From the Market Leader.
- •Flexi Options – Single Premium or Term 10-20 Years.
- •Flexi Options– Settlement Option for Maturity Proceeds.
- •Flexi Options - Flexible Risk Cover.
- •Flexi Options - Four Fund Types.
- •Flexi Options - Min Entry Age – ‘7’ Years (Children’s Risk Plan); Max Entry Age 60 Years.
- •Death Benefit – Higher of BSA or Unit Value
- •Partial Withdrawals & Settlement Options – Money on Demand.
- •Better Allocation Rates; Best CEIS Benefit.
- •Liquidity – Loan after 3 Years; Surrender after 5 years; Anytime, Withdrawals after 5 Years.
- •Flexi Options– Single, Yearly, Half Yearly, Quarterly & Monthly (ECS) Modes of Payment
- •FREE Fund Switches - Four per year
- •Low Cost Insurance – Low Term Cover Cost; DAB @Rs.0.50.
- •Rationalised Charges – Benefit to the Investor.
- •EASY EXIT - No Bid Offer Spread, No Surrender Charges after 5 Years; No Discontinuation Charges for the Single Premium.
- •IT Exemption U/S 80 C of IT Act 1961
- •ULIP where Assignment Permitted.
- •Cooling Off Cancellation Facility.
- •Low Cost Term Assurance + DAB @ Rs.0.50 %0.
- •Mortality Charges on ‘difference’ of the Sum Assured & Fund Value; No charges when Fund Value exceeds BSA.
- •Higher of the ‘Sum Assured’ or the ‘Fund Value’. Fund Value is very high in long term policies. So, Risk Cover is ‘automatically augmented’.
- •Partial Withdrawal Amount shall not be reduced, if not availed within 2 years from death.
- •If the policy is lapsed, the Fund Value of Units is still payable.
- •Riders to Suit Individual Requirements
Showing posts with label Plan 802. Show all posts
Showing posts with label Plan 802. Show all posts
USP of the Endowment Plus plan no 802
ENDOWMENT PLUS (TABLE 802 )
TABLE 802 ENDOWMENT PLUS
Details:
This is a unit linked Endowment Plan, which offers Investment cum Insurance during the term of the policy. Plan is available under Single premium as well as regular mode of premium.
Features & Conditions:
- Minimum age at entry : 7 years lbd
- Maximum age at entry : 60 years nbd
- Minimum Term : 10 years
- Maximum Term : 20 years.
- Minimum Maturity age : 18 years lbd Maximum Maturity age : 70 years nbd
- Single Premium: 30,000
- Regular Premium: 20,000/- p.a. (other then monthly ECS)
- and in multiples of 1000/- thereafter.
- For monthly ECS: 1,750/- and in multiples
- of 250/- thereafter.
Single Premium : No limit Regular Premium: ` 1,00,000
Minimum S.A.:
Single Premium:
Age at entry upto 44 yrs :1.25 times of SP.
Age at entry 45 to 60 yrs :1.10 times of SP.
Regular Premium:
(Policy Term +1) times of AP for all ages.
Maximum S.A. :
Single Premium, without CIR:
Age at maturity upto 65 yrs : 5 times of SP.
Age at maturity 66 to 70 yrs : 3 times of SP.
Single Premium, with CIR:
Age at maturity upto 55 yrs : 5 times of SP.
Age at maturity 56 to 60 yrs : 3 times of SP.
Regular Premium with or without CIR:
Age at entry upto 45 yrs : 30 times of AP.
Age at entry 46 to 60 yrs : 25 times of AP.
S.A should be in multiples of ` 5000 only.
Riders:
Accident Benefit : Available
Permanent Disability : Not Available Term Assurance Rider : Not Available Critical Illness Rider : Available Max 10 lacs
Loan Facility: Available after 3 years, Maximum 30% of Fund Value.
Housing Loan Collateral: Allowed
Mode of y:
Yly, Hly, Qly & Mly ECS.
Tax Benefits u/s 80C : u/s 10(10D)
On Premiums Maturity/Death claim
Underwriting Rules:
Non medical Schemes:
Without CIR : All Allowed including separate limits for Single Premium.
Non-Standard Age proof : Max .S.A. | ||
| SP | AP |
NSAP 1 | 5/3 times | 30/25 times |
NSAP 2 | 4/3 times | 30/22 times |
NSAP 3 | 4/3 times | Not Allowed |
Female Lives : All Allowed
Minor lives : Max rated up S.A. inclusive of all plans Rs. 50 lacs for standard lives only. Sub standard lives at CUS with MM’s recommendation.
Sub Standard Lives: Regular Premium:
Restriction on Max S.A. in multiples of AP and Policy Term as per age at entry and EMR class.
Single Premium:
Restriction on Max S.A. in multiples of SP as per age at Maturity and EMR class.
Actual Sum Assured (ASA):
For Medicals , & Financial Underwriting:
Regular Premium : Basic S.A.
Single Premium : Basic S.A. less SP.
Occupation & Residence Extra:
- For DAB while engaged in police duty: ` 0.25 per 1000 S.A. extra will be charged.
- If standard extra is less then or equal to `5.00 per 1000, then sub standard lives upto EMR class II allowed.
- If standard extra is above `5.00 per 1000, then only standard lives allowed.
NRI’s:
Group I & II: only under single premium. Group III to VIII: Allowed as per Rules.
Dating Back : Not Allowed
Proposal Form : Endowment Plus
For CIR: Only under Regular Mode
Non medical not allowed,
Only NSAP 1 allowed.
Not allowed to minors, female cat III & NRIs
Sub standard lives not allowed.
Other rules of CIR will be applicable.
LIC Online Endowment Plus Plan 802
LIC Online Endowment Plus: Table number 802.
Entry age: 7 to 60 years.
Maturity Age: 18 to 70 years.
Term: 10 to 20 years.
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