LIC Pension Plus Plan Features Benefits Benefit Illustration licindia.in

LIC Pension Plus Plan Features Benefits Benefit Illustration licindia.in 

LIC Pension Plus Plan Features licindia.in

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDERLIC’s Pension Plus is a unit linked deferred pension plan, which provides you a minimum guarantee on the gross premiums paid. The plan is without any life cover. 
You have a choice of investing your premiums in one of the two types of investment funds available. Premiums paid after deduction of allocation charge will purchase units of the Fund type chosen. The Unit Fund is subject to various charges and value of units may increase or decrease, depending on the Net Asset Value (NAV).
1. Payment of Premiums: You may pay premiums regularly at yearly, half-yearly or   quarterly or monthly (through ECS mode only) intervals over the term of the policy. Alternatively, a Single premium can be paid.
A grace period of 30 days will be allowed for payment of yearly or half-yearly or quarterly premiums and 15 days for monthly (through ECS) premiums.
2 . Eligibility  Conditions  And  Other  Restrictions:
a)  Minimum Entry Age - 18 years (last birthday)
b)  Maximum Entry Age - 75 years (nearest birthday)
c)  Minimum Vesting Age  - 40 years (completed)
d)  Maximum Vesting Age -  85 years (nearest birthday)
e)  Minimum Deferment Term  -  10 years
f)   Sum Assured - NIL
g)  Minimum Premium -
Regular premium (other than monthly (ECS) mode) : Rs. [15,000] p.a.
Regular premium (for monthly (ECS) mode) : Rs. [1,500] p.m. 
Single premium:  Rs. [30,000] 
h)  Maximum Premium -
Regular premium : Rs. [1,00,000] p.a.
Single premium: No Limit
Annualized Premiums shall be payable in multiple of Rs. 1,000 for other than ECS monthly. For monthly (ECS), the premium shall be in multiples of Rs. 250/-.
3. Charges under the Plan:
A) Premium Allocation Charge: This is the percentage of the premium deducted towards charges from the premium received. The balance constitutes that part of the premium which is utilized to purchase (Investment) units for the policy. The allocation charges are as below:

 For Single premium policies:  3.3%
 For Regular premium policies:


Premium
Allocation Charge
First Year
6.75%
2nd to 5th Year
4.50%
thereafter
2.50%
Allocation charge for Top-up: 1.25%

B) Other Charges: The following charges shall be deducted during the term of the policy:
  1. Policy Administration charge:  Rs. 30/- per month during the first policy year and Rs 30/- per month escalating at 3% p.a. thereafter, throughout the term of the policy shall be levied.

  2. Fund Management Charge –It is a charge levied as a percentage of the value of units at following rates:

    0.70% p.a. of Unit Fund for “Debt” Fund
    0.80% p.a. of Unit Fund for “Mixed” Fund
    Fund Management Charge shall be appropriated while computing NAV.
  3. Switching Charge –This is the charge levied on switching of monies from one fund to another. Within a given policy year 2 switches will be allowed free of charge. Subsequent switches in that year shall be subject to a switching charge of Rs. 100 per switch.

  4. Bid/Offer Spread – Nil.
  5. Discontinuance Charge – The discontinuance charge for regular premium policies is as under:

    Where the policy is discontinued during the policy year Discontinuance charges for the policies having annualized premium up to Rs. 25,000/- Discontinuance charges for the policies having annualized premium above Rs. 25,000/-
    1
    Lower of 10% * (AP or FV) subject to a maximum of Rs. 2500/-
    Lower of 6% * (AP or FV) subject to maximum of Rs. 6000/-
    2
    Lower of 7% * (AP or FV) subject to a maximum of Rs. 1750/-
    Lower of 4% * (AP or FV) subject to maximum of Rs. 5000/-
    3
    Lower of 5% * (AP or FV) subject to a maximum of Rs. 1250/-
    Lower of 3% * (AP or FV) subject to maximum of Rs. 4000/-
    4
    Lower of 3% * (AP or FV) subject to a maximum of Rs. 750/-
    Lower of 2% * (AP or FV) subject to maximum of Rs. 2000/-
    5 and onwards
    NIL
    NIL
          
    AP – Annualised Premium
    FV – Policyholder’s Fund Value excluding the fund value in respect of Top-up premiums paid, if any, on the date of discontinuance.
    There shall not be any discontinuance charge under Single Premium
     
  6. Service Tax Charge – A service tax charge, if any, will be as per the service tax laws and rate of service tax as applicable from time to time.
  7. Miscellaneous Charge – This is a charge levied for change in premium mode, if opted for by the policyholder during the deferment term. An alteration may be allowed subject to a charge of Rs. 50/-.
C)  Right to revise charges: The Corporation reserves the right to revise all or any of the above charges except the premium allocation charge, with the prior approval of IRDA.
Although the charges are reviewable, they will be subject to the following maximum limit:

- Policy Administration Charge Rs. 60/- per month during the first policy year and Rs. 60/- per month escalating at 3% p.a. thereafter, throughout the term of the policy

- Fund Management Charge: The Maximum for each Fund will be as follows:
  1. Debt Fund: 1.20% p.a. of Unit Fund
  2. Mixed Fund: 1.30% p.a. of Unit Fund
- Switching Charge shall not exceed Rs. 200/- per switch.
- Miscellaneous Charge shall not exceed Rs. 100/- each time when an alteration is requested. In case the policyholder does not agree with the revision of charges the policyholder shall have the option to withdraw the Policyholder’s fund value which shall be utilised to provide an annuity.
4. Discontinuance of Premiums: If you fail to pay premiums under the policy within the days of grace, a notice shall be sent to you within a period of fifteen days from the date of expiry of grace period to exercise one of the following options within a period of thirty days of receipt of such notice:
  1. Revival of the policy, or
  2. Complete withdrawal  from the policy
During the notice period of 30 days, the policy shall be treated as in force till the date of discontinuance of the policy (i.e. till the date on which the intimation is received from the policyholder for complete withdrawal of the policy or till the expiry of the notice period) and the charges shall be taken, as usual.

If you do not exercise any option within the stipulated period of 30 days, you shall be deemed to have exercised the option of complete withdrawal from the policy. There shall be no change in payments of benefits during the notice period.
The benefits payable when you exercise the option for complete withdrawal or you do not exercise any option during the notice period shall be as under:
If the policy is discontinued within 5 years from the date of commencement of the policy: If you exercise the option for complete withdrawal from the policy, or you do not exercise the option within the period of 30 days of receipt of notice, then the policy shall be compulsorily terminated. The Policyholder’s Fund Value as on the date of discontinuance of policy after deducting the Discontinuance Charge shall be converted into monetary terms as specified below and Proceeds of the discontinued policy as specified below will compulsorily be utilized to provide an annuity, and shall be payable after completion of 5 years from the date of commencement of the policy.
If the policy is discontinued after 5 years from the date of commencement of the policy: If you exercise the option for complete withdrawal from the policy, or you do not exercise the option within the period of 30 days of receipt of notice, then the policy shall be compulsorily terminated and Policyholder’s Fund value will compulsorily be utilized to provide an annuity.
5. Method of calculation of Monetary amount and Proceeds of the Discontinued Policy: The conversion to monetary amount shall be as under:
The NAV on the date of application for surrender or as on the date of discontinuance of the policy (in case of complete withdrawal of the policy), as the case may be, multiplied by the number of units in the Policyholder’s Fund Value as on that date will be the monetary amount.
The Proceeds of the Discontinued Policy shall be calculated as under:
The monetary amount calculated as above shall be transferred to the Discontinued Policy Fund. This Fund will earn a minimum interest rate of 3.5% p.a. from the date of discontinuance of the policy to the date of completion of 5 years from the commencement of the policy. In case of death of the life assured, the interest shall accrue from the date of discontinuance of the policy to the date of booking of liability. The Proceeds of the discontinued policy shall be the monetary amount plus the interest accrued on the Discontinued Policy Fund.

6. Other Features:
i ) Guaranteed Maturity Proceeds: If all due premiums are paid till maturity, a guaranteed interest shall accrue on the gross premium, including Top-up premiums if any, at the end of each financial year. The guaranteed interest rate shall be 50 basis points above the average of the reverse repo rate prevailing as on the last working day of June, September, December and March of the preceding year. However, the guaranteed interest rate shall be subject to a maximum of 6% and a minimum of 3%. This guaranteed interest rate is not applicable to a discontinued policy.
The minimum guaranteed rate of 4.5% p.a. is applicable to all premiums received up to 31st March, 2011, including any Top-up premiums paid.

ii )Guarantee of interest rate on Discontinued Policy Fund: A guaranteed minimum interest rate of 3.5% p.a. shall be credited to the Discontinued Policy Fund constituted by the fund value of all discontinued policies.
iii ) Top-up (Additional Premium) : You can pay additional premium in multiples of Rs.1,000 without any limit at anytime during the term of policy. Top-up shall not be allowed during the last 5 years of the contract. In case of yearly, half-yearly, quarterly or monthly (ECS) mode of premium payment such Top-up can be paid only if all premiums have been paid under the policy.

iv) Switching: You can switch between the two fund types during the policy term subject to switching charges, if any.
v) Partial Withdrawal: No partial withdrawal of units will be allowed under this plan.

vi) Revival: If due premium is not paid within the days of grace, a notice shall be sent to you within a period of fifteen days from the date of expiry of grace period to exercise the option for revival within a period of thirty days of receipt of such notice. If you exercise the option to revive the policy, then the arrears of premium without interest shall be required to be paid.

The Corporation reserves the right to accept the revival at its own terms or decline the revival of a policy.
Irrespective of what is stated above, if the Policyholder’s Fund Value is not sufficient to recover the charges during the notice period, the policy shall terminate and thereafter revival will not be allowed.

vii) Conversion to annuity: The benefit amount, payable in case of surrender or on discontinuance of premium or on vesting, shall compulsorily be utilized to provide an annuity subject to the following conditions:
1. You will have an option to commute upto a maximum of one third of the

a) Higher of Policyholder’s Fund Value and Guaranteed Maturity Proceeds, in the event of vesting, or
b) Proceeds of the discontinued policy, if policy is discontinued or surrendered within 5 years from the date    of commencement of policy, or
c) Policyholder’s Fund Value, if policy is discontinued or surrendered after 5 years from the date of    commencement of policy,
whichever is applicable.
The commutation will be allowed provided the balance amount is sufficient to purchase a minimum amount of annuity as per the provisions of section 4 of Insurance Act, 1938 as applicable on the date of payment of annuity. 
The balance amount shall compulsorily be utilised to provide an annuity based on the then prevailing immediate annuity rates under the relevant annuity option.

2. The minimum amount of annuity payable shall be subject to the provisions of section 4 of Insurance Act, 1938 as applicable on the date of payment of annuity. In case the applicable amount as mentioned in (a) to (c) of Para 10.vii) above is insufficient to purchase the minimum amount of annuity, then the said amount shall be refunded as a lump sum to you.
3. You shall have an option to purchase immediate annuity from any other life insurance company “registered with IRDA” subject to Regulatory provisions. In such cases, LIC will transfer your fund amount directly to the chosen Insurer.
If you opt to purchase immediate annuity from any other life insurance Company, you would be required to inform your such intention to the Corporation six months prior to the vesting date.

7. Reinstatement:
A policy once surrendered cannot be reinstated.

8. Risks borne by the Policyholder:
  1. LIC’s Pension Plus is a Unit Linked Life Insurance product which is different from the traditional insurance products and is subject to the risk factors.
  2. The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.
  3. Life Insurance Corporation of India is only the name of the Insurance Company and LIC’s Pension Plus is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.
  4. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document of the insurer.
  5. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.
  6. All benefits under the policy are also subject to the Tax Laws and other financial enactments as they exist from time to time.
9. Cooling off period: If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to us within 15 days. The amount to be refunded in case the policy is returned within the cooling-off period shall be determined as under:
Value of units in the Policyholder’s Fund
Plus unallocated premium.
Plus PolicyAdministration charge deducted      
Less charges @ Rs. 0.20 per thousand of Total Premiums payable during entire term of policy

10. Loan:
No loan will be available under this plan.

11. Assignment:
Assignment shall not be allowed under this plan.


LIC Pension Plus Plan Benefits licindia.in 

A) Death Benefit:
The Policyholder’s Fund Value shall be payable either in a lump sum or as an annuity, as desired by the nominee.
The amount of annuity will depend on the payable lump sum and the then prevailing immediate annuity rates under the annuity option chosen.

B) Benefit  on Vesting:
On your surviving to the date of vesting, the higher of Policyholder’s Fund Value and Guaranteed Maturity Proceeds, as defined under para 10(i), will compulsorily be utilised to provide an annuity based on the then prevailing immediate annuity rates under the relevant annuity option.  However, you may opt to commute up to one-third of the Benefit to be paid as a lump sum. Further, you may choose to purchase annuity from LIC or other life insurance company.
1.Investment of Funds: The plan offers following two funds detailed below:
Fund Type Investment in Government / Government Guaranteed Securities / Corporate Debt Short-term investments such as money market instruments
Investment in Listed Equity Shares
Details and objective of the fund for risk /return
Debt  Fund
Mixed Fund
Not less than 60%
Not less than 45%
Not more than 40%
Not more than 40%
Nil
Not less than 15% &
Not more than 35%
Low risk
Steady Income – Lower to Medium risk
The Policyholder has the option to choose any ONE out of the above 2 funds.

2. Method of Calculation of Unit price: Units will be allotted based on the Net Asset Value (NAV) of the respective fund as on the date of allotment.  There is no Bid-Offer spread (the Bid price and Offer price of units will both be equal to the NAV).  The NAV will be computed on daily basis and will be based on investment performance, Fund Management Charge and whether fund is expanding or contracting under each fund type and shall be calculated as under:

Appropriation price is applied (when fund is expanding):
Market value of investments held by the fund plus the expenses incurred in the purchase of the assets plus the value of any current assets plus any accrued income net of fund management charges less the value of any current liabilities less provisions, if any divided by the number of units existing at the valuation date (before any new units are allocated).

Expropriation price is applied (when fund is contracting):
Market value of investments held by the fund less the expenses incurred in the sale of assets plus the value of any current assets plus any accrued income net of fund management charges less the value of any current liabilities less provisions, if any divided by the number of units existing at the valuation date (before any units redeemed).
Applicability of Net Asset Value (NAV):
The premiums received up to a particular time (presently 3 p.m.) by the servicing branch of the corporation through ECS or by way of a local cheque or a demand draft payable at par at the place where the premium is received, the closing NAV of the day on which premium is received shall be applicable. The premiums received after such time by the servicing branch of the corporation through ECS or by way of a local cheque or a demand draft payable at par at the place where the premium is received, the closing NAV of the next business day shall be applicable.
Similarly, in respect of the valid applications received for surrender, complete withdrawal, death claim, switches etc up to such time by the servicing branch of the Corporation closing NAV of that day shall be applicable. For the valid applications received in respect of surrender, complete withdrawal, death claim, switches etc after such time by the servicing branch of the Corporation the closing NAV of the next business day shall be applicable
In case of discontinuance, as specified in Para 8 below, wherein the policyholder does not exercise the option within the period of 30 days of receipt of notice then the NAV as on the date of expiry of notice period shall be applicable.
In respect of the policies vesting, NAV of the date of vesting shall be applicable.
The timing (presently 3 p.m.) is as per the existing guidelines and changes in this regard shall be as per the instruction from IRDA.

3. Surrender: The surrender value, if any, is payable as under:

If the policy is surrendered within 5 years from the date of commencement of the policy:
If you apply for surrender of the policy within 5 years from the date of commencement of policy, then the Policyholder’s Fund Value after deducting the Discontinuance Charge shall be converted into monetary terms as per para 9 below. This monetary amount shall be credited to the Discontinued Policy Fund and no charges shall be deducted thereafter. The Proceeds of the Discontinued Policy, as per para 9 below, shall be utilized for payment of an annuity, on completion of 5 years from the date of commencement of policy.
In case of death of life assured after the date of surrender but before the completion of 5 years from the date of commencement of policy the Proceeds of the Discontinued Policy shall be payable to the nominee/ legal heir immediately.
If the policy is surrendered after 5 years from the date of commencement of the policy:
If you apply for surrender of the policy after 5 years from the date of commencement of policy, then the Policyholder’s Fund Value, as at the date of surrender, shall be utilized for payment of an annuity. There will be no Discontinuance Charge.

 LIC Pension Plus Plan Benefit Illustration licindia.in 


PRODUCT FEATURES :
Name of the Product:LIC's Pension Plus

Unique Identification No.512L260V01
Age:30
Sum Assured:0
Premium Paying Term:20
Amount of Instalment Premium:25000
Service Tax Rate:10.30%
Policy Term :20
Mode of Premium Payment :Yearly
Funds opted for:Debt Fund
Statement of Various charges alongwith growth of the fund expected over the duration of the policy with assumed rate of interst as mentioned(All charges are in Rupees)
Policy
Year
Annualised
Premium
Premium
Allocn Charge
Amount Available
for investment
( out of premium )
Policy Admin
Charge
FMC Other
Charges
Total
Charges
Addition to
Fund (if any)
Fund at the end Surrender Value Death Benefit FMC Other
Charges
Total
Charges
Addition to
Fund (if any)
Fund at the end Surrender Value Death Benefit Commission/
Brokerage,
if payable
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17) (18) (19) (20)
1 25000 1688 23313 360 166 33 2246 1382 24136 0 24136 169 34 2250 2303 25053 0 25053 1875
2 25000 1125 23875 371 343 68 1907 2858 50086 0 50086 357 71 1923 4854 52983 0 52983 500
3 25000 1125 23875 382 529 105 2141 4408 77354 0 77354 561 111 2179 7636 83440 0 83440 500
4 25000 1125 23875 393 725 144 2387 6038 106005 0 106005 784 155 2458 10669 116651 0 116651 500
5 25000 1125 23875 405 930 184 2645 7750 136110 136110 136110 1027 203 2761 13976 152866 152866 152866 500
6 25000 625 24375 417 1150 228 2420 9578 168268 168268 168268 1296 257 2595 17633 192904 192904 192904 500
7 25000 625 24375 430 1380 273 2709 11500 202060 202060 202060 1589 315 2959 21621 236566 236566 236566 500
8 25000 625 24375 443 1623 321 3012 13519 237567 237567 237567 1909 378 3355 25969 284180 284180 284180 500
9 25000 625 24375 456 1878 372 3330 15641 274878 274878 274878 2257 447 3785 30711 336106 336106 336106 500
10 25000 625 24375 470 2145 425 3665 17871 314084 314084 314084 2637 522 4255 35883 392735 392735 392735 500
11 25000 625 24375 484 2426 481 4016 20214 355281 355281 355281 3052 604 4765 41523 454493 454493 454493 500
12 25000 625 24375 498 2722 539 4384 22675 398572 398572 398572 3504 694 5321 47674 521845 521845 521845 500
13 25000 625 24375 513 3032 601 4771 25262 444063 444063 444063 3997 792 5927 54382 595300 595300 595300 500
14 25000 625 24375 529 3359 665 5178 27981 491866 491866 491866 4535 898 6587 61698 675412 675412 675412 500
15 25000 625 24375 545 3702 733 5604 30837 542099 542099 542099 5121 1014 7305 69678 762784 762784 762784 500
16 25000 625 24375 561 4062 805 6052 33839 594886 594886 594886 5761 1141 8088 78380 858077 858077 858077 500
17 25000 625 24375 578 4441 880 6523 36994 650357 650357 650357 6459 1279 8940 87871 962007 962007 962007 500
18 25000 625 24375 595 4839 958 7017 40308 708648 708648 708648 7219 1430 9869 98223 1075361 1075361 1075361 500
19 25000 625 24375 613 5257 1041 7536 43792 769904 769904 769904 8049 1594 10881 109513 1198993 1198993 1198993 500
20 25000 625 24375 631 5696 1128 8081 47452 834276 834276 834276 8954 1773 11984 121828 1333836 1333836 1333836 500
Net Yield: 4.80% Net Yield: 8.79%
IN THIS POLICY, THE INVESTMENT RISK IS BORNE BY THE POLICY HOLDER AND THE ABOVE INTEREST RATES ARE ONLY FOR ILLUSTRATION PURPOSE.

Note:

1. 'Addition to Fund' shown above is interest income on the fund.

2. Service Tax charge is as per existing laws & rate.

(Service tax on FMC is based on the existing tax laws considering FMC rate as 1.35% p.a., the maximum prescribed by IRDA)

3. The commission/brokerage, if payable to any agent/broker under col. 20. This amount is included in total charges mentioned in col. (8) or col. (15)

4. Other charges include only service tax on FMC

PRODUCT FEATURES :
Name of the Product:LIC's Pension Plus

Unique Identification No.512L260V01
Age:30
Sum Assured:0
Premium Paying Term:20
Amount of Instalment Premium:50000
Service Tax Rate:10.30%
Policy Term :20
Mode of Premium Payment :Yearly
Funds opted for:Debt Fund
Statement of Various charges alongwith growth of the fund expected over the duration of the policy with assumed rate of interst as mentioned(All charges are in Rupees)
Assuming Gross Interest of 6% p.a. Assuming Gross Interest of 10% p.a.
Policy
Year
Annualised
Premium
Premium
Allocn Charge
Amount Available
for investment
( out of premium )
Policy Admin
Charge
FMC Other
Charges
Total
Charges
Addition to
Fund (if any)
Fund at the end Surrender Value Death Benefit FMC Other
Charges
Total
Charges
Addition to
Fund (if any)
Fund at the end Surrender Value Death Benefit Commission/
Brokerage,
if payable
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17) (18) (19) (20)
1 50000 1650 48350 360 346 68 2424 2878 50454 0 50454 353 70 2432 4797 52365 0 52365 1000
2 0 0 0 371 361 71 803 3004 52655 0 52655 382 76 828 5196 56733 0 56733 0
3 0 0 0 382 376 75 833 3135 54957 0 54957 414 82 878 5631 61486 0 61486 0
4 0 0 0 393 393 78 864 3272 57365 0 57365 449 89 931 6104 66659 0 66659 0
5 0 0 0 405 410 81 896 3416 59885 59885 59885 486 96 988 6618 72289 72289 72289 0
6 0 0 0 417 428 85 930 3566 62520 62520 62520 528 105 1049 7179 78418 78418 78418 0
7 0 0 0 430 447 89 965 3723 65278 65278 65278 572 113 1116 7788 85091 85091 85091 0
8 0 0 0 443 467 92 1002 3887 68163 68163 68163 621 123 1187 8452 92356 92356 92356 0
9 0 0 0 456 487 97 1040 4059 71183 71183 71183 674 134 1264 9175 100268 100268 100268 0
10 0 0 0 470 509 101 1079 4239 74343 74343 74343 732 145 1347 9963 108883 108883 108883 0
11 0 0 0 484 532 105 1121 4428 77650 77650 77650 795 158 1437 10820 118267 118267 118267 0
12 0 0 0 498 555 110 1163 4625 81112 81112 81112 864 171 1533 11754 128488 128488 128488 0
13 0 0 0 513 580 115 1208 4831 84735 84735 84735 939 186 1638 12771 139621 139621 139621 0
14 0 0 0 529 606 120 1255 5047 88528 88528 88528 1020 202 1751 13880 151750 151750 151750 0
15 0 0 0 545 633 125 1303 5274 92499 92499 92499 1109 220 1873 15087 164964 164964 164964 0
16 0 0 0 561 661 131 1353 5510 96656 96656 96656 1206 239 2005 16402 179361 179361 179361 0
17 0 0 0 578 691 137 1406 5758 101008 101008 101008 1311 260 2148 17836 195048 195048 195048 0
18 0 0 0 595 722 143 1460 6018 105566 105566 105566 1426 282 2303 19397 212143 212143 212143 0
19 0 0 0 613 755 150 1517 6290 110338 110338 110338 1551 307 2471 21099 230771 230771 230771 0
20 0 0 0 631 789 156 1577 6574 120586* 115336 115336 1687 334 2653 22954 251072 251072 251072 0
Net Yield:4.42% Net Yield:8.56%

IN THIS POLICY, THE INVESTMENT RISK IS BORNE BY THE POLICY HOLDER AND THE ABOVE INTEREST RATES ARE ONLY FOR ILLUSTRATION PURPOSE.

Note:

1. 'Addition to Fund' shown above is interest income on the fund.

2. Service Tax charge is as per existing laws & rate.

(Service tax on FMC is based on the existing tax laws considering FMC rate as 1.35% p.a., the maximum prescribed by IRDA)

3. The commission/brokerage, if payable to any agent/broker under col. 20. This amount is included in total charges mentioned in col. (8) or col. (15)

4. Other charges include only service tax on FMC
PRODUCT FEATURES :
Name of the Product:LIC's Pension Plus

Unique Identification No.512L260V01
Age:30
Sum Assured:0
Premium Paying Term:20
Amount of Instalment Premium:25000
Service Tax Rate:10.30%
Policy Term :20
Mode of Premium Payment :Yearly
Funds opted for:Debt Fund
FMC Rate :0.80% p.a

Statement of Various charges alongwith growth of the fund expected over the duration of the policy with assumed rate of interst as mentioned(All charges are in Rupees)
Assuming Gross Interest of 6% p.a. Assuming Gross Interest of 10% p.a.
Policy
Year
Annualised
Premium
Premium
Allocn Charge
Amount Available
for investment
( out of premium )
Policy Admin
Charge
FMC Other
Charges
Total
Charges
Addition to
Fund (if any)
Fund at the end Surrender Value Death Benefit FMC Other
Charges
Total
Charges
Addition to
Fund (if any)
Fund at the end Surrender Value Death Benefit Commission/
Brokerage,
if payable
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17) (18) (19) (20)
1 25000 1688 23313 360 189 33 2270 1381 24111 0 24111 193 34 2274 2302 25028 0 25028 1875
2 25000 1125 23875 371 391 68 1955 2855 50011 0 50011 407 71 1974 4849 52903 0 52903 500
3 25000 1125 23875 382 604 105 2215 4402 77198 0 77198 640 111 2258 7624 83269 0 83269 500
4 25000 1125 23875 393 826 143 2488 6026 105735 0 105735 894 155 2567 10647 116349 0 116349 500
5 25000 1125 23875 405 1060 184 2774 7730 135691 135691 135691 1170 203 2904 13940 152385 152385 152385 500
6 25000 625 24375 417 1309 227 2579 9549 167662 167662 167662 1476 256 2774 17577 192188 192188 192188 500
7 25000 625 24375 430 1571 272 2899 11459 201222 201222 201222 1808 314 3177 21539 235551 235551 235551 500
8 25000 625 24375 443 1846 320 3234 13463 236451 236451 236451 2171 376 3615 25856 282791 282791 282791 500
9 25000 625 24375 456 2135 370 3586 15567 273432 273432 273432 2566 445 4092 30559 334259 334259 334259 500
10 25000 625 24375 470 2438 423 3955 17776 312254 312254 312254 2996 519 4610 35682 390331 390331 390331 500
11 25000 625 24375 484 2756 478 4342 20095 353006 353006 353006 3465 601 5174 41264 451421 451421 451421 500
12 25000 625 24375 498 3089 536 4748 22529 395787 395787 395787 3975 689 5788 47346 517979 517979 517979 500
13 25000 625 24375 513 3440 596 5174 25084 440697 440697 440697 4532 786 6456 53972 590496 590496 590496 500
14 25000 625 24375 529 3808 660 5621 27767 487843 487843 487843 5138 891 7182 61192 669505 669505 669505 500
15 25000 625 24375 545 4194 727 6090 30583 537335 537335 537335 5798 1005 7973 69057 755589 755589 755589 500
16 25000 625 24375 561 4599 797 6582 33539 589292 589292 589292 6518 1130 8834 77627 849383 849383 849383 500
17 25000 625 24375 578 5025 871 7098 36642 643836 643836 643836 7302 1266 9771 86965 951578 951578 951578 500
18 25000 625 24375 595 5471 949 7640 39900 701096 701096 701096 8156 1414 10790 97139 1062927 1062927 1062927 500
19 25000 625 24375 613 5940 1030 8208 43321 761208 761208 761208 9087 1575 11900 108225 1184251 1184251 1184251 500
20 25000 625 24375 631 6433 1115 8804 46911 824315 824315 824315 10101 1751 13109 120303 1316446 1316446 1316446 500
Net Yield: 4.70% Net Yield: 8.68%

IN THIS POLICY, THE INVESTMENT RISK IS BORNE BY THE POLICY HOLDER AND THE ABOVE INTEREST RATES ARE ONLY FOR ILLUSTRATION PURPOSE.

Note:

1. 'Addition to Fund' shown above is interest income on the fund.

2. Service Tax charge is as per existing laws & rate.

(Service tax on FMC is based on the existing tax laws considering FMC rate as 1.35% p.a., the maximum prescribed by IRDA)

3. The commission/brokerage, if payable to any agent/broker under col. 20. This amount is included in total charges mentioned in col. (8) or col. (15)

4. Other charges include only service tax on FMC
PRODUCT FEATURES :
Name of the Product:LIC's Pension Plus

Unique Identification No.512L260V01
Age:30
Sum Assured:0
Premium Paying Term:1
Amount of Instalment Premium:50000
Service Tax Rate:10.30%
Policy Term :20
Mode of Premium Payment :SINGLE
Funds opted for:Mixed Fund
FMC Rate :0.80% p.a

Statement of Various charges alongwith growth of the fund expected over the duration of the policy with assumed rate of interst as mentioned(All charges are in Rupees)
Assuming Gross Interest of 6% p.a. Assuming Gross Interest of 10% p.a.
Policy
Year
Annualised
Premium
Premium
Allocn Charge
Amount Available
for investment
( out of premium )
Policy Admin
Charge
FMC Other
Charges
Total
Charges
Addition to
Fund (if any)
Fund at the end Surrender Value Death Benefit FMC Other
Charges
Total
Charges
Addition to
Fund (if any)
Fund at the end Surrender Value Death Benefit Commission/
Brokerage,
if payable
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17) (18) (19) (20)
1 50000 1650 48350 360 394 68 2473 2877 50404 0 50404 403 70 2482 4795 52312 0 52312 1000
2 0 0 0 371 411 71 853 2999 52550 0 52550 436 76 882 5189 56619 0 56619 0
3 0 0 0 382 429 74 885 3127 54792 0 54792 472 82 935 5617 61301 0 61301 0
4 0 0 0 393 447 78 918 3261 57135 0 57135 511 89 993 6082 66391 0 66391 0
5 0 0 0 405 466 81 952 3400 59583 59583 59583 553 96 1054 6589 71925 71925 71925 0
6 0 0 0 417 486 84 988 3546 62141 62141 62141 599 104 1121 7139 77943 77943 77943 0
7 0 0 0 430 507 88 1025 3699 64814 64814 64814 650 113 1192 7738 84489 84489 84489 0
8 0 0 0 443 529 92 1063 3858 67609 67609 67609 704 122 1269 8389 91608 91608 91608 0
9 0 0 0 456 552 96 1104 4024 70529 70529 70529 764 132 1352 9097 99353 99353 99353 0
10 0 0 0 470 576 100 1145 4198 73583 73583 73583 828 144 1442 9867 107778 107778 107778 0
11 0 0 0 484 601 104 1189 4380 76774 76774 76774 899 156 1538 10705 116944 116944 116944 0
12 0 0 0 498 627 109 1234 4571 80111 80111 80111 975 169 1643 11617 126919 126919 126919 0
13 0 0 0 513 654 113 1281 4769 83600 83600 83600 1059 184 1756 12609 137773 137773 137773 0
14 0 0 0 529 683 118 1330 4977 87248 87248 87248 1149 199 1877 13689 149584 149584 149584 0
15 0 0 0 545 712 124 1380 5195 91062 91062 91062 1248 216 2009 14864 162440 162440 162440 0
16 0 0 0 561 744 129 1433 5422 95051 95051 95051 1355 235 2151 16143 176432 176432 176432 0
17 0 0 0 578 776 135 1488 5660 99222 99222 99222 1472 255 2305 17536 191662 191662 191662 0
18 0 0 0 595 810 140 1546 5909 103585 103585 103585 1600 277 2472 19051 208242 208242 208242 0
19 0 0 0 613 846 147 1605 6169 108148 108148 108148 1738 301 2652 20701 226290 226290 226290 0
20 0 0 0 631 883 153 1668 6441 120586* 112921 112921 1889 327 2848 22497 245940 245940 245940 0
Net Yield: 4.31% Net Yield: 8.45%


IN THIS POLICY, THE INVESTMENT RISK IS BORNE BY THE POLICY HOLDER AND THE ABOVE INTEREST RATES ARE ONLY FOR ILLUSTRATION PURPOSE.

Note:

1. 'Addition to Fund' shown above is interest income on the fund.

2. Service Tax charge is as per existing laws & rate.

(Service tax on FMC is based on the existing tax laws considering FMC rate as 1.35% p.a., the maximum prescribed by IRDA)

3. The commission/brokerage, if payable to any agent/broker under col. 20. This amount is included in total charges mentioned in col. (8) or col. (15)

4. Other charges include only service tax on FMC

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