Description
Child Insurance Plans
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Need for proper education in highly competitive environment For Coaching Marriage In case of unfortunate accident Ever increasing prices of living Future of the country
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Jeevan Anurag Komal Jeevan CDA Endowment Vesting At 21 Marriage Endowment Or Educational Annuity Plan CDA Endowment Vesting At 18 Jeevan Kishore Jeevan Chhaya Child Career Plan Child Future Plan Jeevan Ankur
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Specifically designed to take care of the educational needs of children Benefits under the plan are payable at prespecified durations Assured Benefit Payment of 20% of the Basic Sum Assured at the start of every year during last 3 policy years before maturity. At maturity, 40% of the Basic Sum Assured along with reversionary bonuses
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Death Benefit Payment of an amount equal to Sum Assured under the basic plan immediately on the death of the life assured.
Income Tax Benefit Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C
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Premiums Waiver Benefit is an inbuilt rider. Other 3 optional additional riders available are
Accidental Death and Disability Benefit rider Critical Illness rider and Premium Waiver Benefit rider for Critical Illnesses.
1. 2. 3.
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Dummy Person
? ? ? ? ? ? ? Name : Pankaj Patil Age : 28 Income : 60000 per month Children :1 girl (2 years old) Spouse : Priya patil Age : 25 Income : 25000 per month
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Marriage
? ? ? ? Money Pankaj Want to spend : 4 lakh Age at which Girl will marry : 22 Current Inflation rate : 6% Expected rate of return : 9%
? Requirements
Amount required for marriage : 12 lakh Annual investment required : 25000
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Education
? Desired stream of education : Doctor ? Corpus required : 700000
? Requirements Amount required : 17 lakh Annual Investment required : 53000
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Sum Assured : 25 lakh Policy term : 20 Monthly premium : 11921
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Total investment : 28,61,040
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Beginning of Year 18 = Rs 5,00,000/Beginning of Year 19 = Rs 5,00,000/Beginning of Year 20 = Rs 5,00,000/-
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Maturity Benefit at the End of Year 20 = Rs 10,00,000/- + Bonus (Variable)
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Bonus Assumptions :
Regular Bonus –
? Rs.21 per thousand S.A at 6% rate of return ? Rs.55 per thousand S.A at 10% rate of return
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Terminal Bonus –
? Rs. 170 per thousand S.A at 6% rate of return ? Rs. 450 per thousand S.A at 10% rate of return
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Bonus at 6% : 14,75,000 Bonus at 10 % : 38,75,000
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Loan available Guaranteed surrender value Grace Period
doc_155121082.pptx
Child Insurance Plans
?
? ? ? ? ?
Need for proper education in highly competitive environment For Coaching Marriage In case of unfortunate accident Ever increasing prices of living Future of the country
? ? ? ? ?
?
? ? ?
?
?
Jeevan Anurag Komal Jeevan CDA Endowment Vesting At 21 Marriage Endowment Or Educational Annuity Plan CDA Endowment Vesting At 18 Jeevan Kishore Jeevan Chhaya Child Career Plan Child Future Plan Jeevan Ankur
?
Specifically designed to take care of the educational needs of children Benefits under the plan are payable at prespecified durations Assured Benefit Payment of 20% of the Basic Sum Assured at the start of every year during last 3 policy years before maturity. At maturity, 40% of the Basic Sum Assured along with reversionary bonuses
?
?
?
Death Benefit Payment of an amount equal to Sum Assured under the basic plan immediately on the death of the life assured.
Income Tax Benefit Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C
?
?
Premiums Waiver Benefit is an inbuilt rider. Other 3 optional additional riders available are
Accidental Death and Disability Benefit rider Critical Illness rider and Premium Waiver Benefit rider for Critical Illnesses.
1. 2. 3.
?
Dummy Person
? ? ? ? ? ? ? Name : Pankaj Patil Age : 28 Income : 60000 per month Children :1 girl (2 years old) Spouse : Priya patil Age : 25 Income : 25000 per month
?
Marriage
? ? ? ? Money Pankaj Want to spend : 4 lakh Age at which Girl will marry : 22 Current Inflation rate : 6% Expected rate of return : 9%
? Requirements
Amount required for marriage : 12 lakh Annual investment required : 25000
?
Education
? Desired stream of education : Doctor ? Corpus required : 700000
? Requirements Amount required : 17 lakh Annual Investment required : 53000
? ? ?
Sum Assured : 25 lakh Policy term : 20 Monthly premium : 11921
?
Total investment : 28,61,040
? ? ?
Beginning of Year 18 = Rs 5,00,000/Beginning of Year 19 = Rs 5,00,000/Beginning of Year 20 = Rs 5,00,000/-
?
Maturity Benefit at the End of Year 20 = Rs 10,00,000/- + Bonus (Variable)
?
?
Bonus Assumptions :
Regular Bonus –
? Rs.21 per thousand S.A at 6% rate of return ? Rs.55 per thousand S.A at 10% rate of return
?
Terminal Bonus –
? Rs. 170 per thousand S.A at 6% rate of return ? Rs. 450 per thousand S.A at 10% rate of return
? ?
Bonus at 6% : 14,75,000 Bonus at 10 % : 38,75,000
? ? ?
Loan available Guaranteed surrender value Grace Period
doc_155121082.pptx