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Yuva Credit Life (777)
Product Summary
YUVA CREDIT plan number 777 a Non-Linked, Non-Par, Pure Risk Plan. This Plan provides a safety net against any loan repayment to the insured family in case of death of life assured. Risk cover reduces as per the Risk Cover Schedule prepared based on interest rate chosen by the proposer from available interest rate of 6%, 7%, 8%, 9%, 10%, 11% or 12%. (For Example, if interest rate charged on loan is 7.25%, proposer can choose either 7% or 8% for the purpose of Risk Cover Schedule)
Premium Payment Mode:
Premiums can be paid either under Limited Premium or Single Premium payment options under this plan. In case of Limited Premium payment, the premium can be paid regularly during the Premium Paying Term with modes of premium payment yearly or half-yearly.
Term :
Single Premium : 5 to 30 years
PPT – 5 years : 10 to 30 years
PPT - 10 years : 15 to 30 years
PPT – 15 Years : 25 to 30 years
Minimum Entry Age :
18 Years (Last Birthday)
Maximum Entry Age :
45 Years (Last Birthday)
Minimum Sum Assured :
50,00,000
Maximum Sum Assured :
₹5.00 Cr (Above ₹5.00 Cr may be considered on case-to-case basis)
Premium Paying Term :
Policy Benefits :
On Death :
On death of the Life Assured during the policy term Sum Assured on Death shall be payable.
For Limited premium payment policy, Sum Assured on Death is defined as the highest of: • 105% of all the premiums paid as on the date of death; or • Absolute amount assured to be paid on death.
For Single premium policy, Sum Assured on Death is defined as the higher of: • Absolute amount assured to be paid on death.
On Survival :
On survival to the end of the policy term,no benefits shall be payable.
Surrendered Value :
Payable under both Single and Ltd PPT mode.
Loan :
No loan will be granted under this plan.
Income Tax Benefit :
• Premium paid under this plan is eligible for TAX rebate under section 80c.
Proposal Form : 300 with Annexure.
Fo
r more information visit www.LicAllinOneCalc.com
Example
To,
Mr/Mrs/Ms : Suresh
Plan : Yuva Credit (777)
Age :20
Term :15
PPT :5
Gender : Male
Smoking Condition : Non-Smoker
Interest rate of loan repayment : 6%
Premium Paying Option : Limited Premium 5years
Sum Assured :5000000
Premium With Tax 18.0% :
Yearly : 8260 (7000 + 1260)
Halfly : 4213 (3570 + 643)
YLY Mode Average Prem/Day : 22
The minimum installment premium will be Rs. 3,000/- for Limited premium policies
Disclaimer
Premium Shown Above is Indicative and not Exact, Actual Premium May vary according to underwriting Rules Applicable. Maturity Calculation display in app is Approximate (Current rate of bonus). If you select combine with pension, pension is calculated as per current pension plan rate, it may vary at maturity time. Here Pension start only when you purchase pension plan at maturity time on displayed age. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale."
Example
To,
Mr/Mrs/Ms : SURESH
Plan : Yuva Credit (877)
Age :20
Term :15
PPT :5
Gender : Male
Smoking Condition : Non-Smoker
Interest rate of loan repayment : 6%
Premium Paying Option : Limited Premium 5years
Sum Assured :5000000
Premium With Tax 18.0% :
Yearly : 8260 (7000 + 1260)
Halfly : 4213 (3570 + 643)
YLY Mode Average Prem/Day : 22
The minimum installment premium will be Rs. 3,000/- for Limited premium policies
Total Approximate Pai
d Premium : 41300
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