Life Insurance Sales Talk Essays

Life Insurance Sales Talk Essays Life Insurance Sales Talk Essay Life Insurance Sales Talk Essay Essay Topic: Talk What are the highlights of LIC’s Jeevan Vaibhav? LIC’s Jeevan Vaibhav is a Life insurance Plan especially designed to meet needs of Insurance Wealth creation and Liquidity What are the key features of LIC’s Jeevan Vaibhav? Single Premium non-linked endowment assurance plan. Maturity Benefit : Sum Assured and Loyalty Addition#. Liquidity : Facility for loan. Life Cover : Full Sum Assured Payable on death during the term. # Loyalty Addition, if any, payable on Death, if it occurs during the last olicy year or on maturity. Please explain the Maturity and Life Cover Benefits under the plan. The Maturity Benefits under LIC’s Jeevan Vaibhav plan include the Sum Assured and Loyalty Addition, if any. For a person aged 35 years, paying a premium of Rs. 95730/-, the Sum Assured shall be Rs. 200000/- .The Details of benefits payable are as under:- Jeevan Vaibhav Page 1 Benefit Illustration Age Policy Term Single Premium Amount 35 years 10 y ears 95730/-* Sum Assured payable on death or 200000/maturity Loyalty Addition payable on death during the last policy year or on maturity: Assuming 6% p. a. eturn Nil 25,000/Assuming 10% p. a. return * Premium shown above is exclusive of service tax. Am I eligible to take the plan? The Plan is available for person between 8 to 65 years of age. Eligibility Conditions Age at entry Policy Term Sum Assured Premium Mode Others 8 years to 65 years 10 years Rs. 200000/- onwards in multiple of 10000/Single Service Tax at the prevailing rate applicable on premium. What is the maximum amount of premium that I can pay? There is no upper limit on the premium. Moreover you shall enjoy a rebate of Rs. 2. 00†° in case you opt for Sum Assured between 4 lacs to 5. 90lacs and a rebate of Rs3. 0†° for Sum Assured 6 lacs and above. Jeevan Vaibhav Page 2 Can I avail loan under LIC’s Jeevan Vaibhav? Yes, Loan facility is available under this plan, after completion of one policy year. Th e Loan Value is to the extent of 70% of Surrender Value. What if I wish to surrender the policy before completion of the term? We would not advise you to surrender a policy because the risk cover ceases and the contract comes to an end besides it deprives you from enjoying the full returns under the plan. However we wish to inform you that the policy shall acquire surrender value after completion of one full year.On surrendering a policy the higher of Guaranteed Surrender Value and Special Surrender Value shall be paid. Guaranteed Surrender Value The Guaranteed Surrender Value shall be 90% of the Single premium paid excluding extra premium, if any. Special Surrender Value The Special Surrender Value will be the ‘discounted value’ of the Sum Assured. Why should I opt for LIC’s Jeevan Vaibhav plan ? Because LIC’s Jeevan Vaibhav combines Security with Wealth Creation in a single plan. You deserve it to celebrate your achievements in 2022. ************* Jeevan Vaibhav Page 3