Page 49 - Insurance Times December 2015 SAMPLE

Life Insurance Plan
This is an online term plan that only charges for insurance.
So, if the policyholder survives the term, no money is given,
but if she dies during the term, beneficiaries get the insur-
ance money.
What it delivers?
The sum assured can be customized in four ways. In the
first, the beneficiary gets the full sum assured all at once
on policyholder's death and the plan terminates. In the
second option, 50% of sum assured is paid in lump sum and
the balance in monthly installments (0.58% of the sum
assured) for 10 years.
The third option pays 50% of sum assured on death and
then a monthly income, which goes up 12% every year on
a simple interest basis. The fourth option works like a child
plan as it links the insurance benefits with the age of the
child. But this option is available only to policyholders whose crore and policy term of 25 years for a 35-year-old, the
child (beneficiary) is younger than or 15 years of age.
Here, 50% of sum assured is paid on death of policyholder
and the balance is paid in equal monthly installments till
the child turns 21.
If policyholder dies when the child is 20 years old, the child
will get a monthly income for one year only (4.43% of sum
assured). But if the child is less than a year old at that
time, monthly income will be 0.37% of sum assured. If the
policyholder dies after the child turns 21, staggered pay-
ments will stop and the entire sum assured will be made
available.
!! Hearty Congratulations !!
Thanks readers for excellent response to our Insurance Quiz published in our October 2015 & November 2015 issue.
We are pleased to announce Meena V.D. as the winner of the lucky draw for our Insurance Quiz October 2015 issue
& Mitul Shah as the winner of the lucky draw for our Insurance Quiz November 2015 issue.
Who will be the next?????
Copyright@ The Insurance Times. 09883398055 / 09883380339
Mera Term Plan
UIN No: 147N027V01
from PNB MetLife's Insurance Company
What's special?
In all variants, the sum assured can be increased by 50%
and 25% up to Rs.50 lakh by opting for a life stage benefit,
when buying the policy. Medical examination is not re-
quired, but one needs to pay for this increase. The second
option is to choose a joint life cover in which the second
person insured carries a sum assured of 50% of the original
sum assured up to a maximum of Rs.50 lakh. If the policy-
holder dies, benefits will be paid as per the option chosen
and future premiums will be waived. If the second person
dies first, the sum assured is paid and the policy continues
(policyholder has to pay premiums). If both deaths occur
together, the sum assured is paid and the policy terminates.
What to expect?
In the staggered monthly option for sum assured of Rs.1
premium would be Rs.9,227 (Rs.10,410 in lump sum op-
tion). Policy will pay around Rs.41.81 lakh as lump sum, as
it factors in time value of all periodic payments and calcu-
lates the present value of the sum assured to give 50% of
that sum assured. Monthly income is Rs.48,495 over 10
years. There is another online staggered benefits plan
(pays Rs.42 lakh as lump sum and Rs.48,500 monthly for
130 months), which is cheaper.
Entry Age - 18-65 Years
Sum Assured - Rs.10 Lakh - Rs.50 Crore
Variants - Four
The Insurance Times, December 2015 45