LIC’sLIC’s CHILD CAREER PLANCHILD CAREER PLAN

(WITH PROFITS)(WITH PROFITS) (PLAN No. 184)(PLAN No. 184)

Satyendra Gupta (Satyendra Gupta (everyoneinsured@gmail.com) - ) -

98993078339899307833

Launching…

CHILD FUTURE PLANCHILD FUTURE PLAN This is a Children’s Plan (educational, This is a Children’s Plan (educational,

marriage and other needs) which marriage and other needs) which provides the risk cover on the life of provides the risk cover on the life of child not only during the policy term child not only during the policy term but also during the extended term (i.e. but also during the extended term (i.e. 7 years after the expiry of policy term). 7 years after the expiry of policy term).

A number of Survival benefits are also A number of Survival benefits are also payable. payable.

The policy is available for terms 11 to The policy is available for terms 11 to 27 years. Premiums may be paid either 27 years. Premiums may be paid either for 6 years or up to 5 years before the for 6 years or up to 5 years before the policy term. The Extended term will be policy term. The Extended term will be 7 years from the date of expiry of 7 years from the date of expiry of policy term. No premiums are payable policy term. No premiums are payable during the Extended term of plan.during the Extended term of plan.

Benefits of the PlanBenefits of the PlanSurvival BenefitSurvival Benefit : : On life assured surviving to the end of the On life assured surviving to the end of the

specified durations an amount as specified specified durations an amount as specified below is payable:below is payable:

5 years before the date of expiry of policy term - 30% of 5 years before the date of expiry of policy term - 30% of the Sum Assured along with vested Simple the Sum Assured along with vested Simple Reversionary Bonuses Reversionary Bonuses

4 years before the date of expiry of policy term - 15% of 4 years before the date of expiry of policy term - 15% of the Sum Assured the Sum Assured

3 years before the date of expiry of policy term - 15% of 3 years before the date of expiry of policy term - 15% of the Sum Assured the Sum Assured

2 years before the date of expiry of policy term - 15% of 2 years before the date of expiry of policy term - 15% of the Sum Assured the Sum Assured

1 years before the date of expiry of policy term - 15% of 1 years before the date of expiry of policy term - 15% of the Sum Assured the Sum Assured

On the date of expiry of policy term - 15% of the Sum On the date of expiry of policy term - 15% of the Sum Assured along with Final (Additional) Bonus, if any.Assured along with Final (Additional) Bonus, if any.

Benefits of the PlanBenefits of the PlanDeath BenefitDeath Benefit : : On death after the Date of Commencement of On death after the Date of Commencement of

Risk but before the date of expiry of policy Risk but before the date of expiry of policy termterm -Sum Assured along with Vested Simple -Sum Assured along with Vested Simple Reversionary Bonuses and Final (Additional) Reversionary Bonuses and Final (Additional) bonus (if any) is payable.bonus (if any) is payable.

On death during the Extended TermOn death during the Extended Term - Sum - Sum Assured is payable.Assured is payable.

On death before the Date of Commencement of On death before the Date of Commencement of RiskRisk - All the premiums paid (excluding - All the premiums paid (excluding premium for extra and premium waiver benefit, premium for extra and premium waiver benefit, if any,) along with interest of 3% p.a. if any,) along with interest of 3% p.a. compounding yearly shall be payable.compounding yearly shall be payable.

Participation in ProfitsParticipation in Profits Provided the policy is in full force, this policy will Provided the policy is in full force, this policy will

be eligible for a Simple Reversionary Bonus.be eligible for a Simple Reversionary Bonus. In case of a paid up policy vested bonuses shall In case of a paid up policy vested bonuses shall

be payable only if at least 3 full years’ premiums be payable only if at least 3 full years’ premiums have been paid.have been paid.

Not withstanding what is stated above, no bonus Not withstanding what is stated above, no bonus shall vest under the policy when the risk is not shall vest under the policy when the risk is not covered. However, the Simple Reversionary covered. However, the Simple Reversionary Bonuses for the period Bonuses for the period before the before the Commencement of Risk will vest on the policy Commencement of Risk will vest on the policy anniversary from which the risk is covered anniversary from which the risk is covered provided the policy is in full force and 3 full years provided the policy is in full force and 3 full years premiums have been paid under the policy.premiums have been paid under the policy.

Final (Additional) Bonus may also be declared Final (Additional) Bonus may also be declared under the policy which shall be payable on expiry under the policy which shall be payable on expiry of the policy term, or on earlier death.of the policy term, or on earlier death.

Once the bonus or their cash value is paid, no Once the bonus or their cash value is paid, no further bonus shall accrue under the policy.further bonus shall accrue under the policy.

Auto CoverAuto Cover If after at least two full year’s premiums have been If after at least two full year’s premiums have been

paid, and any subsequent premium be not duly paid, and any subsequent premium be not duly paid, full death cover shall continue for a period of paid, full death cover shall continue for a period of two years from the due date of the First Unpaid two years from the due date of the First Unpaid Premium (FUP). This period of 2 years from FUP Premium (FUP). This period of 2 years from FUP shall be called Auto Cover Period. During this Auto shall be called Auto Cover Period. During this Auto Cover Period, the Proposer/ Life Assured can pay Cover Period, the Proposer/ Life Assured can pay one or more instalments premiums with interest one or more instalments premiums with interest without submission of evidence of health. On without submission of evidence of health. On payment of one or more of the arrears of payment of one or more of the arrears of instalment premiums with interest, the Auto Cover instalment premiums with interest, the Auto Cover Period of 2 years shall be extended from the due Period of 2 years shall be extended from the due date of new FUP.date of new FUP.

If death of Life Assured occurs during the Auto If death of Life Assured occurs during the Auto Cover period, then death benefit after deducting Cover period, then death benefit after deducting unpaid premiums, with interest, as also premiums unpaid premiums, with interest, as also premiums falling due before the next anniversary of the falling due before the next anniversary of the policy, is payable alongwith the vested bonus, if policy, is payable alongwith the vested bonus, if any.any.

Premium Waiver Benefit, if any, shall remain Premium Waiver Benefit, if any, shall remain inforce during the Auto Cover period. inforce during the Auto Cover period.

Premium Waiver BenefitPremium Waiver Benefit The proposer can avail the premium waiver The proposer can avail the premium waiver

benefit, on the payment of an additional benefit, on the payment of an additional premium. premium.

On availing this benefit the payment of the On availing this benefit the payment of the premiums falling due after the death of the premiums falling due after the death of the proposer shall be waived. The Premium proposer shall be waived. The Premium Waiver Benefit shall remain in force during Waiver Benefit shall remain in force during the Auto cover period.the Auto cover period.

The Premium Waiver Benefit as stated in The Premium Waiver Benefit as stated in (a) shall be granted on the basis of the (a) shall be granted on the basis of the proposer's age, personal declaration of proposer's age, personal declaration of health and other requirements. health and other requirements.

The Premium Waiver Benefit described in The Premium Waiver Benefit described in (a) and (b) shall not operate in the event of (a) and (b) shall not operate in the event of the death of the proposer by his own the death of the proposer by his own hands, whether sane or insane within one hands, whether sane or insane within one year from the date of issuance of First year from the date of issuance of First Premium Receipt.Premium Receipt.

Eligibility Conditions and Eligibility Conditions and RestrictionsRestrictions For Life AssuredFor Life Assured

(a) Minimum Entry Age (a) Minimum Entry Age :: 0 Years (LBD)0 Years (LBD)(b) Maximum Entry Age(b) Maximum Entry Age : : 12 years (LBD)12 years (LBD)(c) Minimum Maturity Age :(c) Minimum Maturity Age : 23 years (LBD)23 years (LBD)(d) Maximum Maturity Age :(d) Maximum Maturity Age : 27 years (LBD)27 years (LBD)(e) Minimum Sum Assured : Rs. 1,00,000(e) Minimum Sum Assured : Rs. 1,00,000(f) Maximum Sum Assured : Rs. 100 ,00,000(f) Maximum Sum Assured : Rs. 100 ,00,000(g) Policy term : 11 to 27 years (g) Policy term : 11 to 27 years (h) Premium Paying term : 6 and Policy term less 5 (h) Premium Paying term : 6 and Policy term less 5

yearsyears‘‘Sum Assured shall be in multiples of Rs. 5000’ Sum Assured shall be in multiples of Rs. 5000’

For ProposerFor Proposer (If PWB is Opted for) (If PWB is Opted for)(a) Minimum Entry Age (a) Minimum Entry Age :: 18 years 18 years

(completed)(completed)(b) Maximum Entry Age(b) Maximum Entry Age :: 55 years (NBD)55 years (NBD)(c) Maximum Age at the end of premium paying (c) Maximum Age at the end of premium paying

term: 70 years (NBD)term: 70 years (NBD)

Special FeaturesSpecial Features Date of commencement of riskDate of commencement of risk :  : In case the age of In case the age of

Life Assured at entry is less than or equal to 10 Life Assured at entry is less than or equal to 10 years, risk under this plan shall commence either years, risk under this plan shall commence either after 2 years from the date commencement of the after 2 years from the date commencement of the policy or from the policy anniversary coinciding policy or from the policy anniversary coinciding with or immediately following the completion of 5 with or immediately following the completion of 5 years of age of Life assured, whichever is later. years of age of Life assured, whichever is later. Where the age at entry is more than 10 years but Where the age at entry is more than 10 years but less than 12 years, the risk shall commence from less than 12 years, the risk shall commence from the policy anniversary coinciding with or next the policy anniversary coinciding with or next following 12th birthday of the Life Assured. For following 12th birthday of the Life Assured. For those aged 12 years or more risk will commence those aged 12 years or more risk will commence immediately.immediately.

Date of VestingDate of Vesting: The policy shall automatically : The policy shall automatically vest in the Life Assured on the policy anniversary vest in the Life Assured on the policy anniversary coinciding with or immediately following the coinciding with or immediately following the completion of 18 years of age and shall, on such completion of 18 years of age and shall, on such vesting, be deemed to be a contract between the vesting, be deemed to be a contract between the Corporation and the Life Assured.Corporation and the Life Assured.

RebatesRebates Mode Rebate:Mode Rebate:

Yearly mode -Yearly mode - 2% of Tabular Premium2% of Tabular Premium

Half-yearly mode - 1% of the tabular Half-yearly mode - 1% of the tabular premiumpremium

Quarterly - NILQuarterly - NIL Sum Assured Rebate:Sum Assured Rebate:

Sum AssuredSum Assured Rebate (Rs.)Rebate (Rs.)

1,00,000 to 2,99,9991,00,000 to 2,99,999 NilNil

3,00,000 to 4,99,9993,00,000 to 4,99,999 1.5 %o S.A.1.5 %o S.A.

5,00,000 and above5,00,000 and above 2 %o S.A.2 %o S.A.

Miscellaneous: LapsationMiscellaneous: Lapsation If at least 3 full years’ premiums are paid, and If at least 3 full years’ premiums are paid, and

subsequent premiums are not paid, the policy shall subsequent premiums are not paid, the policy shall become paid-up. Before the Commencement of Risk, become paid-up. Before the Commencement of Risk, the policy shall be entitled to receive the GSV. After the policy shall be entitled to receive the GSV. After risk commences, the sum assured of policy shall be risk commences, the sum assured of policy shall be reduced to paid-up value. The policy shall not be reduced to paid-up value. The policy shall not be entitled to participate in future profits and no entitled to participate in future profits and no survival benefits shall be payable and the paid-up survival benefits shall be payable and the paid-up value along with vested bonuses, shall be payable on value along with vested bonuses, shall be payable on the expiry of policy term or death of Life Assured. If the expiry of policy term or death of Life Assured. If the policy is in lapsed/ paid-up condition, Premium the policy is in lapsed/ paid-up condition, Premium Waiver Benefit shall cease to apply after the Auto Waiver Benefit shall cease to apply after the Auto Cover period. The Extended Term Cover shall also Cover period. The Extended Term Cover shall also cease. cease.

If less than 2 years premiums have been paid and the If less than 2 years premiums have been paid and the policy lapses then nothing shall be payable. If more policy lapses then nothing shall be payable. If more than 2 but less than 3 years premiums have been than 2 but less than 3 years premiums have been paid and the policy lapses and death occurs during paid and the policy lapses and death occurs during the Auto Cover period, then death benefit as the Auto Cover period, then death benefit as described in Auto Cover shall be payable. If death described in Auto Cover shall be payable. If death occurs after the auto Cover period, then nothing occurs after the auto Cover period, then nothing shall be payable. On expiry of policy term nothing shall be payable. On expiry of policy term nothing shall be payable.shall be payable.

Miscellaneous: GSV & SSVMiscellaneous: GSV & SSV Guaranteed Surrender ValueGuaranteed Surrender Value: : The policy can be The policy can be

surrendered provided at least 3 full years' premiums have surrendered provided at least 3 full years' premiums have been paid. been paid. Before the Date of Commencement of RiskBefore the Date of Commencement of Risk: 90 : 90 percent of the total amount of the premiums paid percent of the total amount of the premiums paid excluding the premiums paid for the first year & excluding the premiums paid for the first year & After the After the Date of Commencement of RiskDate of Commencement of Risk: 90 percent of the total : 90 percent of the total amount of the premiums paid before the Date of amount of the premiums paid before the Date of Commencement of Risk, together with 30 percent of total Commencement of Risk, together with 30 percent of total amount of premiums paid on and after Date of amount of premiums paid on and after Date of Commencement of Risk excluding the premiums for the Commencement of Risk excluding the premiums for the first year. This shall exclude the total amount of survival first year. This shall exclude the total amount of survival benefits paid, extra premiums and premium for Premium benefits paid, extra premiums and premium for Premium Waiver Benefit. Cash Value of vested bonuses is also Waiver Benefit. Cash Value of vested bonuses is also payable.payable.

Special Surrender ValuesSpecial Surrender Values: : The discounted factor shall The discounted factor shall be the factors used for Endowment Assurance plan and be the factors used for Endowment Assurance plan and will be subject to the deduction of the survival benefits will be subject to the deduction of the survival benefits paid.paid.

Grace period for payment of premiumGrace period for payment of premium:: A grace period A grace period of one calendar month but not less than 30 days shall be of one calendar month but not less than 30 days shall be allowed for payment of yearly or half yearly or quarterly allowed for payment of yearly or half yearly or quarterly premium. premium.

Miscellaneous:Miscellaneous: Revivals or Reinstatements of lapsed Revivals or Reinstatements of lapsed

policypolicy: : If the Policy has lapsed, and the period If the Policy has lapsed, and the period of Auto Cover is over, it may be revived within a of Auto Cover is over, it may be revived within a period of 5 years from the due date of first period of 5 years from the due date of first unpaid premiumunpaid premium. .

LoansLoans: : No loans available.No loans available. Suicide ClauseSuicide Clause: : Not applicable for the basic Not applicable for the basic

plan. plan. Cooling-off periodCooling-off period: Applicable.: Applicable. Back-dating interestBack-dating interest : : Applicable @ 8%.. Assignments / NominationsAssignments / Nominations: : Not assignable

by the Proposer, but after vesting, Life Assured by the Proposer, but after vesting, Life Assured may appoint a nominee or nominees or create may appoint a nominee or nominees or create an Assignment.an Assignment.

USP’S OF THE PLANUSP’S OF THE PLAN Innovative Children’s Money Back PolicyInnovative Children’s Money Back Policy Survival Benefit + Maturity - 105% of Sum Survival Benefit + Maturity - 105% of Sum

AssuredAssured Auto Cover Facility in Children’s PlanAuto Cover Facility in Children’s Plan Flexi Term OptionsFlexi Term Options Extended Term Risk CoverExtended Term Risk Cover Suicide Clause NOT Applicable on Basic PlanSuicide Clause NOT Applicable on Basic Plan Parents’ Insurance NOT Insisted (2 Lac for Parents’ Insurance NOT Insisted (2 Lac for

without PWB & 5 Lac for with PWB Policies)without PWB & 5 Lac for with PWB Policies) Income Tax Benefits U/S 80C & 10.10.DIncome Tax Benefits U/S 80C & 10.10.D

USP’S OF THE PLANUSP’S OF THE PLAN Suits Male as well as Female ChildSuits Male as well as Female Child With Profit Plan With Profit Plan Assignment Possible After VestingAssignment Possible After Vesting Premium Waiver Benefit AvailablePremium Waiver Benefit Available

Market PotentialMarket Potential Children’s Policies - Lucrative Segment:Children’s Policies - Lucrative Segment:

Emotional SellingEmotional Selling Higher Average FPI/Premium per Policy Higher Average FPI/Premium per Policy No Surrenders/No Lapsation/No Early ClaimsNo Surrenders/No Lapsation/No Early Claims

Flexibility:Flexibility: Term according to the needsTerm according to the needs

Create Wealth/Capital for the ChildCreate Wealth/Capital for the Child Educational Policy & Marriage PolicyEducational Policy & Marriage Policy