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Milton Moraes 70 Vishal Mehta 66 Hitesh Paliwal 74 Jaymit Rawal 86
Ajit Rawat 88 Dhara Shah 97
Roshani Vichare 112
&ladrai Dalmia Lions College of Commerce Economics
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L 1
S2 A 1
I 1 F4
R1
5
E 1
N 2N 3 C
4 E 1 1
8/4/2019 Banking & Insurance Lll-Sem
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Features
• Valid Contract
•Return of premium•Terms of policy• Cause is certain•Premium paid is consideration• Warranties•Assignment•Nomination
• Valid Contract
• Return of premium
• Terms of policy• Cause is certain• Premium paid is consideration• Warranties•Assignment•Nomination
8/4/2019 Banking & Insurance Lll-Sem
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pes of Life InsuranceLife Insurance . n do wm ent P ro du ct s
( .)Term 20yrs
+Sum Assured Bon
Nominee
Maturity
Sum
Assured
Age
(yrs.)
Term
minimum
50,000 12 5maximum
* 65 55
. hole Life policy
= /P limited period death
= /P Till Death Period +Sum Assured Bonus
/Nominee Dependents
Policy continues whole life
8/4/2019 Banking & Insurance Lll-Sem
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=P limited period
( .)Term 20yrs
Term
E
nd
+Sum Assured Bonus
Nominee
Maturity.15 yrs
.12 yrs
Premium
Term
• Suitable for businessmen and professionals as money is available• The risk cover increases by %0 in every 5 .years•
.
T e r m i n s u r a n c e
. J e e v a n S u r a b h i
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.An n u i t i e s.45 yrs .65 yrs
Term
End
Retirement
.Pension Amt
. -oney back policy
+Full Sum Assured Bonus
Beneficiaries
( )Premium high
C CC C
Provides -ash back .at regular intervals This plan is for people who are looking for periodical inflow
% +40 bonus
8/4/2019 Banking & Insurance Lll-Sem
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+Full Sum Assured Bonus
Premium
Lump sum 10 half yearly installmentsr
Beneficiaries
SumAssured
Age(yrs.)
Termminimu
m
50,000 18 5
maximum * 60 25
. /7 Marriage Endowment Education Plans
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PARALYSISCANCER KINDNEY HEART
%0( um Assured )
C C C C
0 20
Premium
%( )+0 assuredBonus
1
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.assured is less than 1 lakh then wife need not be a working member
.allowed for women that have undergone 3 or more cesarean operations’ .e s income is also considered to take up husbands insurance
( )Jeevan Saathi Joint Life Policy( )Jeevan Saathi Joint Life Policy
+ul l Sum Assured Bon
Sum assured
Premium
Nominee
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ØParents or even the uardian can propose the iØ =Minimum sum assured 1 lakh maximum sum assure
Komal Jeevan
0.6 yrs
Premium
8 18
+ul l Sum Assured Bonus
8/4/2019 Banking & Insurance Lll-Sem
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r consideration paid by the insured to the insurance company for purchasing the
.e plan and term
d by the insured to insurer on commencement of the policy and thereby pay on re
, .determined taking into account the interest component, , .their expenses contingencies fluctuations
.made and then the premium is calculated paid monthly , -half yearly or yearly
Premiums
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tribution Channels in Life Insurance Business tribution Channels in Life Insurance Business
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Milton ™