Life without compromises!!

Lets plan a holiday!!

Life without compromises!!

Health Bhi Taste Bhi

Kadi Safai Magar Pyaar se

Tough Bhi Soft Bhi

Sab kuch chahiye…

PMG/LGP/Ver 1.0/July'10 2
Is it true for financial decisions??

Where will I
get all this
without Safety of investments
compromise?
??? Guaranteed Returns

Higher Protection

Great Flexibility

What to do???
PMG/LGP/Ver 1.0/July'10 3
Historically people have invested in…

Instrument % of Duration Pre Tax Tax Post Tax

Investme in Years Return Treatment Return
nt
Fixed Deposit 40% 5 8.5% Taxable 5.95%
Interest
Life Insurance 15% 5 - 30 6%-10% Tax Free 6% - 10%
However majority
Post Office 5 7.5% - 8% Taxable
with a 5.25% -
Instruments Interest
compromise!! 5.6%
National 17% 6 8% Taxable! 5.6%
No flexibility
Savings Interest
No protection!
Certificate
PPF 14% 15 8.5% Tax Free 8.5%
Others 14% 1-10Yrs Varies Taxable Varies

PMG/LGP/Ver 1.0/July'10 4
 Complete Financial Solution without
compromise !!
Instrument % of Duration Pre Tax Tax Post Tax
Investme in Years Return Treatment Return
nt
Fixed Deposit 40% 5 8.5% Taxable 5.95%
Interest
Life Insurance 15% 5 - 30 6%-10% Tax Free 6% - 10%

Post Office 5 7.5% - 8%Life

Taxable 5.25% -
Instruments Interest 5.6%
National 17% 6 8%
Insurance
Taxable 5.6%
Savings Interest
Certificate
PPF 14% 15 8.5% Tax Free 8.5%
Others 14% 1-10Yrs Varies Taxable Varies

Safety of Guaranteed Higher

PMG/LGP/Ver 1.0/July'10
Great 5
investments Returns Protection Flexibility
To add to the excitement of 2010…

We now bring to you

another world-class
product without any
compromises!!
Life Gain Plus
A Traditional, participating
plan…offering…

Safety of investments

Guaranteed Returns

Higher Protection

Great Flexibility

…So that you can enjoy a long

holiday called…Life!
 A Perfect Solution for Life’s Holiday!!

Safety of investments
–Investment Pattern as regulated by IRDA
Guaranteed Returns
–Guaranteed addition at maturity …110% of SA on maturity

Higher Protection
–Double Death Benefit - After 5 years – Double SA + Bonuses.,
Within 5 years – SA + Bonuses
–Riders for enhanced protection
Great Flexibility
–To choose tenor and
–Option to pay premiums in Limited payment period and,
–To switch between different bonus options
PMG/LGP/Ver 1.0/July'10 8
Safety of Investment - Investment strategy for
traditional products

In line with IRDA

Investment guidelines for
traditional products!
Guaranteed Returns – Maturity Benefit

SA with accrued
bonus at the end
Guaranteed of 25th Year
Maturity +
110% of Sum Guaranteed
Addition – 10% of
Assured SA

Issue of policy Maturity of

– Year 0 policy – Year 25
Premiums Paid:
Rs 300,000
Maturity values:
Premium payment tenor – 15 years • Guaranteed MB -
Rs. 4,41,943
Sum Assured • Non Guaranteed @ 6% -
Rs. 4,01,766 Rs. 6,27,656
• Non Guaranteed @ 10% -
Rs.10,76,410

First premium
Male age 30, Premium 20,000,
PMG/LGP/Ver PPT 15 yrs and Term 25 yrs
1.0/July'10 10
 Higher Protection – On Death….

Guaranteed
Double SA Rs. 8,03,532
with accrued
bonuses on Death Non Guaranteed
after 5 years of
policy in force •@ 6% - Rs. 8,33,818
Death at •@ 10% - Rs.8,88,152
10 years
Death within 5 Sum Assured
Rs. 8,03,532
years
Issue of
policy – Maturity of
Year 0 SA + accrued bonuses policy – Year 25

Death after 5 years –

Sum Assured
Rs. 4,01,766 Double SA + accrued bonuses

Male age 30, Premium 20,000,

PMG/LGP/Ver PPT 15 yrs and Term 25 yrs
1.0/July'10 11
Higher Protection – On Death & Sickness

Rider Options:

• PAB

• Term Rider

• DD Rider

• WOP Rider

• Term R&C Rider

Inbuilt Protection:

• Terminal Illness coverage- up to 50% of SA paid upfront on diagnosis of a

terminal illness.

PMG/LGP/Ver 1.0/July'10 12
 Higher Flexibility
• Option to Choose Policy Term basis your life stage milestone:
– 20 Years or
– 25 Years
• Pay while your earning are higher - Limited Premium Payment
option
– 10 Years PPT for 20 Year Term
– 10/15 Years PPT for 25 Year Term
• To switch between different bonus options
– Cash
– Premium Offset
– Paid up addition(PUA)

PMG/LGP/Ver 1.0/July'10 13
Flexibility - Bonuses Provide a Wide Array of
Choice…

• Cash: take the amount of bonus declared as

cash
• Premium Offset : the bonus amount can be
used to adjust against future premiums payable
• Paid Up Additions:
– The bonus amount can be used to purchase
I AL PUA
PE C – Whereby the Sum Assured will increase the
S insurance cover every year and add to base
coverage
– PUA’s are participating in nature and
generate further bonuses
– Can Be separately surrendered if customer
wants to access the cash value of these PUA’s

Customers have the flexibility to switch between

bonus options
PMG/LGP/Ver 1.0/July'10 14
Life Gain Plus – Bonus declared in 2010

Age Bonus Bonus Cash Bonus Per

Projection @ Projection @ Rs. 1000 SA
6% 10%

25 4.57 11.87 7.669

30 4.69 12.21 7.884

35 4.93 12.82 8.277

40 5.27 13.70 8.850

PMG/LGP/Ver 1.0/July'10 15
 Life Gain Plus - Plan Details
Entry age (years) 18
Max Entry age
Term 20 - 55 Yrs : Term 25 - 50 Yrs
(years)
Maximum maturity
75
age (years)
Policy term 20,25 years
Premium payment 20 - 10 pay
term 25 - 10/15 pay
Min Sum Assured
50000
(Rs)
Max Sum assured
No Limit
(Rs)
Riders allow ed PAB,Term, Term R&C, DD,WOP
Sum assured w ith guaranteed additions &
Living benef its
accrued bonus
Policy in f orce < 5yrs
Sum assured
Death benef its
Policy in f orce > 5yrs
Double of Sum assured
Guaranteed 10% addition
Others benef its
Bonus once declared, is guaranteed
PMG/LGP/Ver 1.0/July'10 16
For details refer to product brochure..
 Tax Benefit
• Tax deduction u/s 80C- On premium paid up to a
maximum limit of Rs 1 Lac

• u/s 10(10D)- Tax Free proceeds (maturity&

survival benefits)

PMG/LGP/Ver 1.0/July'10 17
 Client – Prospect talk points

n n in g for Divers
pla i
ave s ta r te d
s? the gu fy your inve
u h g arante s
Ho pe yo
r fu ture s av i n e retu tments: Enj
you rn ava oy
LGP ilable with

is g r o w ing up.
/daughte r
Yo u r s on
to c r ea te some Daily consum
ption items a
’t y ou wan t becoming ex re
W o u ldn
fo r th e ir future pensive…we
ssets suggest
financial a you build a fin
ancial buffer
needs? unforeseen c to meet
ircumstances
.
PMG/LGP/Ver 1.0/July'10 18
 A Quick Re – Cap for Life’s Holiday!!

Safety of investments
–Investment Pattern as regulated by IRDA
Guaranteed Returns
–Guaranteed addition at maturity …110% of SA on maturity

Higher Protection
–Double Death Benefit - After 5 years – Double SA + Bonuses.,
Within 5 years – SA + Bonuses
–Riders for enhanced protection
Great Flexibility
–To choose tenor and
–Option to pay premiums in Limited payment period and,
–To switch between different bonus options
PMG/LGP/Ver 1.0/July'10 19
 With ..
Life Gain Plus y! !
l id a
H o
d a
n ne
pla
a v e
e h
Enjoy Life without
W
compromises!!
PMG/LGP/Ver 1.0/July'10 20
Happy Selling ☺
Lets see how!

PMG/LGP/Ver 1.0/July'10 21
 Life Gain Plus- Suitable for a Lifetime

A young couple 25 to
40 years of age

Easy, Happy & Tension free

Old Age

People Over 40
 LGP sales pitch
For the age group 25 -40

• Long term coverage and a plan that gives compounded bonus

• Supplements the investments you currently have, provides additional tax
benefits
• Money on maturity can be used for various purposes:
• Payment towards a housing loan
• Further education of children
• Marriage
• Holiday
You pay Rs 2.5 lacs in 10 yrs and
you get back Rs10.32 lacs
in 25 yrs

EE:: 3333 45500 00000

AAG .33,,5577,,4 ss..2255,,0 100 yyrrss
G
Rss. m:: R R PTT==1 Mr
Mr Kamal
Kamal and
and Family
Family
SS..AA Rmiiuum dd PPP A
r
ree m aann UA Salaried:
Salaried: Marketing
Marketing Manager
Manager
n uu aall PP 200 yyrrss onn:: PPU
n
Ann teerrm = 2 ppttiio
A
t m= ss O O
o lliiccy Boonnuu
y
PPo B

• On a conservative note at 10%,By age 55, the total cash value

of the fund is Rs10,32,789./-
• Partial withdrawal can supplement Money backs to meet bigger
money needs.
• In case of demise spouse can utilize money as capital annuity
/pension
• As and when required the cash option for bonus can be
exercised.
 LGP sales pitch
For the age group of 41-55

• Long term coverage and a plan that gives compounded bonus

• Supplements the investments you currently have, provides additional tax
benefits
• Money on maturity can be used for various purposes

RETIREMENT
You pay Rs 3.5 lacs in 10 yrs and
you get back Rs. 9.67 lacs
in 25 yrs
EE:: 4433 90066 ,00000
AG .33,,9977,,9 s.. 3355,0 100 yyrrss
A G
Rss. :RRs T==1 Mr
Mr Anil
Anil
SS..AA Rmiiuum m: dd PPPPT
n College
College Professor
a ll PPrreemyyrrss aan : PPU UAA Professor
nnuu a 200 o nn:
= 2 ppttiio
Ann tteerrm
A m= ss O O
o lliiccy Boonnuu
y
PPo B

• On a conservative note at 10%,By age 68, the total cash value

of the fund is Rs.9,67,863 /-
• Partial withdrawal can supplement Money backs to meet bigger
money needs.
• In case of demise spouse can utilize money as capital annuity
/pension
• As and when required the cash option for bonus can be
exercised.
 Operations Simplified
Consolidation of Traditional Proposal Form
Life Gain Plus, Bonus Builder and Safety Net
Page 1
Old Proposal Form

1. No rural urban classification

2. Proof of age, identity and address proof was

captured in questions 7 & 14 respectively on
page 1 & 2
3. Objective of insurance captured in question 24
on page 2

New Proposal Form

1. Rural/urban/social sector flagging on proposal
form
2. Proof of age, identity and address proof to be
captured on the top of the new proposal form
3. Objective of insurance options elaborated and
will now be captured on top of the form
4. Previous MNYL policies to be captured on top of
the form
 Page 1 (contd.)
Section A: Personal Details
Old Proposal Form
1. Gender & Date of Birth two separate questions

2. Only 2 options for Nationality

3. Educational Qualifications exists

4. Income Source was question number 15 on page 2

New Proposal Form

1. Gender & Date of Birth clubbed

2. Nationality options elaborated

3. Educational Qualifications omitted

4. Income Source reformatted and moved to

question 8 on page 1
 Page 1 (contd.)
Section A: Personal Details
Old Proposal Form

1. Nature of Business & Duties were separate questions

2. Occupation related question 22 was on page 2

New Proposal Form

1. Nature of Business & Duties clubbed

2. Occupation related question 13

reformatted and moved to page 1

3. Driver specific question omitted

 Page 1 (contd.)
Section A: Personal Details
Old Proposal Form
1. Address of both Proposer and Life insured captured

2. Work Address was question 23 being captured on

page 2
3. E-mail correspondence question not there on old
proposal form

New Proposal Form

1. Address of only Proposer will be captured

2. Work Address is now question 17 being

captured on page 1
3. E-mail correspondence question included in
the new proposal form
4. Format of capturing the Address has now
changed
 Appointee Details
Old Proposal Form

New Proposal Form

1. Appointee Details moved from question 12 on page 3 in the old form to question 19 on page 1
in new form
2. Address and Signatures of Appointee removed
 Page 2
Section B: Coverage Information
Old Proposal Form

1. Premium Payment Term captured as a separate

question

2. Plan & Rider name mentioned on the form

New Proposal Form

1. Premium Payment Term now being captured in
the table for Type of Coverage

2. Plan and Rider details to be filled by the

customer
 Page 2
Section B: Coverage Information

1a. Mention the name of the Plan against “Base Name Plan”
Plan”
• Coverage term – Policy term as per Product Specs & desire of customer needs to be filled.
• Coverage amount /unit – Coverage amount as per the Plan chosen needs to be filled & coverage
coverage unit to be mentioned (only in case of Safety Net)
• Premium Paying Term – Needs to be filled as per customer’
customer’s desire (Regular or Plan Specific)
• Modal Premium – Premium as per mode of Premium (ANNUAL) needs to be filled.
1b. Mention the name of the rider opted for under Rider/Option
• Coverage term – Rider term as per desire of customer needs to be filled.
• Coverage amount of Riders taken needs to be filled
• Modal Premium – Rider Premium as per mode of Premium (Annual) needs to be filled.
filled.

Total Modal premium Total Premium paid (inclusive of

(inclusive of base Service tax on total modal premium total modal premium + service
plan premium + rider tax)
premium )
 Plan wise coverage details

Life Gain Plus Safety Net Bonus Builder

•Base Plan Name •Base Plan Name
•Base Plan Name
Life Gain Plus Safety Net
Bonus Builder
•Coverage Term •Coverage Term
•Coverage Term
20, 25 years 10/15/20/25 or 30 years
To age 100
•Coverage Amount •Coverage Amount
•Coverage Amount
Min – 50,000 Min - 2,00,000
Min – 50,000
Max – No limit (subject to UW) Max - 40,00,000
Max – No limit (subject to UW)
•Premium Paying Term •Premium Paying Term
•Premium Paying Term
10 years (for 20 year plan); 10, 15 Regular
20 years or to age 60, which ever is
years (for 25 year plan) •Modal Premium
higher
•Modal Premium Premium as per mode opted for
•Modal Premium
Premium as per mode opted for (Annual)
Premium as per mode opted for
(Annual) •Rider
(Annual)
•Rider None
•Rider
PAB, Term (5/10), DD (10/15 year),
PAB, Term, DD, WOP, OPPB, GIO
Term R&C, WOP
 Product Specifications
Life Gain Plus Endowment Amsure Bonus Builder Lifeline Safety Net
Age at Entry (Last 18 years to 55 years 18 yers to 50 years
Birthday) 18 years to 60 years
Maximum maturity age 75 years 100 years
75 Years
Minimum Face Amount Rs. 50,000/- Rs. 50,000/-
Rs. 2,00,000
No limit (subject to No limit (subject to
Maximum Face Amount underwriting) underwriting conditions) Rs. 40,00,000
20, 25 years To age 100 10/15/20/25 or 30
Tenors
years
10 years (for 20 year plan); 20 years or to age 60, Regular
10, 15 years (for 25 year plan) whichever is higher
Premiums to be paid
Premium Paying Terms
annually or monthly
(only through direct
debit)
PAB, Term (5/10), DD (10/15 PAB, Term, DD, WOP, None
year), Term R&C, WOP OPPB, GIO
The premium payment and The rider coverage term
Riders allowed coverage term for riders will for riders will always be
always be less than or equal less or equal to the base
to the base policy premium policy payment term
payment term
 Page 2
Section C: Information of Life Insured
Old Proposal Form

1. All the existing Coverage Details required

2. Claim made / Rejection details Being

captured in question 2

New Proposal Form

1. Existing Coverage Details required only for last 6
months

2. Claim made / Rejection details omitted

 Page 2
Section C: Information of Life Insured
Old Proposal Form
1. Life style details were captured under Section D on
page 4
2. Foreign travel details required for last 5 years and
next 12 months. Details were captured under question 9
on page 4

3. Three questions being captured for Juvenile

Applicant details
4. Female Applicant details had 6 questions and was
captured under Section D on page 4

New Proposal Form

1. Life style details moved to Section C on page 2

2. Foreign travel details required for next 12

months only. Question moved to Section C on page 2
3. Only one question will now be captured for
Juvenile Applicant details

4. Female Applicant details now has only 5

questions and is now being captured under Section
C on page 3
 Page 3
Section D: Medical Information
Old Proposal Form
1. Entire Family History Required

New Proposal Form

1. Only Adverse Family History is required now

 Page 3
Section D: Medical Information
Old Proposal Form
1. 17 Medical Questions being captured. Question
3rd, 5th, 6th & 7th have been clubbed in new form

2. Tobacco consumption details for entire life required

New Proposal Form

1. Medical Questions reduced from 17 to 16 (same
as in UL form). Question 3rd, 5th, 6th & 7th have been
clubbed in new form

2. Tobacco consumption details required for only

last 3 years

3. Medical Report Enclosure being captured

under question 4
 Proposal Form Page – 2 (Coverage Details)
Plan Name to be filled

1 2 3 4

5 6 7 8

9 10 11

1. Coverage term – Policy term as per Product Specs & desire of customer needs to be filled.
2. Coverage amount /unit – Coverage amount as per the Plan chosen needs to be filled & coverage
coverage unit to be mentioned (only in case of Safety Net)
3. Premium Paying Term – Needs to be filled as per customer’
customer’s desire (Regular or Plan Specific)
4. Modal Premium – Premium as per mode of Premium (ANNUAL) needs to be filled.
5. Mention the name of the rider opted for under Rider/Option
6. Coverage term – Rider term as per desire of customer needs to be filled.
7. Coverage amount of Riders taken needs to be filled
8. Modal Premium – Rider Premium as per mode of Premium (Annual) needs to be filled.
filled.
9. Modal Premium without Service Tax and Coss – Total Modal premium (inclusive of base plan premium + rider premium )..
10. Service Tax and Education Coss – Service tax on total modal premium..
11. Total Premium Paid – Total Premium paid (inclusive of total modal premium + service tax)..
Enhanced Medical Grid for all Traditional
Products Earlier it was CAT 3
Sum Assured (INR) Age
Years 18 to 30 31 to 40 41 to 50 51 to 55 56 to 70 71 to 75
Up to 500,000 NM NM NM NM CAT 1 CAT 4
500,001 to 10,00,000 NM NM NM CAT 4 CAT 4 CAT 5
10,00,001 to 15,00,000 NM NM CAT 4 CAT 5 CAT 5 CAT 6
15,00,00, to 20,00,000 NM CAT 3 CAT 5 CAT 6 CAT 6 CAT 7
20,00,001 to 30,00,000 CAT 3 CAT 3 CAT 6 CAT 6 CAT 6 CAT 7
30,00,001 to 50,00,000 CAT 4 CAT 4 CAT 6 CAT 6 CAT 6 CAT 7
50,00,001 to
1,00,00,000 CAT6 CAT 6 CAT 6 CAT 6 CAT 6 CAT 7
Above 1,00,00,00, CAT7 CAT 7 CAT 7 CAT 7 CAT 7 CAT 7

 Last 2 years MNYL policies would be considered for calculating eligible SA basis
enhanced medical grid
 For Medical SA will be count Single for all Traditional Products.
 If customer is taking a policy for SA Rs.5Lac. Medical SA will be count as
5Lac only.
Medical & Financial calculation for
Traditional Products
• If 49 years old customer is taking a Policy for Bonus Builder Plan SA is
10 Lac. He doesn’t have any previous Policy. What Medical category
will be required?
• -- Non Medical.
• 2. If 50 years old customer is taking a Policy for Safety Net Plan SA
15 Lacs and he has one previous Policy in year 2009 for SA 10 Lacs,
Plan SRB. What Medical category will be required?
• -- CAT 5.
• If 49 years old customer is taking a Policy for Life Gain Plus Plan SA 9
Lacs and Customer has one previous policy in year 2010 of 15 Lac SA,
Plan Magic Builder. What Medical category will be required?
• -- CAT6.
New Financial Grid for all Products
FINANCIAL GRID Non-Term Policies
Sum Assured → Prm 1 lac
>20L to >30L to >40L to
Document List ↓ Upto 20L 30L 40L 50L >50L & above

ITR (Last 2 years) - Yes Yes Yes Yes Yes

Audited Balance Sheet + Profit &
Loss A/c (Last 2 yrs) - Yes Yes Yes Yes Yes
Form 16 (Last 1 year) - Yes Yes Yes Yes Yes
Salary Slip (Last 2 months) - Yes Yes Yes Yes Yes
Latest Car insurance papers in
individual's name - Yes Yes Yes No No
Property Valuation papers in
individual's name - Yes Yes Yes No No
Individual Savings Bank
Account for last 6 months - Yes Yes No No No
FQ Report - Yes No No No No

Bank Statement:
• Savings Bank Account Statement of last 6 months to be submitted
• Bank Statement should be in individual name (Joint Account statement only with spouse is allowed)
• Estimated Income = Average Balance of last 6 months * 6
Car Insurance Papers:
• Car Insurance papers should be in the name of Individual
• Car should not be of more than 3 years old
• Estimated Income = 75% of the insured value of the car
Thank You