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Jeevan Shiromani & Bima Shree

Jeevan Shiromani & Bima Shree. A Detailed Study…. Jeevan Shiromani (Plan 847). Basic Features of 847. Age Group: 18 to 55 Terms allowed: 14/16/18/20 PPT: 10/12/14/16 (Premium Holiday during Last 4 Yrs) Max Age at Entry: 55/51/58/45 for Terms 14/16/18/20

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Jeevan Shiromani & Bima Shree

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  1. JeevanShiromani &Bima Shree A Detailed Study…. P. Sridhar/DO/Chennai

  2. P. Sridhar/DO/Chennai

  3. JeevanShiromani (Plan 847) P. Sridhar/DO/Chennai

  4. Basic Features of 847 Age Group: 18 to 55 Terms allowed: 14/16/18/20 PPT: 10/12/14/16 (Premium Holiday during Last 4 Yrs) Max Age at Entry: 55/51/58/45 for Terms 14/16/18/20 Min Sum Assured: 1 Crore (in multiples of 5 Lacs) Max Sum Assured: No Limit Inbuilt Critical Illness (15 diseases are covered) DAB Rider (or) AD & DB Rider Optional Critical Illness Rider & Term Rider P. Sridhar/DO/Chennai

  5. Various Benefits in 847 Plan Death Benefit Survival Benefit Maturity Benefit Inbuilt Critical Illness Benefit P. Sridhar/DO/Chennai

  6. Death Benefit • Within 5 years from commencement: • 125% of the S.A + Guaranteed Addition @ Rs.50 per thousand SA per annum • Death after 5 years from Commencement: • In addition to the above, Guaranteed Addition @ Rs.55 per thousand SA per annum from 6th onwards till year of death + L.A P. Sridhar/DO/Chennai

  7. Survival Benefit P. Sridhar/DO/Chennai

  8. Maturity Benefit P. Sridhar/DO/Chennai

  9. Inbuilt Critical Illness JeevanShiromani comes with Inbuilt Critical Illness Benefit 15 Contingencies are cover (details in the next slide) On diagnosis, 10% of Basic SA is payable immediately Option to defer payment of premium for 2 years without any interest P. Sridhar/DO/Chennai

  10. P. Sridhar/DO/Chennai

  11. Optional Riders DAB Rider (or) AD & DB Rider Term Assurance Rider Critical Illness Rider P. Sridhar/DO/Chennai

  12. DAB Rider Vs AD & DB Rider DAB Rider covers Accidental death only; that too till Premium Paying Term AD & DB Rider covers both Accidental death and Disability Benefit till the end of the term Tell me which is Better to the Client? P. Sridhar/DO/Chennai

  13. Survival Benefit can be taken anytime This is an Additional Feature Client can opt to take it any time after it falls due but before the end of the Term Such deferred payments of S.B would be given Compound Interest. It provides great flexibility to Clients to encash their money at their convenience P. Sridhar/DO/Chennai

  14. Maturity Proceeds in Instalments Yet another Lovely feature which would appeal to HNIs They can take Maturity Proceeds in instalments spread over 5 or 10 or 15 years. It is like self-created PENSION. They can either take Full Maturity or Part maturity in Instalments. P. Sridhar/DO/Chennai

  15. Maturity Proceeds (Contd…).) Client is given absolute comfort to take the instalments in Yly/Hly/Qly/Monthly LIC would be adding interest for the above 3-Months notice before maturity needed to take the value in instalments. Client can cancel the instalment payment anytime and take the left-over in BULK P. Sridhar/DO/Chennai

  16. Death Claim Proceeds also in instalments This is an added feature aimed at protecting the dependents through regular flow of money after the demise of L.A The L.A. can exercise option for the above feature in the same manner as in Maturity Nominee cannot subsequently change the option but to accept payments as decided P. Sridhar/DO/Chennai

  17. Paid-up Value… Policy acquires Paid-up Value even after payment of 1 year premium Death cover proportionately available Maturity benefit too as above SB also…. Inbuilt Critical Illness benefit too…. P. Sridhar/DO/Chennai

  18. Age 30 847/14(10) 1 Cr S.A. Yly: 11,37,535 P. Sridhar/DO/Chennai

  19. Age 30 847/16(12) 1 Cr S.A. Yly: 9,57,795 P. Sridhar/DO/Chennai

  20. Age 30 847/18(14) 1 Cr S.A. Yly: 8,26,700 P. Sridhar/DO/Chennai

  21. Age 30 847/20(16) 1 Cr S.A. Yly: 7,36,568 P. Sridhar/DO/Chennai

  22. Why should we sell Shiromani? P. Sridhar/DO/Chennai

  23. P. Sridhar/DO/Chennai

  24. Identify the Affluent People • Who are Affluent People? • Affluent People are in charge of • Business • Family P. Sridhar/DO/Chennai

  25. Qualities you need to be comfortable with affluent people… • Elite Sales skill • Sufficient knowledge of financial instruments • Knowledge of client’s operative areas P. Sridhar/DO/Chennai

  26. Segments • High Income Group • Wealthy Families • Industrialist • Traders • Artists • Politicians • NRIs P. Sridhar/DO/Chennai

  27. Main Aim of Affluent People • Wealth Accumulation • Cash Flow P. Sridhar/DO/Chennai

  28. Needs of Affluent People • Estate Planning • Financial Planning • Investment Planning • Retirement Planning P. Sridhar/DO/Chennai

  29. Specific needs of Affluent People • High Income Segment • Huge Risk Cover • Adequate annuity provision P. Sridhar/DO/Chennai

  30. Specific needs of Affluent People (Contd) • Industrialists & Traders • Cover Bank Liabilities • Consequences of death • Recovery from Debtors • Pressure from Creditors P. Sridhar/DO/Chennai

  31. Specific needs of Affluent People (Contd) • Artist, Politicians & NRIs • Sufficient Risk cover • Short-term, high premium P. Sridhar/DO/Chennai

  32. P. Sridhar/DO/Chennai

  33. EEEXCLUSIVE…… There is No Life Insurance Product in India for HNIs at present which offers Guaranteed Addition for the entire PPT. This Product not only ensures Safety of Capital but also Guaranteed Return on investment P. Sridhar/DO/Chennai

  34. H This Product comes with a Status Symbol tag that could specifically appeal to HNI Clients’ Psychology. This Product cannot be purchased by a Common Man. If this fact is highlighted, closing the sale becomes little easier. BRAND value matters… P. Sridhar/DO/Chennai

  35. H Higher quantum of Risk Cover (125%) adds vitality to this Product. Loan at the end of 1 year, proportionate risk cover/maturity value/Inbuilt Critical Illness cover even after the policy lapses after payment of 1 Yly premium is too attractive. P. Sridhar/DO/Chennai

  36. Easy way to MDRT with 847 Any Agent can become MDRT by selling just 4 SHIROMANI Policies We come across Numerous HNIs in our day to day life But, we fail to OPEN OUR MOUTH Secret to Succeed in our Profession is: ASK… ASK…. ASK…. P. Sridhar/DO/Chennai

  37. What next? • Find out whom all to approach • Discuss their profile with your D.O. • Let us both decide on proper starategy • Fix appointment with the Client • Do your Best P. Sridhar/DO/Chennai

  38. P. Sridhar/DO/Chennai

  39. Bima Shree (Plan 848) P. Sridhar/DO/Chennai

  40. Basic Features of 848 Age Group: 8 to 55 Terms allowed: 14/16/18/20 PPT: 10/12/14/16 Max Age at Entry: 55/51/58/45 for Terms 14/16/18/20 Min Sum Assured: 10 Lacs (in multiples of 1 Lac) Max Sum Assured: No Limit DAB Rider (or) AD & DB Rider Optional Critical Illness Rider & Term Rider P. Sridhar/DO/Chennai

  41. Various Benefits in 848 Plan Death Benefit Survival Benefit Maturity Benefit P. Sridhar/DO/Chennai

  42. Death Benefit • Within 5 years from commencement: • 125% of the S.A + Guaranteed Addition @ Rs.50 per thousand SA per annum • Death after 5 years from Commencement: • In addition to the above, Guaranteed Addition @ Rs.55 per thousand SA per annum from 6th year onwards till year of death + L.A P. Sridhar/DO/Chennai

  43. Premium Waiver Benefit Policies on the Life of Minor PWB available for Parents If opted, Child is insulated against unfortunate demise of Proposer Parent First time feature in a Non-Child Plan P. Sridhar/DO/Chennai

  44. Survival Benefit P. Sridhar/DO/Chennai

  45. Maturity Benefit P. Sridhar/DO/Chennai

  46. Age 30 848/14(10) 10 Lac S.A. Yly: 1,14,829 P. Sridhar/DO/Chennai

  47. Age 30 848/16(12) 10 Lacs S.A. Yly: 96,752 P. Sridhar/DO/Chennai

  48. Age 30 848/18(14) 10 Lacs S.A. Yly: 83,643 P. Sridhar/DO/Chennai

  49. Age 30 848/20(16) 10 Lacs S.A. Yly: 74,630 P. Sridhar/DO/Chennai

  50. Why should I sell Bima Shree? P. Sridhar/DO/Chennai

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