IC38 Exam Mock Test Paper

Jeevan Ashtha

Life Insurance of India (LIC) has introduced a new single premium plan called “Jeevan Aastha” today. This plan is open only for 45 days. I would suggest this plan for those who prefer Bank Deposit (FD). Jeevan Aastha is as good as Bank deposit plus Insurance. You need to pay only ONE time premium. Jeevan Aastha ( Plan No. 195) Features and details: 1. Availability: 08-12-2008 to 21-01-2009 2. One time payment plan 3. Guaranteed Returns + Loyalty Additions. 4. High Risk Cover 5. convenient Terms (5 Yrs and 10 Yrs) 6. Tax Rebate and Tax Free maturity Maturity Benefits: Maturity Sum Assured along with Guaranteed Addition and Loyalty Addition, if any, Shall be payable. ( Maturity Sum Assured shall be 1/6th of Basic Sum Assured) Death Benefit: During the first policy year: Basic Sum Assured with Guaranteed Addition After 1st policy year excluding last policy year: 1/3rd of Basic Sum Assured with Guaranteed Addition During last policy year: 1/3rd of the S.A. Guaranteed Addition and Loyalty Addition, if any. Guaranteed Addition: Rs. 100 per thousand of Maturity Sum Assured per year for a policy of 10 years term. Rs. 90 per thousand of Maturity Sum Assured per year for a policy of 5 years term. Eligibility Conditions and Restrictions: a:) Minimum Entry Age: 13 Years completed b:) Maximum Entry Age: 60 Years ( Nearest birthday) c:) Minimum Basic Sum Assured: Rs. 1,50,000/- d:) Maximum Basic Sum Assured: No Limit j:) Large Sum Assured Rebate: Available e:) Policy Term: 5 or 10 years f:) Mode of premium payment: Single Premium g:) Loans: Available after 1 year h:) Back dating interest: Allowed @ rate of 10% (for dating back in excess of one month) Large Sum Assured Rebate: Calculated on per thousand basis.

Basic Sum Assured	Rebate
Basic Sum Assured	Term – 5 years	Term – 10 years
Below Rs.3,00,000	Nil	Nil
Rs.3,00,000 to Rs.5,99,999	Rs. 2.00	Rs. 3.00
Rs.6,00,000 to Rs.11,99,999	Rs. 2.50	Rs. 3.50
Rs 12,00,000 and above	Rs. 3.00	Rs.4.00