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    751 Micro Bachat For Agents 1

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    sanju the nice guy
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    751 Micro Bachat For Agents 1

    Uploaded by

    sanju the nice guy
    105 views12 pages
    L

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    751-micro-bachat-for-agents-1

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    L

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    105 views12 pages

    751 Micro Bachat For Agents 1

    Uploaded by

    sanju the nice guy
    L

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 12

    Plan 751 Micro Bachat

    UIN: 512N329V03
    Agents Training Material By
    K B Jagetiya
    Manager(Products and Digital Marketing)
    Prepared on 9-10-2024
    Micro Bachat Plan 751

    Plan no. 751 UIN 512N329V02


    A non linked, Participating,
    Endowment Micro Insurance Plan
    GST FREE

    GST FREE PLAN

    LIC’s Micro Bachat Plan


    Is Only the plan where

    NO GST on Premium
    Plan Basics
    • Available for Age 18 Completed to 55 Years Nearer Birthday.
    • Policy term Min 10 Years, Max 15 Years. PPT = Policy Term.
    • Sum Assured Min. 1,00,000 Max 2,00,000
    • Loan facility available after 1 year.
    • Available Life Insurance Riders:
     LIC’s Accidental Death and Disability Rider (UIN512B209V02)
     LIC’s Accident Benefit Rider (UIN: 512B203V03).
    • Loyalty Addition.
    • Surrender facility after completion of 1 Year.
    • Mode of Premium Payment
     For SA Less than Rs.2 Lakh : Yearly, Half Yearly
     For Rs. 2,00,000 : Yearly, Half Yearly, Quarterly, Monthly NACH and
    SSS.
    Death and Maturity Benefit
    • On death during first five policy years: Sum
    assured on death i.e.
     Higher of
    A. 7 Times the annualized Premium
    B. Basic Sum Assured
    C. 105% of total premium Paid
    • On death after completion of five policy years
     Sum Assured on death + Loyalty Addition
    • On Maturity : Basic Sum Assured+ Loyalty
    Addition
    Commission – 751 Micro Bachat

    Commission for Agents:


    First Year :10%
    Subsequent Years : 6%
    No Bonus Commission payable.

    DO Credit
    Policy term 10 to 14 years = 30%
    Policy term 15 Years = 60%
    Where is my market?

    • Some Plan not allowed after 50 Years, Micro


    Bachat available up to Age 55 Years.
    • Auto Cover facility
     3 years premium Paid : 6 months cover from FUP
     5 years premium Paid : 2 years Cover from FUP
    Big opportunity for covering MAB and lives for
    Club membership.
    Misc Points

    • Customized benefit illustration


    • Customer Information Sheet and Need Analysis
    document is part of policy.
    • Fee look period : 30 days
    • Days of Grace : 30 days for YLY/HLY/QLY, 15 days
    for Monthly NACH and SSS.
    • Nomination, Assignment Allowed.
    • Accident Benefit can be taken up to 3 times of
    Basic Sum Assured.
    My opportunity

    TOTALLY NON MEDICAL PLAN

    Big opportunity
    Minimum Sum Assured
    1,00,000 only
    ILLUSTRATION – plan 751
    Age 30 Years
    Term 15 Years
    Sum Assured 2,00,000
    Yearly Premium 10,400
    Maturity SA 2,00,000
    Loyalty Addition 30,000
    Expected Maturity Amount 2,30,000
    Loyalty addition is payable provided 5 policy years are completed with at least five full
    years premium have been paid and maturity paid up SA is 1 lakh or more.
    Start from today

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