prmi presentation

8/13/2019 PRMI Presentation

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Child education and marriage plan

TOPIC


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GROUPMEMBERS

ABDUL NASIR L1F11MCOM0028

SADDAM HUSSAIN L1F11MCOM0008

ALI HUSSAIN L1F11MCOM0009

SHIRJEEL AKRAM L1F11MCOM0031

MUHAMMAD ATTIQ L1F11MCOM2039

MUHAMMAD FAHEED L1F11BCMH0001

MUHAMMAD AFTAB L1F11BCMH0002


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CHILDEDUCATION&

MARRIAGEPLAN

Irrespective of where we come from, what we arenow or what we want to be, some aspirations

common to all are those for our childrens future: a

good education and a marriage performed andcelebrated well. Further, in these competitive times,a first-class education is a ticket to a great future.Hence, we as parents are all the more keen that weshould have enough funds to provide the best

education to our children more than any estate orproperty.


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NEEDOFCHILDEDUCATION

& MARRIAGEPLAN

Lack of economic stability

To save future of children

Expensive higher education

Expensive marriages

Due to inflation


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COMPANY

State life of Pakistan.


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SALIENTFEATURES

OF POLICY

.

Save the future of children

If the policyholder dies (GOD forbid) before completion of the

term company will also provide a family income benefit.

Its your choice to select maturity date.

It provide lump sumpayment for your Sons or Daughter's

higher education or marriage when you need it most.


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SILENTFEATURES

In case of death of child the parent or guardian can transfer

the insurance to other child or person

In case of death of parent child will get lump sum amount on

maturity plus bonus

This pre-designated age of either 18, 21 or 25 Years.


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BENEFITS

Remove parent worries regarding child

education and marriage.

Secure your child future.

Fulfill financial needs regarding child education

and marriage.


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AGERESTRICTIONS

At the time of agreement the minimum age of policy Ownershould not less than 20 years and maximum age should notbe more than 60 years, plan will mature before he or shereach the age of 70 years.

The minimum age of child must be 1 year and maximumshould not accede 15 years at the time agreement.


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DEATHOFPOLICYOWNER

In case of death of policy owner during currency ofpolicy, future premium payments are waived but policyremain intact.

The sum insured plus accumulated Bonuses will pay onmaturity.

Beside, an income benefit of 24% of sum insured perannum will start immediately.

EXAMPLE

o For policy of 100,000 the amount of 24000 per annumwill be provided as income benefit.


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DEATHOFCHILD

If (GOD forbid) child dies than policy owner have three possiblerights,

1. Transfer that policy to another child without any term adjustment.

2. Get a refund of all the previous premiums paid till the death of thechild.

3. Continue the policy without naming another child in which casethe benefit of Refund of Premium [as provided above undercondition (2)] will not be available but he will receive sum insuredplus bonus on maturity.


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BONUSES& INTEREST

Now, we discuses the term of Bonus from the contract of

State Life because it very from company to company.

97.5% surplus of States Life is distributed by Law to itspolicyholders as Bonus.

State Life is charging 28.9% interest.


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ILLUSTRATIONUNDERTHIS

PLAN

Policyholders age at issue 35 years

Term of policy 20 years

Childs age at issue 1-5 years

Selected sum assured PRs 100,000

Annual premium 6,445


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POLICYOWNERDIES10

YEARSAFTERISSUE

Total premium paid 64,450

Amount payable annually

for remaining 10 years 24,000

Total income received in 10 years. 240,000

Amount payable at maturity 100,000

Bonus payable at maturity 165,000

Total Benefits received 505,000

Note: bonus is assumed


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POLICYOWNERSURVIVED

TILLMATURITY

Total Premium paid 128,900

Amount payable at maturity 100,000

Bonus payable at maturity 205,000

Total Benefits received 305,000

Note: bonus is assumed


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Role Play


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CHARACTERS

Abdul Nasir (as ch Imam Din) Ch Sb

Saddam Hussain (as Saddam) Guest

M.Attiq (as Hashim) Servent

M.Faheed (as Shahid) Agent


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AFTER2 HOURS...


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