IPS Signature Money Back – Sales Pitch by Sujeet Kothare

Sir all in one term plan with us is a beautiful proposition. It covers you for all types of deaths. In case
its an accidental death, which is the biggest killer in India, our term plan doubles the sum assured. If
there is a critical illness, you get eth money basis just diagnosis and submission of reports and you
are free to choose your hospital, you are free to choose which country you want to get treated.
Besides it also gives tax advantages under Section 80C and 80D as well as section 10 (10D).
Customer might say, I agree it’s a beautiful proposition but what if I don’t get any critical illness what
if never die before really old age and what if accident never happened to me. Then I have lost my
money right?
Sir to address you this concern we have created a beautiful proposition called iProtect Smart
Signature Money Back. Sir before we created this product we studied the money back plans available
in Indian markets and we realized that there are 2 or 3 shortcomings. One, in most of term with
money back plans in market, customer has to wait for entire term of plan to get the his money. For
egample if 40yr old buys a term with return of premium for 40 yrs tenure, he will have to wait till age
80yrs to get his money back. Secondly, And if something happened to his after the money back is
received he had no cover. So, customer has to wait for entire tenure for a very very long time to get
his money back and second after receiving the money back there is no cover for him. And third, there
is no critical illness covered in these money back plans.
To overcome this we created a beautiful all in one proposition called iProtect Smart Signature Money
Back. Let me show you how it works (refer to the illustration). Customer is 40years of age, takes a
cover of 50L of rupees with 5L of critical illness cover. He pays a lakh and 40 thousand for 10 years.
So for next 10 years from 40 to 50 he has paid about 14lakhs of rupees, for which he is getting 50L
cover and 5L critical illness cover. This is for period of 35years. At the age of 55 which is 15 years, he
will get his money back of roughly 14L assuming he gets an average rate of return between 4% and
8%. So at 4% he will get 12L and at 8% he will get money back of 19L..so assuming at rate of 6% he
will get his money back what he paid 14L.
In other plans you will have to wait until 75yrs, but in IPS Signature money back ensures that you get
your money back in 15 yrs itself. Secondly after money is returned, there is no protection in other
plans, but in IPS Signature Money back if instance of critical illness happens he will benefit of critical
illness amount and his life cover continues. So for an example a 40yrs old pays 1.45L of money, he
gets his money back early, and the instance of either critical illness or death happens after money
back is received, we will still pay the nominee the benefits.
So lets see how does it work n equation of pay x get y… in case nothing happens to customer, no
critical illness or death during the tenure, you pay x and get 1.3x.
If critical illness happens, we give him 5L rupees, suppose he is diagnosed with heart condition
requires him to go for angiography or angioplasty, he gets his 5L…still gets his money back and a life
cover till 75. So he paid x and he received 1.7x.

Lets look at last scenario where he pays 14L rupees as premium, he gets his money back and after
that death happens, his family gets 50L. So he paid x and he gets 4.7x.

So what’s the beauty of this product – one, you don’t have to wait till end of tenure to get your
th
money back in 15 year. Second if you are diagnosed with any of critical illness you get additional 5L
rupees, advantage three is that if even after the money back payout the cover continues till 75 and if
he happens to die before that, nominee gets 50L. Besides you get tax advantages under Section 80C
and 80D as well as section 10 (10D)