Insurance Proposal for

Mr. Pankaj L
for Annual Income of Rs. 220000/from age 56 to 60

Presented by
Harish Chand
LIFE INSURANCE CORPORATION OF INDIA
IRDA Authorised Insurance Advisor
PH. 09811896425, 09212201725
help@delhilicagent.com
www.delhiLICagent.com

Presented by
Harish Chand
LIFE INSURANCE CORPORATION OF INDIA
IRDA Authorised Insurance Advisor
PH. 09811896425, 09212201725
help@delhilicagent.com
www.delhiLICagent.com

Overview of Insurance & Retirement Plan for

Mr. Pankaj L
The objective of this proposal is to provide financial security to your family during your
productive span and a happy independent retired lifestyle for yourself and your spouse
when you decide to retire.

Under this insurance proposal you will need to make

premium payments of Rs.16364/- p.a. from your own
funds till your age of 55 years. This proposal provides for
a high riskcover of Rs.522500/- starting at age 27 and
growing to Rs.1532500/- at age 56.

In the year 2040 when you will be 56 years of age, you

will start receiving annual tax free income every year till
60 years of your age. Income starts at Rs. 298038 per
annum and increases by approximately 0.00 % every
year to take care of inflating costs of living. There is a
provision of risk cover during this period too. In case of
death during this period lump sum amount corresponding
to the prevailing risk cover will be paid to your nominee.

No premiums are payable from own fund after deferment

period, that is, after age 55.
In the event of any emergency or financial difficulties,
there is a provision under this Magic Plan to provide loan
against the insurance policy. The loan is available after 2
years of completion of the policy and payment of 3 yearly
premiums.
Premiums are available for exemption under sec.80 CCE of
income tax act upto Rs.100000/- per annum.

Disclaimer
u Magic-Plan Retire & Enjoy is a combination of LIC plans specially researched to meet the objective of securing a financially

independent life for yourself and your spouse on retirement.

u The benefits shown in this presentation have been calculated on the basis of interim bonuses declared by LIC for the year

ended 31-Mar-2010. Actual results may deviate depending on the future bonuses declared by LIC.
u Loan calculation is done on the basis of present surrender value rates.
u The effective yield in the above proposal works out to 8.98 % (calculated as per IRR method).

Harish Chand
LIFE INSURANCE CORPORATION OF INDIA
IRDA Authorised Insurance Advisor
PH. 09811896425, 09212201725
help@delhilicagent.com
www.delhiLICagent.com

MagicPlan - Retire And Enjoy - II

Quotation Ref.No.

: Pension234

Quotation Date

: 11/02/2011

Proposers Name

: Mr. Pankaj L

Proposers Age

: 27

Sum Proposed

: 500000

Yearly Premium

: 16364

Sec.80 CCE Invt. Lmt.

Sec.80 CCE Tax Rebate

: 100000

(nearer birthday)

: 33.99 %

Benefits During Deferment Period

Risk Cover

Yearly
Premium

Tax
Saved

Net
Premium

Loan
Available

1022500

16364

5562

10802

1045000

16364

5562

10802

567500

1067500

16364

5562

10802

7250

30

590000

1090000

16364

5562

10802

18750

31

612500

1112500

16364

5562

10802

26000

2016

32

635000

1135000

16364

5562

10802

34000

2017

33

657500

1157500

16364

5562

10802

43500

2018

34

680000

1180000

16364

5562

10802

53750

2019

35

702500

1202500

16364

5562

10802

65500

2020

36

725000

1225000

16364

5562

10802

78250

2021

37

747500

1247500

16364

5562

10802

93500

2022

38

770000

1270000

16364

5562

10802

109750

2023

39

792500

1292500

16364

5562

10802

128000

2024

40

815000

1315000

16364

5562

10802

148500

2025

41

842500

1342500

16364

5562

10802

171000

2026

42

867500

1367500

16364

5562

10802

196250

2027

43

892500

1392500

16364

5562

10802

224000

2028

44

917500

1417500

16364

5562

10802

253500

2029

45

942500

1442500

16364

5562

10802

289000

2030

46

970000

1470000

16364

5562

10802

326750

2031

47

997500

1497500

16364

5562

10802

367500

2032

48

1035000

1535000

16364

5562

10802

411750

2033

49

1092500

1592500

16364

5562

10802

459250

2034

50

1155000

1655000

16364

5562

10802

511250

2035

51

1227500

1727500

16364

5562

10802

568000

2036

52

1300000

1800000

16364

5562

10802

633250

2037

53

1377500

1877500

16364

5562

10802

708500

2038

54

1455000

1955000

16364

5562

10802

794000

2039

55

1532500

2032500

16364

5562

10802

891000

474556

161298

313258

Year

Age

Normal

Accident

2011

27

522500

2012

28

545000

2013

29

2014
2015

* The above projection is based on assumptions enumerated on the page titled "Benefits during the Retirement Period".

Harish Chand
LIFE INSURANCE CORPORATION OF INDIA
IRDA Authorised Insurance Advisor
PH. 09811896425, 09212201725
help@delhilicagent.com
www.delhiLICagent.com

MagicPlan - Retire And Enjoy - II

Quotation Ref.No.

: Pension234

Quotation Date

: 11/02/2011

Proposers Name

: Mr. Pankaj L

Proposers Age

: 27

Sum Proposed

: 500000

Yearly Premium

: 16364

Sec.80 CCE Invt. Lmt.

: 100000

Sec.80 CCE Tax Rebate

(nearer birthday)

: 33.99 %

Benefits during the Retirement Period

Returns From LIC
Risk Cover

Tax
Saved

Net
Premium

Desired
Income

12819

4357

8462

9419

3201

6218

1548000

6155

2092

1303500

3017

1025

1000000

Year

Age

Normal

Accident

Yearly
Premium

2040

56

1400000

1900000

2041

57

1248500

1748500

2042

58

1048000

2043

59

803500

2044

60

500000

Amount
Received

Used for
Prem. Pymt.

Net
Receivable

220000

306500

8462

298038

790500

220000

325000

6218

318782

670000

4063

220000

349500

4063

345437

528250

1992

220000

374000

1992

372008

361500

220000

403500

403500

167500

1758500

20735

1737765

31410

u Magic-Plan Retire & Enjoy is a combination of LIC plans specially researched to meet the objective of securing a financially

independent life for yourself and your spouse on retirement.

u The benefits shown in this presentation have been calculated on the basis of interim bonuses declared by LIC for the year

ended 31-Mar-2010 . Actual results may deviate depending on the future bonuses declared by LIC.
u Loan calculation is done on the basis of present surrender value rates.
u The Riskcover of Rs. 500,000.00 will continue till life time.
u The effective yield in the above proposal works out to 8.98 % (calculated as per IRR method).
u IRR does not consider the death benefit after age 60.

Loan
Available

Harish Chand
LIFE INSURANCE CORPORATION OF INDIA
IRDA Authorised Insurance Advisor
PH. 09811896425, 09212201725
help@delhilicagent.com
www.delhiLICagent.com

MagicPlan - Retire And Enjoy - II

Quotation Ref.No.

: Pension234

Quotation Date

: 11/02/2011

Proposers Name

: Mr. Pankaj L

Proposers Age

: 27

Sum Proposed

: 500000

(ANB)

Benefits After Retirement Age

Risk Cover
Year

Age

Normal

Accident

Cash Value

Loan Available

2045

61

500000

1000000

194400

175000

2046

62

500000

1000000

202000

181250

2047

63

500000

1000000

209700

188750

2048

64

500000

1000000

217450

196250

2049

65

500000

1000000

225250

202500

2050

66

500000

1000000

233100

210000

2051

67

500000

1000000

240900

216250

2052

68

500000

1000000

248700

223750

2053

69

500000

1000000

256500

231250

2054

70

500000

500000

264250

237500

2055

71

500000

500000

271950

245000

2056

72

500000

500000

279600

251250

2057

73

500000

500000

287150

258750

2058

74

500000

500000

294600

265000

2059

75

500000

500000

301900

271250

2060

76

500000

500000

309100

278750

2061

77

500000

500000

316200

285000

2062

78

500000

500000

323100

291250

2063

79

500000

500000

329900

297500

2064

80

500000

500000

336500

302500

2065

81

500000

500000

342900

308750

2066

82

500000

500000

349150

313750

2067

83

500000

500000

355200

320000

2068

84

500000

500000

361050

325000

2069

85

500000

500000

366750

330000

2070

86

500000

500000

372200

335000

2071

87

500000

500000

377500

340000

2072

88

500000

500000

382600

343750

2073

89

500000

500000

387700

348750

2074

90

500000

500000

392600

353750

2075

91

500000

500000

397600

357500

2076

92

500000

500000

402550

362500

2077

93

500000

500000

407650

367500

2078

94

500000

500000

414150

372500

2079

95

500000

500000

419850

377500

2080

96

500000

500000

430650

387500

2081

97

500000

500000

441200

397500

2082

98

500000

500000

465500

418750

2083

99

500000

500000

482750

435000

2084

100

500000

500000

Harish Chand
LIFE INSURANCE CORPORATION OF INDIA
IRDA Authorised Insurance Advisor
PH. 09811896425, 09212201725
help@delhilicagent.com
www.delhiLICagent.com

MagicPlan - Retire And Enjoy - II

Quotation Ref.No.

: Pension234

Quotation Date

: 11/02/2011

Proposers Name

: Mr. Pankaj L

Proposers DOB

: 11/02/1984

Sum Proposed

: 500000

Yearly Premium

: 16364

Sec.80 CCE Invt. Lmt.

: 100000

Sec.80 CCE Tax Rebate

Age : 27 (ANB)

: 33.99 %

Agent's Copy
PREMIUM

Sr.
No.

Plan/Tm/PPT

Sum

DAB
Sum

Interim
Bonus
Rate

* Bonus
Rate

#Assu
Step
Rate

FAB

SSS

Mly.

Qly.

Hly.

Yly.

149/29/29

100000

100000

45

45

0.00

760

305

320

914

1800

3545

149/30/30

100000

100000

45

45

0.00

900

292

307

876

1726

3400

149/31/31

100000

100000

45

45

0.00

1100

280

294

841

1657

3264

149/32/32

100000

100000

45

45

0.00

1300

270

283

809

1593

3138

149/33/33

100000

100000

45

45

0.00

1550

259

272

777

1532

3017

500000

500000

1406

1476

4217

8308

16364

1. '*' : - Assuming LIC will declare the above mentioned bonus rates for the year ended 31-Mar-2011.
2. '#' : - Assuming that bonus rate declared by LIC will increase/decrease per year by step rate mentioned above.