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  • Mr. Pankaj L: Insurance Proposal For

    Загружено:

    Harish Chand
    31 просмотров6 страниц
    Why Insurance Almost each one of us has bought or plans to buy life insurance. The usual process is contact an insurance agent who helps you estimate the policy value and goes ahead and buys the policy on your behalf. So you feel good that you now have a life policy showing how much you worth! Take a step back before you buy that policy. Have you ever considered buying more then one policy value you desire? There are some great gains in doing so. These are.... During Financial lows If you go through a situation where you are financially constrained to surrender your life policy, you will lose the cover for the entire policy even if you do not need the entire surrender value of the policy. For instance if your policy's surrender value is Rs 10 Lakh and you need Rs 4 Lakh cash, you will have to cancel the entire policy and lose life over completely. had this policy of Rs 10 lakh been taken as 2 policies of Rs 5 lakh each, you could have surrendered just one policy. You would still remain covered for Rs 5 lakh! Distributing your estate Breaking up your life policy help in this count too. Taking the same example, instead of having one Rs 10 lakh policy, having 2 Rs 5 Lakh policies helps allocate your estate among your children ( this is an ideal situiation if you have 2 children - each child gets proceeds from one policy). Taking a loan You can use your life policy as a pledgeable security while taking a loan. Lenders as well as the insurer usually offers loans up to a specified percentage of the surrender value of the policy. If you dont need a loan to the extent of the amount you are eligible for, you will still have to offer the entire policy as security to the lender till the repayment of the loan. During the period the policy remains with the lender, he is eligible for all the rights to the policy. However if you break up your policies, you need to pledge only just that many policies to raise the necessary loan. Tax Benefits Section 88 of the Income Tax Act states that premium paid on a life policy is eligible for tax rebate. The beneficiary may be different from the premium paying person. For instance your wife can pay premium for your policy and claim the tax benefit. Breaking up for life policy helps in this case too. If the premium paid on a consolidated policy is higher than the amount of rebate you need, you can break the policy to claim the entire tax rebate. This can be done by another tax paying family member paying the premium for one policy and claiming the rebate. Meeting your life goals You can divide your life insurance portfolio into a number of policies spread over different tenors to give you a stream of steady income to take care of your life's financial commitments like children's education and marriage, buying property, asving up for your old age etc. Check out specific plans structured by insurers specifically for these purposes. What if you have already taken a consolidated life policy? Dont despair. You can break it to peices! contact your insurance agent to guide you to doing so. By paying a small sum to the insurer, your policy can be broken up into more than one, without any loss to you. It is worth the efforts. Contact Us Harish Chand [Authorised LIC Agent] 9811896425 9212201725 www.delhilicagent.com harishchand@in.com

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    Why Insurance Almost each one of us has bought or plans to buy life insurance. The usual process is contact an insurance agent who helps you estimate the policy value and goes ahead and buys the policy on your behalf. So you feel good that you now have a life policy showing how much you worth! Take a step back before you buy that policy. Have you ever considered buying more then one policy value you desire? There are some great gains in doing so. These are.... During Financial lows If you go through a situation where you are financially constrained to surrender your life policy, you will lose the cover for the entire policy even if you do not need the entire surrender value of the policy. For instance if your policy's surrender value is Rs 10 Lakh and you need Rs 4 Lakh cash, you will have to cancel the entire policy and lose life over completely. had this policy of Rs 10 lakh been taken as 2 policies of Rs 5 lakh each, you could have surrendered just one policy. You would still remain covered for Rs 5 lakh! Distributing your estate Breaking up your life policy help in this count too. Taking the same example, instead of having one Rs 10 lakh policy, having 2 Rs 5 Lakh policies helps allocate your estate among your children ( this is an ideal situiation if you have 2 children - each child gets proceeds from one policy). Taking a loan You can use your life policy as a pledgeable security while taking a loan. Lenders as well as the insurer usually offers loans up to a specified percentage of the surrender value of the policy. If you dont need a loan to the extent of the amount you are eligible for, you will still have to offer the entire policy as security to the lender till the repayment of the loan. During the period the policy remains with the lender, he is eligible for all the rights to the policy. However if you break up your policies, you need to pledge only just that many policies to raise the necessary loan. Tax Benefits Section 88 of the Income Tax Act states that premium paid on a life policy is eligible for tax rebate. The beneficiary may be different from the premium paying person. For instance your wife can pay premium for your policy and claim the tax benefit. Breaking up for life policy helps in this case too. If the premium paid on a consolidated policy is higher than the amount of rebate you need, you can break the policy to claim the entire tax rebate. This can be done by another tax paying family member paying the premium for one policy and claiming the rebate. Meeting your life goals You can divide your life insurance portfolio into a number of policies spread over different tenors to give you a stream of steady income to take care of your life's financial commitments like children's education and marriage, buying property, asving up for your old age etc. Check out specific plans structured by insurers specifically for these purposes. What if you have already taken a consolidated life policy? Dont despair. You can break it to peices! contact your insurance agent to guide you to doing so. By paying a small sum to the insurer, your policy can be broken up into more than one, without any loss to you. It is worth the efforts. Contact Us Harish Chand [Authorised LIC Agent] 9811896425 9212201725 www.delhilicagent.com harishchand@in.com

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    Attribution Non-Commercial (BY-NC)
    Скачайте в формате PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    31 просмотров6 страниц

    Mr. Pankaj L: Insurance Proposal For

    Загружено:

    Harish Chand
    Why Insurance Almost each one of us has bought or plans to buy life insurance. The usual process is contact an insurance agent who helps you estimate the policy value and goes ahead and buys the policy on your behalf. So you feel good that you now have a life policy showing how much you worth! Take a step back before you buy that policy. Have you ever considered buying more then one policy value you desire? There are some great gains in doing so. These are.... During Financial lows If you go through a situation where you are financially constrained to surrender your life policy, you will lose the cover for the entire policy even if you do not need the entire surrender value of the policy. For instance if your policy's surrender value is Rs 10 Lakh and you need Rs 4 Lakh cash, you will have to cancel the entire policy and lose life over completely. had this policy of Rs 10 lakh been taken as 2 policies of Rs 5 lakh each, you could have surrendered just one policy. You would still remain covered for Rs 5 lakh! Distributing your estate Breaking up your life policy help in this count too. Taking the same example, instead of having one Rs 10 lakh policy, having 2 Rs 5 Lakh policies helps allocate your estate among your children ( this is an ideal situiation if you have 2 children - each child gets proceeds from one policy). Taking a loan You can use your life policy as a pledgeable security while taking a loan. Lenders as well as the insurer usually offers loans up to a specified percentage of the surrender value of the policy. If you dont need a loan to the extent of the amount you are eligible for, you will still have to offer the entire policy as security to the lender till the repayment of the loan. During the period the policy remains with the lender, he is eligible for all the rights to the policy. However if you break up your policies, you need to pledge only just that many policies to raise the necessary loan. Tax Benefits Section 88 of the Income Tax Act states that premium paid on a life policy is eligible for tax rebate. The beneficiary may be different from the premium paying person. For instance your wife can pay premium for your policy and claim the tax benefit. Breaking up for life policy helps in this case too. If the premium paid on a consolidated policy is higher than the amount of rebate you need, you can break the policy to claim the entire tax rebate. This can be done by another tax paying family member paying the premium for one policy and claiming the rebate. Meeting your life goals You can divide your life insurance portfolio into a number of policies spread over different tenors to give you a stream of steady income to take care of your life's financial commitments like children's education and marriage, buying property, asving up for your old age etc. Check out specific plans structured by insurers specifically for these purposes. What if you have already taken a consolidated life policy? Dont despair. You can break it to peices! contact your insurance agent to guide you to doing so. By paying a small sum to the insurer, your policy can be broken up into more than one, without any loss to you. It is worth the efforts. Contact Us Harish Chand [Authorised LIC Agent] 9811896425 9212201725 www.delhilicagent.com harishchand@in.com

    Авторское право:

    Attribution Non-Commercial (BY-NC)
    Скачайте в формате PDF, TXT или читайте онлайн в Scribd
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    из 6

    Insurance Proposal for

    Mr. Pankaj L
    for Annual Income of Rs. 180000/from age 56 to 65

    Presented by
    Harish Chand
    LIFE INSURANCE CORPORATION OF INDIA
    Delhi LIC Agent
    PH. 09811896425, 09212201725
    help@delhilicagent.com
    www.delhiLICagent.com

    Presented by
    Harish Chand
    LIFE INSURANCE CORPORATION OF INDIA
    Delhi LIC Agent
    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.30869/- p.a. from your own
    funds till your age of 55 years. This proposal provides for
    a high riskcover of Rs.1045000/- starting at age 28 and
    growing to Rs.2910000/- at age 56.

    In the year 2039 when you will be 56 years of age, you


    will start receiving annual tax free income every year till
    65 years of your age. Income starts at Rs. 273020 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 9.03 % (calculated as per IRR method).

    Harish Chand
    LIFE INSURANCE CORPORATION OF INDIA
    Delhi LIC Agent
    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

    : 28

    Sum Proposed

    : 1000000

    Yearly Premium

    : 30869

    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

    1545000

    30869

    10493

    20376

    1590000

    30869

    10493

    20376

    1135000

    1635000

    30869

    10493

    20376

    13500

    31

    1180000

    1680000

    30869

    10493

    20376

    34750

    32

    1225000

    1725000

    30869

    10493

    20376

    48000

    2016

    33

    1270000

    1770000

    30869

    10493

    20376

    63500

    2017

    34

    1315000

    1815000

    30869

    10493

    20376

    80250

    2018

    35

    1360000

    1860000

    30869

    10493

    20376

    100000

    2019

    36

    1405000

    1905000

    30869

    10493

    20376

    121250

    2020

    37

    1450000

    1950000

    30869

    10493

    20376

    145750

    2021

    38

    1495000

    1995000

    30869

    10493

    20376

    172500

    2022

    39

    1540000

    2040000

    30869

    10493

    20376

    202750

    2023

    40

    1585000

    2085000

    30869

    10493

    20376

    236750

    2024

    41

    1630000

    2130000

    30869

    10493

    20376

    274250

    2025

    42

    1685000

    2185000

    30869

    10493

    20376

    316500

    2026

    43

    1735000

    2235000

    30869

    10493

    20376

    362500

    2027

    44

    1785000

    2285000

    30869

    10493

    20376

    414000

    2028

    45

    1835000

    2335000

    30869

    10493

    20376

    469500

    2029

    46

    1885000

    2385000

    30869

    10493

    20376

    533000

    2030

    47

    1940000

    2440000

    30869

    10493

    20376

    601750

    2031

    48

    1995000

    2495000

    30869

    10493

    20376

    675750

    2032

    49

    2070000

    2570000

    30869

    10493

    20376

    756750

    2033

    50

    2185000

    2685000

    30869

    10493

    20376

    845500

    2034

    51

    2310000

    2810000

    30869

    10493

    20376

    943750

    2035

    52

    2455000

    2955000

    30869

    10493

    20376

    1051750

    Year

    Age

    Normal

    Accident

    2011

    28

    1045000

    2012

    29

    1090000

    2013

    30

    2014
    2015

    2036

    53

    2600000

    3100000

    30869

    10493

    20376

    1173250

    2037

    54

    2755000

    3255000

    30869

    10493

    20376

    1308250

    2038

    55

    2910000

    3410000

    30869

    10493

    20376

    1460750

    864332

    293804

    570528

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

    Harish Chand
    LIFE INSURANCE CORPORATION OF INDIA
    Delhi LIC Agent
    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

    : 28

    Sum Proposed

    : 1000000

    Yearly Premium

    : 30869

    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
    Year

    Age

    Normal

    Accident

    Yearly
    Premium

    Tax
    Saved

    Net
    Premium

    Desired
    Income

    Amount
    Received

    Used for
    Prem. Pymt.

    Net
    Receivable

    Loan
    Available

    2039

    56

    2858500

    3358500

    27239

    9259

    17980

    180000

    291000

    17980

    273020

    1422250

    2040

    57

    2800000

    3300000

    23769

    8080

    15689

    180000

    306500

    15689

    290811

    1374250

    2041

    58

    2746500

    3246500

    20445

    6950

    13495

    180000

    325000

    13495

    311505

    1314250

    2042

    59

    2644000

    3144000

    17257

    5866

    11391

    180000

    349500

    11391

    338109

    1241000

    2043

    60

    2517500

    3017500

    14195

    4825

    9370

    180000

    374000

    9370

    364630

    1152750

    2044

    61

    2292000

    2792000

    11149

    3790

    7359

    180000

    403500

    7359

    396141

    1049250

    2045

    62

    2027500

    2527500

    8215

    2793

    5422

    180000

    423000

    5422

    417578

    924250

    2046

    63

    1734000

    2234000

    5383

    1830

    3553

    180000

    442500

    3553

    438947

    778250

    2047

    64

    1391500

    1891500

    2648

    900

    1748

    180000

    467000

    1748

    465252

    607000

    2048

    65

    1000000

    1500000

    180000

    491500

    491500

    405000

    3873500

    86007

    3787493

    130300

    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. 1,000,000.00 will continue till life time.
    u The effective yield in the above proposal works out to 9.03 % (calculated as per IRR method).
    u IRR does not consider the death benefit after age 65.

    Harish Chand
    LIFE INSURANCE CORPORATION OF INDIA
    Delhi LIC Agent
    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

    : 28

    Sum Proposed

    : 1000000

    (ANB)

    Benefits After Retirement Age


    Risk Cover
    Year

    Age

    Normal

    Accident

    Cash Value

    Loan Available

    2049

    66

    1000000

    1500000

    466200

    420000

    2050

    67

    1000000

    1500000

    481800

    432500

    2051

    68

    1000000

    1500000

    497400

    447500

    2052

    69

    1000000

    1500000

    513000

    462500

    2053

    70

    1000000

    1000000

    528500

    475000

    2054

    71

    1000000

    1000000

    543900

    490000

    2055

    72

    1000000

    1000000

    559200

    502500

    2056

    73

    1000000

    1000000

    574300

    517500

    2057

    74

    1000000

    1000000

    589200

    530000

    2058

    75

    1000000

    1000000

    603800

    542500

    2059

    76

    1000000

    1000000

    618200

    557500

    2060

    77

    1000000

    1000000

    632400

    570000

    2061

    78

    1000000

    1000000

    646200

    582500

    2062

    79

    1000000

    1000000

    659800

    595000

    2063

    80

    1000000

    1000000

    673000

    605000

    2064

    81

    1000000

    1000000

    685800

    617500

    2065

    82

    1000000

    1000000

    698300

    627500

    2066

    83

    1000000

    1000000

    710400

    640000

    2067

    84

    1000000

    1000000

    722100

    650000

    2068

    85

    1000000

    1000000

    733500

    660000

    2069

    86

    1000000

    1000000

    744400

    670000

    2070

    87

    1000000

    1000000

    755000

    680000

    2071

    88

    1000000

    1000000

    765200

    687500

    2072

    89

    1000000

    1000000

    775400

    697500

    2073

    90

    1000000

    1000000

    785200

    707500

    2074

    91

    1000000

    1000000

    795200

    715000

    2075

    92

    1000000

    1000000

    805100

    725000

    2076

    93

    1000000

    1000000

    815300

    735000

    2077

    94

    1000000

    1000000

    828300

    745000

    2078

    95

    1000000

    1000000

    839700

    755000

    2079

    96

    1000000

    1000000

    861300

    775000

    2080

    97

    1000000

    1000000

    882400

    795000

    2081

    98

    1000000

    1000000

    931000

    837500

    2082

    99

    1000000

    1000000

    965500

    870000

    2083

    100

    1000000

    1000000

    Harish Chand
    LIFE INSURANCE CORPORATION OF INDIA
    Delhi LIC Agent
    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

    : 11/02/1983

    Sum Proposed

    : 1000000

    Yearly Premium

    : 30869

    Sec.80 CCE Invt. Lmt.

    : 100000

    Sec.80 CCE Tax Rebate

    Age : 28 (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.

    149/28/28

    100000

    45

    45

    0.00

    650

    312

    328

    936

    1844

    3630

    149/29/29

    100000

    45

    45

    0.00

    760

    298

    314

    895

    1762

    3470

    149/30/30

    100000

    45

    45

    0.00

    900

    286

    301

    857

    1689

    3324

    149/31/31

    100000

    45

    45

    0.00

    1100

    274

    288

    822

    1620

    3188

    149/32/32

    100000

    45

    45

    0.00

    1300

    263

    277

    790

    1556

    3062

    149/33/33

    100000

    100000

    45

    45

    0.00

    1550

    262

    275

    785

    1546

    3046

    149/34/34

    100000

    100000

    45

    45

    0.00

    1700

    252

    265

    756

    1490

    2934

    149/35/35

    100000

    100000

    45

    45

    0.00

    1850

    243

    255

    730

    1438

    2832

    149/36/36

    100000

    100000

    45

    45

    0.00

    2050

    235

    247

    705

    1389

    2735

    10

    149/37/37

    100000

    100000

    45

    45

    0.00

    2250

    227

    239

    682

    1345

    2648

    1000000

    500000

    2652

    2789

    7958

    15679

    30869

    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.

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