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  • Rad A 7

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    Harish Chand
    20 vues2 pages
    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

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
    Téléchargez comme PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    20 vues2 pages

    Rad A 7

    Transféré par

    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

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
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    Harish Chand

    LIFE INSURANCE CORPORATION OF INDIA


    Delhi LIC Agent PH. 09811896425, 09212201725 help@delhilicagent.com www.delhiLICagent.com

    Jeevan Nidhi Plan Presentation


    Name Sum Mode : Mr. Ajit : 200000 : Yearly : 0 100000 : 32 Age : 29 Term : 11 Date : 28/01/2011 Premium Term : 11 Basic Premium : 19802 Total Annual Premium : 19802 Income Tax Slab : 30.60 Assumed FAB Rate : 0

    Total Rider Premium Sec. 80CCE Inv. Limit: Assumed Bonus Rate

    Benefits During The Deferment Period


    Risk Cover Year
    2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

    Age
    29 30 31 32 33 34 35 36 37 38 39

    Normal
    210000 220000 230000 240000 250000 256400 262800 269200 275600 282000 288400

    Accident
    210000 220000 230000 240000 250000 256400 262800 269200 275600 282000 288400

    Annual Premium
    19802 19802 19802 19802 19802 19802 19802 19802 19802 19802 19802 217822

    Tax Saved
    6059 6059 6059 6059 6059 6059 6059 6059 6059 6059 6059 66649

    Nett Premium
    13743 13743 13743 13743 13743 13743 13743 13743 13743 13743 13743 151173

    Cash Value
    0 0 38485 54661 76365 88486 110020 135865 165500 199370 260004

    In the year 2022, the deferment period will end and the policy will be due for annuity (pension) payment. In this year, the Notional Cash Option (NCO) value on which your pension will be calculated is estimated to be Rs. 288400 (based on assumed Bonus and Final Bonus Rate). You have an option to commute 1/3rd of this amount in lumpsum (taxfree) and make the rest available for purchasing annuity either from LIC or any other insurer. Alternately, you may use the entire amount for purchasing the annuity. The tables below illustrate the amount of pension you can get from LIC's Jeevan Nidhi Plan currently under various pension options available

    Pension Amount Available With Commutation P e A 1192 3624 7316 15016 n s i o B 1190 3619 7306 14997 n O p C 1187 3610 7287 14958 t i o D 1182 3595 7258 14881 n s A E 1178 3581 7229 14824 v a i l F 1102 3355 6777 13901 a b l e G 907 2754 5547 11363 H 1162 3533 7133 14631

    Pension Mode Monthly Quarterly Half Yearly Yearly

    The above statement is based on certain assumptions which are liable to change according to Government/Corporation's policies.

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

    Jeevan Nidhi Plan Presentation


    Pension Amount Available Without Commutation P e A 1843 5604 11313 23221 n s i o B 1841 5597 11298 23191 n O p C 1836 5582 11268 23131 t i o D 1829 5560 11224 23013 n s A E 1821 5538 11179 22923 v a i l F 1705 5188 10481 21496 a b l e G 1402 4259 8578 17572 H 1796 5463 11031 22626

    Pension Mode Monthly Quarterly Half Yearly Yearly

    Note : Pension will start after the completion of the pension mode opted. For example : If the pension mode is Half Yearly then the pension will start after the end of six months from the date of purchase of the policy

    OPTION DESCRIPTION
    A . Immediate Annuity per annum payable for the remainder of life B. C. D. E.
    F.
    Immediate Annuity per annum payable for 5 years certain so long thereafter as the annuitant may be alive

    Immediate annuity per annum payable for 10 years certain and so long thereafter as the annuitant may be alive Immediate Annuity per annum payable for 15 years certain and so long thereafter as the annuitant may be alive Immediate Annuity per annum payable for 20 years certain and so long thereafter as the annuitant may be alive Immediate Annuity per annum payable for life with return of purchase price on death of the annuitant Immediate Annuity increasing at 3% per annum (simple) payable for life Immediate Annuity for life with a provision for 50 % of the annuity to the spouse on death of the annuitant.

    G.
    H.

    The above statement is based on certain assumptions which are liable to change according to Government/Corporation's policies.

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