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rad29CEA

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Harish Chand
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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

Descrição:

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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15 visualizações

rad29CEA

Enviado por

Harish Chand

Descrição:

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

Direitos autorais:

Attribution Non-Commercial (BY-NC)
Baixe no formato PDF, TXT ou leia online no Scribd
Sinalizar por conteúdo inapropriado

Títulos relacionados

de 3

Harish Chand

LIFE INSURANCE CORPORATION OF INDIA


IRDA Authorised Insurance Advisor
PH. 09811896425, 09212201725
help@delhilicagent.com
www.delhiLICagent.com

Multi - Plan Chart


Date : 16/05/2011

Wonder-Plan Quotation
Quotation No

: Kdkd

Chart Date

: 16/05/2011

Name

: Rahul

Chart required upto

: 16/05/2036

Date of Birth

: 16/05/1987

I. T. Slab

: 33.99%

Sec.80 CCE Inv. Limit

: 24

: 9.00%

Loan Interest Rate

Sr.
No

Age

: 100000

Sum

M
d

Jeevan Surabhi - 25 Yrs

1000000

Total :

1000000

Year

Plan/Tm/
Prem. Tm

Plan Name

2011

108/25/18

Interim
Bonus
Rate

50

Loan Re-Investment Rate

: 0.00%

Maturity/S.B. proceeds Re-invt. Rate

: 0.00%

Sec.80 CCE Tax Rebate

: 33.99%

Assu
Bonus
Rate

50

Assu
Step
Rate A/c

Basic
Premium

0.00

Installment
Premium

75842

76842

75842

76842

Annual
Premium

Mat
Date

76842

16/05/36

76842 p.a.

Rider Details
Sr.
No

Plan/Tm/
Prem. Tm

Rider Name

Year

2011

108/25/18

Double Accident Benefit


Total :

Rider
Sum

Rider
Term

Prem.
Term

Installment
Premium

Annual
Premium

Total
Premium Pd.

1000000

18

18

1000

1000

18000

1000

1000

18000

1000000

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.
3. ** If premiums paid during the year for any policy exceeds 20% of Sum Assured then Maturity proceeds will be taxable and
eligible amount for section 80 CCE rebate will be restricted to 20% of Sum Assured.

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
IRDA Authorised Insurance Advisor
PH. 09811896425, 09212201725
help@delhilicagent.com
www.delhiLICagent.com

Multi - Plan Chart

Insurance Facts
Quotation No

: Kdkd

Chart Date

16/05/2011

Name

: Rahul

Chart required upto

16/05/2036

Date of Birth

: 16/05/1987

I. T. Slab

33.99%

Age

Risk Cover

: 24

Year

Age

Normal

Accident

Annual
Premium

Tax
Saved

Net
Premium

Returns
From L.I.C.

New Loan
Available

Total Loan
Available

2011

24

1050000

2050000

76842

26119

50723

2012

25

1100000

2100000

76842

26119

50723

2013

26

1150000

2150000

76842

26119

50723

49750

49750

2014

27

1200000

2200000

76842

26119

50723

39500

89250

2015

28

1250000

2250000

76842

26119

50723

200000

49250

49250

2016

29

1800000

2800000

76842

26119

50723

33250

82500

2017

30

1850000

2850000

76842

26119

50723

39500

122000

2018

31

1900000

2900000

76842

26119

50723

44750

166750

2019

32

1950000

2950000

76842

26119

50723

200000

115250

115250

2020

33

2000000

3000000

76842

26119

50723

50000

165250

2021

34

2550000

3550000

76842

26119

50723

57000

222250

2022

35

2600000

3600000

76842

26119

50723

64750

287000

2023

36

2650000

3650000

76842

26119

50723

200000

139250

226250

2024

37

2700000

3700000

76842

26119

50723

76250

302500

2025

38

2780000

3780000

76842

26119

50723

82500

385000

2026

39

3330000

4330000

76842

26119

50723

200000

160750

345750

2027

40

3380000

4380000

76842

26119

50723

93000

438750

2028

41

3430000

4430000

76842

26119

50723

99500

538250

2029

42

3480000

3480000

200000

118000

456250

2030

43

3600000

3600000

58000

514250

2031

44

4050000

4050000

66250

580500

2032

45

4100000

4100000

80750

661250

2033

46

4150000

4150000

90750

752000

2034

47

4200000

4200000

102500

854500

2035

48

4250000

4250000

158250

1012750

2036

49

0
Total :

1250000

1383156

470142

913014

2250000

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
IRDA Authorised Insurance Advisor
PH. 09811896425, 09212201725
help@delhilicagent.com
www.delhiLICagent.com

Multi - Plan Chart

Summary of Proposed Insurance


Quotation No

: Kdkd

Chart Date

: 16/05/2011

Name

: Rahul

Chart required upto

: 16/05/2036

Date of Birth

: 16/05/1987

I. T. Slab

: 33.99%

Age

: 24

Maximum Risk Cover enjoyed (Normal)

Rs.

4250000

Maximum Risk Cover enjoyed (Accidental)

Rs.

4430000

Total Premium paid

Rs.

1383156

Rs.

470142

Net Premium paid

Rs.

913014

Proceeds from LIC by way of Maturity / Sur. Bens.

Rs.

2250000

Tax Payable

Rs.

Net after tax Payable

Rs.

2250000

Compounded Value of LIC proceeds @ 0.00 % by 2036

Rs.

2250000

Additional Gain through Loan re-cycling @ 0.00 %

Rs.

Rs.

2250000

Less : Tax saved on premium

Net in hand as on 2036

Yield on Investments 11.26 %


Assumptions
--> Premium payments will save tax.
--> Returns will not be Re-invested in Section 80 CCE schemes.
--> Gains on Returns Re-investments will not be taxed.
--> Gains on Loans Re-investments will not be taxed.

The above statement is based on certain assumptions which are


liable to change according to Government/Corporation's policies.

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