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    Jeevan Anand: G. Sudhakar Dev - Officer

    Uploaded by

    Yugendra Babu K
    This document provides an illustration and summary of the Jeevan Anand insurance plan from Life Insurance Corporation of India (LIC) for Mr. K Giribabu aged 31. The plan combines benefits of an endowment policy and whole life policy. It requires premium payments for 21 years, after which the sum assured of Rs. 500,000 along with bonuses will become payable, free of income tax. Additionally, life coverage of Rs. 500,000 continues for the lifetime of the insured without further premium payments. The plan offers a maximum risk cover of Rs. 1,564,500 and projected annual tax savings of Rs. 8,086 over the premium period.

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    Jeevan Anand: G. Sudhakar Dev - Officer

    Uploaded by

    Yugendra Babu K
    32 views4 pages
    This document provides an illustration and summary of the Jeevan Anand insurance plan from Life Insurance Corporation of India (LIC) for Mr. K Giribabu aged 31. The plan combines benefits of an endowment policy and whole life policy. It requires premium payments for 21 years, after which the sum assured of Rs. 500,000 along with bonuses will become payable, free of income tax. Additionally, life coverage of Rs. 500,000 continues for the lifetime of the insured without further premium payments. The plan offers a maximum risk cover of Rs. 1,564,500 and projected annual tax savings of Rs. 8,086 over the premium period.

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    LIC

    Original Title

    k Giribabu 21

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    This document provides an illustration and summary of the Jeevan Anand insurance plan from Life Insurance Corporation of India (LIC) for Mr. K Giribabu aged 31. The plan combines benefits of an endowment policy and whole life policy. It requires premium payments for 21 years, after which the sum assured of Rs. 500,000 along with bonuses will become payable, free of income tax. Additionally, life coverage of Rs. 500,000 continues for the lifetime of the insured without further premium payments. The plan offers a maximum risk cover of Rs. 1,564,500 and projected annual tax savings of Rs. 8,086 over the premium period.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    32 views4 pages

    Jeevan Anand: G. Sudhakar Dev - Officer

    Uploaded by

    Yugendra Babu K
    This document provides an illustration and summary of the Jeevan Anand insurance plan from Life Insurance Corporation of India (LIC) for Mr. K Giribabu aged 31. The plan combines benefits of an endowment policy and whole life policy. It requires premium payments for 21 years, after which the sum assured of Rs. 500,000 along with bonuses will become payable, free of income tax. Additionally, life coverage of Rs. 500,000 continues for the lifetime of the insured without further premium payments. The plan offers a maximum risk cover of Rs. 1,564,500 and projected annual tax savings of Rs. 8,086 over the premium period.

    Copyright:

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    Download as PDF, TXT or read online from Scribd
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    of 4

    G. SUDHAKAR DEV.

    OFFICER
    Sample Report For Demonstration Purpose Only
    LIC OF INDIA, Gandhi Road
    Chittoor
    Cell: 9441985800
    e-mail. gsudhakar.lic@gmail.com

    Jeevan Anand
    . . . . a life free of worries

    07/09/2013
    Illustration specially customized for Mr. K Giribabu Aged 31 Years.

    Jeevan Anand is an innovative insurance product from Life Insurance Corporation of India,
    which combines the benefits of an Endowment Policy and a Whole Life Policy.
    Under this plan you pay premiums for a limited period. During the premium paying period
    you are covered to the extent of the sum assured and the bonuses that vest on this
    policy. After the premium term is over the sum assured together with accumulated
    bonuses and final additional bonus (if any) become payable to you free of any income tax.
    The highlight of this plan is that even after the maturity of the policy the coverage on your
    life continues for your lifetime to the extent of the sum assured without the payment of
    any further premiums.

    General Terms of this Plan


    Minimum Age At Entry

    18 years completed

    Maximum Age At Entry

    65 years (Age Nearer Birthday)

    Maximum Premium
    Ceasing Age

    75 years (Age Nearer Birthday)

    Premium Paying Term

    5 years to 57 years

    Minimum Sum Assured

    Rs. 1,00,000

    Maximum Sum Assured

    No Limit

    Double Accident
    Benefit

    Exclusively available upto Rs.5,00,000 during the Premium


    paying term and thereafter upto age 70. No additional
    premium is required to be paid

    Loans

    Available after payment of 3 full years premiums

    G. SUDHAKAR DEV.OFFICER
    Sample Report For Demonstration Purpose Only
    LIC OF INDIA, Gandhi Road
    Chittoor
    Cell: 9441985800
    e-mail. gsudhakar.lic@gmail.com

    A Proposal Jeevan Anand for you


    Sum Proposed

    : Rs.500000

    Premium Payable For

    : 21 Years

    Premium Payable

    : Yearly

    Basic Premium

    : Rs.26167

    Rider Premiums

    : Rs.0

    Total Premium

    Assumed Bonus Rate

    *
    : 49

    Step Rate

    : Rs. 26167
    #
    :0

    Interim Bonus Rate


    Sec.80 CCE Inv. Limit

    : 47

    : Rs.100000

    Sec.80 CCE Tax Rebate

    : 30.90%

    Insurance Facts
    Risk Cover
    Year

    Age

    Normal

    Accident

    Annual
    Premium

    Tax
    Saved

    Nett
    Premium

    Returns
    From L.I.C.

    New Loan
    Available

    Total Loan
    Available
    0

    2013

    31

    523500

    1023500

    26167

    8086

    18081

    2014

    32

    549000

    1049000

    26167

    8086

    18081

    2015

    33

    573500

    1073500

    26167

    8086

    18081

    19500

    19500

    2016

    34

    598000

    1098000

    26167

    8086

    18081

    19750

    39250

    2017

    35

    622500

    1122500

    26167

    8086

    18081

    16750

    56000

    2018

    36

    647000

    1147000

    26167

    8086

    18081

    19250

    75250

    2019

    37

    671500

    1171500

    26167

    8086

    18081

    21500

    96750

    2020

    38

    696000

    1196000

    26167

    8086

    18081

    24750

    121500

    2021

    39

    720500

    1220500

    26167

    8086

    18081

    27750

    149250

    2022

    40

    745000

    1245000

    26167

    8086

    18081

    31250

    180500

    2023

    41

    769500

    1269500

    26167

    8086

    18081

    35500

    216000

    2024

    42

    794000

    1294000

    26167

    8086

    18081

    39750

    255750

    2025

    43

    818500

    1318500

    26167

    8086

    18081

    40500

    296250

    2026

    44

    843000

    1343000

    26167

    8086

    18081

    45750

    342000

    2027

    45

    877500

    1377500

    26167

    8086

    18081

    51500

    393500

    2028

    46

    904500

    1404500

    26167

    8086

    18081

    58500

    452000

    2029

    47

    931500

    1431500

    26167

    8086

    18081

    66750

    518750

    2030

    48

    958500

    1458500

    26167

    8086

    18081

    80250

    599000

    2031

    49

    990500

    1490500

    26167

    8086

    18081

    90250

    689250

    2032

    50

    1025000

    1525000

    26167

    8086

    18081

    102000

    791250

    2033

    51

    1064500

    1564500

    26167

    8086

    18081

    114750

    906000

    2034

    52

    500000

    1000000

    1064500

    117750

    117750

    2035

    53

    500000

    1000000

    4750

    122500

    2036

    54

    500000

    1000000

    7000

    129500

    2037

    55

    500000

    1000000

    6250

    135750

    2038

    56

    500000

    1000000

    6250

    142000

    2039

    57

    500000

    1000000

    6250

    148250

    2040

    58

    500000

    1000000

    6500

    154750

    2041

    59

    500000

    1000000

    6750

    161500

    2042

    60

    500000

    1000000

    6500

    168000

    2043

    61

    500000

    1000000

    7000

    175000

    2044

    62

    500000

    1000000

    6750

    181750

    2045

    63

    500000

    1000000

    7000

    188750

    2046

    64

    500000

    1000000

    7000

    195750

    2047

    65

    500000

    1000000

    7000

    202750

    2048

    66

    500000

    1000000

    7000

    209750

    2049

    67

    500000

    1000000

    7000

    216750

    2050

    68

    500000

    1000000

    7000

    223750

    2051

    69

    500000

    1000000

    7000

    230750

    2052

    70

    500000

    500000

    7000

    237750

    2053

    71

    500000

    500000

    7000

    244750

    2054

    72

    500000

    500000

    7000

    251750

    2055

    73

    500000

    500000

    6750

    258500

    2056

    74

    500000

    500000

    6750

    265250

    2057

    75

    500000

    500000

    6500

    271750

    2058

    76

    500000

    500000

    6500

    278250

    2059

    77

    500000

    500000

    6250

    284500

    2060

    78

    500000

    500000

    6250

    290750

    2061

    79

    500000

    500000

    6250

    297000

    2062

    80

    500000

    500000

    5750

    302750

    2063

    81

    500000

    500000

    5750

    308500

    2064

    82

    500000

    500000

    5750

    314250

    2065

    83

    500000

    500000

    5500

    319750

    2066

    84

    500000

    500000

    5250

    325000

    2067

    85

    500000

    500000

    5000

    330000

    2068

    86

    500000

    500000

    5000

    335000

    2069

    87

    500000

    500000

    4750

    339750

    2070

    88

    500000

    500000

    4500

    344250

    2071

    89

    500000

    500000

    4750

    349000

    2072

    90

    500000

    500000

    4250

    353250

    2073

    91

    500000

    500000

    4500

    357750

    2074

    92

    500000

    500000

    4500

    362250

    2075

    93

    500000

    500000

    4750

    367000

    2076

    94

    500000

    500000

    5750

    372750

    2077

    95

    500000

    500000

    5000

    377750

    2078

    96

    500000

    500000

    9750

    387500

    2079

    97

    500000

    500000

    9500

    397000

    2080

    98

    500000

    500000

    22000

    419000

    2081

    99

    500000

    500000

    15500

    434500

    2082

    100

    500000

    500000

    549507

    169806

    379701

    1064500

    G. SUDHAKAR DEV.OFFICER
    Sample Report For Demonstration Purpose Only
    LIC OF INDIA, Gandhi Road
    Chittoor
    Cell: 9441985800
    e-mail. gsudhakar.lic@gmail.com

    Benefits Summary*
    Minimum Risk Cover (Normal)

    Rs. 523500

    Minimum Risk Cover (Accidental)

    Rs. 1023500

    Maximum Risk Cover (Normal)

    Rs. 1064500

    Maximum Risk Cover (Accidental)

    Rs. 1564500

    Annual Tax Savings (Sec. 80 CCE)

    Rs. 8086

    Total Premium to be paid

    Rs. 549507

    Maturity Amount in 2034

    Rs. 1064500

    Yield on Investment

    8.61%

    Free Risk Cover from 2034


    onwards for Lifetime

    Rs. 500000

    Free additional accidental cover


    from 2034 to 2052 ,when you
    reach age of 70 yrs

    Rs. 500000

    1. '*' : - Assuming that LIC will declare the above mentioned bonus rates for the year ended 31-Mar-2013
    2. '#' : - Assuming that bonus rate declared by LIC will increase/decrease per year by step rate mentioned above.

    The above statement is based on certain assumptions which are


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

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