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    Rad 13830

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    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

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    Rad 13830

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    Harish Chand
    11 views2 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

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    11 views2 pages

    Rad 13830

    Uploaded by

    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

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    of 2

    Harish Chand

    LIFE INSURANCE CORPORATION OF INDIA


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

    Jeevan Nidhi Plan Presentation


    Name

    : Mr. Wanchoo

    Sum

    : 5000000

    Mode

    : Yearly

    Total Rider Premium


    Sec. 80CCE Inv. Limit:
    Assumed Bonus Rate

    Age : 24

    Date : 17/02/2011

    Term : 26

    Premium Term : 26
    Basic Premium : 179385

    : 5000

    Total Annual Premium : 184385

    100000

    Income Tax Slab : 30.60

    : 32

    Assumed FAB Rate : 0

    Benefits During The Deferment Period


    Risk Cover

    Annual
    Premium

    Nett
    Premium

    Cash Value

    30600

    153785

    184385

    30600

    153785

    10750000

    184385

    30600

    153785

    237456

    6000000

    11000000

    184385

    30600

    153785

    347346

    6250000

    11250000

    184385

    30600

    153785

    496839

    29

    6410000

    11410000

    184385

    30600

    153785

    537328

    2017

    30

    6570000

    11570000

    184385

    30600

    153785

    648039

    2018

    31

    6730000

    11730000

    184385

    30600

    153785

    770277

    2019

    32

    6890000

    11890000

    184385

    30600

    153785

    921949

    2020

    33

    7050000

    12050000

    184385

    30600

    153785

    1091684

    2021

    34

    7210000

    12210000

    184385

    30600

    153785

    1282105

    2022

    35

    7370000

    12370000

    184385

    30600

    153785

    1494904

    2023

    36

    7530000

    12530000

    184385

    30600

    153785

    1732746

    2024

    37

    7690000

    12690000

    184385

    30600

    153785

    1998055

    2025

    38

    7850000

    12850000

    184385

    30600

    153785

    2293397

    2026

    39

    8010000

    13010000

    184385

    30600

    153785

    2621478

    2027

    40

    8170000

    13170000

    184385

    30600

    153785

    2987030

    2028

    41

    8330000

    13330000

    184385

    30600

    153785

    3340306

    2029

    42

    8490000

    13490000

    184385

    30600

    153785

    3737056

    2030

    43

    8650000

    13650000

    184385

    30600

    153785

    4184542

    2031

    44

    8810000

    13810000

    184385

    30600

    153785

    4692268

    2032

    45

    8970000

    13970000

    184385

    30600

    153785

    5270724

    2033

    46

    9130000

    14130000

    184385

    30600

    153785

    5977550

    2034

    47

    9290000

    14290000

    184385

    30600

    153785

    6772426

    2035

    48

    9450000

    14450000

    184385

    30600

    153785

    7664806

    2036

    49

    9610000

    14610000

    184385

    30600

    153785

    9059715

    4794010

    795600

    3998410

    Year

    Age

    Normal

    2011

    24

    5250000

    10250000

    184385

    2012

    25

    5500000

    10500000

    2013

    26

    5750000

    2014

    27

    2015

    28

    2016

    Accident

    Tax
    Saved

    In the year 2037, 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. 9610000 (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

    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

    Jeevan Nidhi Plan Presentation


    Pension Amount Available With Commutation

    Pension

    Mode

    e
    G

    43672

    43512

    43192

    42764

    42284

    37799

    34382

    41750

    Quarterly

    132218

    131897

    130936

    129495

    128053

    114599

    104188

    126612

    Half Yearly

    267318

    266357

    264435

    261552

    258669

    231441

    209979

    255466

    Yearly

    547129

    545207

    540723

    534957

    528550

    474093

    427965

    522784

    Monthly

    Pension Amount Available Without Commutation

    Pension
    Mode
    Monthly

    e
    A

    o
    B

    n
    D

    a
    F

    e
    G

    67534

    67287

    66791

    66131

    65388

    58453

    53169

    64562

    Quarterly

    204460

    203965

    202479

    200250

    198020

    177215

    161116

    195791

    Half Yearly

    413379

    411893

    408920

    404462

    400004

    357898

    324709

    395050

    Yearly

    846076

    843104

    836169

    827253

    817345

    733134

    661802

    808429

    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.

    Immediate Annuity per annum payable for 5 years certain so long thereafter as the annuitant may be alive

    C.

    Immediate annuity per annum payable for 10 years certain and so long thereafter as the annuitant may be alive

    D.

    Immediate Annuity per annum payable for 15 years certain and so long thereafter as the annuitant may be alive

    E.

    Immediate Annuity per annum payable for 20 years certain and so long thereafter as the annuitant may be alive

    F.

    Immediate Annuity per annum payable for life with return of purchase price on death of the annuitant

    G.

    Immediate Annuity increasing at 3% per annum (simple) payable for life

    H.

    Immediate Annuity for life with a provision for 50 % of the annuity to the spouse on death of the annuitant.

    The above statement is based on certain assumptions which are


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

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