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    Multi - Plan Chart: Harish Chand

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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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    Multi - Plan Chart: Harish Chand

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    28 views5 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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    28 views5 pages

    Multi - Plan Chart: Harish Chand

    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 5

    Harish Chand

    LIFE INSURANCE CORPORATION OF INDIA


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

    Multi - Plan Chart


    Date : 04/02/2011

    Wonder-Plan Quotation
    Quotation No

    : Amitjha1

    Chart Date

    : 04/02/2011

    Name

    : Richard

    Chart required upto

    : 04/02/2079

    Date of Birth

    : 04/02/1979

    I. T. Slab

    : 33.99%

    : 32

    : 9.00%

    Loan Interest Rate

    Sec.80 CCE Inv. Limit

    Sr.
    No

    Age

    : 100000

    Interim
    Bonus
    Rate

    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

    Sum

    M
    d

    Jeevan Anand

    1000000

    45

    45

    Anmol Jeevan-1

    2400000

    Year

    Plan/Tm/
    Prem. Tm

    Plan Name

    2011

    149/21/21

    2011

    164/21/21

    Total :

    Assu
    Step
    Rate A/c

    Basic
    Premium

    Installment
    Premium

    Annual
    Premium

    0.00

    51898

    51898

    51898

    04/02/32

    0.00

    9148

    9148

    9148

    04/02/32

    61046

    61046

    3400000

    Mat
    Date

    61046 p.a.

    Rider Details
    Sr.
    No

    Plan/Tm/
    Prem. Tm

    Rider Name

    Year

    2011

    149/21/21

    Double Accident Benefit


    Total :

    Rider
    Sum

    Rider
    Term

    Prem.
    Term

    500000

    21

    21

    Installment
    Premium

    500000

    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

    The above statement is based on certain assumptions which are


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

    Total
    Premium Pd.

    1. '*' : - Assuming LIC will declare the above mentioned bonus rates for the year ended 31-Mar-2011

    eligible amount for section 80 CCE rebate will be restricted to 20% of Sum Assured.

    Annual
    Premium

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

    Multi - Plan Chart

    Insurance Facts
    Quotation No

    : Amitjha1

    Chart Date

    04/02/2011

    Name

    : Richard

    Chart required upto

    04/02/2079

    Date of Birth

    : 04/02/1979

    I. T. Slab

    33.99%

    Age

    Risk Cover

    : 32

    Year

    Age

    Normal

    Accident

    Annual
    Premium

    Tax
    Saved

    Net
    Premium

    Returns
    From L.I.C.

    New Loan
    Available

    Total Loan
    Available

    2011

    32

    3445000

    3945000

    61046

    20749

    40297

    2012

    33

    3490000

    3990000

    61046

    20749

    40297

    2013

    34

    3535000

    4035000

    61046

    20749

    40297

    39250

    39250

    2014

    35

    3580000

    4080000

    61046

    20749

    40297

    48750

    88000

    2015

    36

    3625000

    4125000

    61046

    20749

    40297

    33250

    121250

    2016

    37

    3670000

    4170000

    61046

    20749

    40297

    37750

    159000

    2017

    38

    3715000

    4215000

    61046

    20749

    40297

    43000

    202000

    2018

    39

    3760000

    4260000

    61046

    20749

    40297

    48750

    250750

    2019

    40

    3805000

    4305000

    61046

    20749

    40297

    55000

    305750

    2020

    41

    3850000

    4350000

    61046

    20749

    40297

    62000

    367750

    2021

    42

    3895000

    4395000

    61046

    20749

    40297

    69750

    437500

    2022

    43

    3940000

    4440000

    61046

    20749

    40297

    78750

    516250

    2023

    44

    3985000

    4485000

    61046

    20749

    40297

    80000

    596250

    2024

    45

    4030000

    4530000

    61046

    20749

    40297

    90000

    686250

    2025

    46

    4095000

    4595000

    61046

    20749

    40297

    101500

    787750

    2026

    47

    4145000

    4645000

    61046

    20749

    40297

    115250

    903000

    2027

    48

    4195000

    4695000

    61046

    20749

    40297

    131000

    1034000

    2028

    49

    4245000

    4745000

    61046

    20749

    40297

    158000

    1192000

    2029

    50

    4305000

    4805000

    61046

    20749

    40297

    177750

    1369750

    2030

    51

    4370000

    4870000

    61046

    20749

    40297

    200500

    1570250

    2031

    52

    4445000

    4945000

    61046

    20749

    40297

    225500

    1795750

    2032

    53

    1000000

    1500000

    2045000

    245250

    245250

    2033

    54

    1000000

    1500000

    13750

    259000

    2034

    55

    1000000

    1500000

    12250

    271250

    2035

    56

    1000000

    1500000

    12500

    283750

    2036

    57

    1000000

    1500000

    12750

    296500

    2037

    58

    1000000

    1500000

    13000

    309500

    2038

    59

    1000000

    1500000

    13250

    322750

    2039

    60

    1000000

    1500000

    13500

    336250

    2040

    61

    1000000

    1500000

    13750

    350000

    2041

    62

    1000000

    1500000

    13500

    363500

    2042

    63

    1000000

    1500000

    14000

    377500

    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

    Multi - Plan Chart

    Risk Cover
    Accident

    Annual
    Premium

    Tax
    Saved

    Net
    Premium

    Returns
    From L.I.C.

    New Loan
    Available

    Total Loan
    Available

    1000000

    1500000

    14000

    391500

    65

    1000000

    1500000

    14000

    405500

    66

    1000000

    1500000

    14000

    419500

    2046

    67

    1000000

    1500000

    14000

    433500

    2047

    68

    1000000

    1500000

    14250

    447750

    2048

    69

    1000000

    1500000

    14000

    461750

    2049

    70

    1000000

    1000000

    14000

    475750

    2050

    71

    1000000

    1000000

    13750

    489500

    2051

    72

    1000000

    1000000

    13750

    503250

    2052

    73

    1000000

    1000000

    13500

    516750

    2053

    74

    1000000

    1000000

    13500

    530250

    2054

    75

    1000000

    1000000

    13250

    543500

    2055

    76

    1000000

    1000000

    13000

    556500

    2056

    77

    1000000

    1000000

    12750

    569250

    2057

    78

    1000000

    1000000

    12250

    581500

    2058

    79

    1000000

    1000000

    12250

    593750

    2059

    80

    1000000

    1000000

    12000

    605750

    2060

    81

    1000000

    1000000

    11500

    617250

    2061

    82

    1000000

    1000000

    11250

    628500

    2062

    83

    1000000

    1000000

    10750

    639250

    2063

    84

    1000000

    1000000

    10750

    650000

    2064

    85

    1000000

    1000000

    10250

    660250

    2065

    86

    1000000

    1000000

    9750

    670000

    2066

    87

    1000000

    1000000

    9500

    679500

    2067

    88

    1000000

    1000000

    9250

    688750

    2068

    89

    1000000

    1000000

    9000

    697750

    2069

    90

    1000000

    1000000

    9000

    706750

    2070

    91

    1000000

    1000000

    9000

    715750

    2071

    92

    1000000

    1000000

    8750

    724500

    2072

    93

    1000000

    1000000

    9250

    733750

    2073

    94

    1000000

    1000000

    11750

    745500

    2074

    95

    1000000

    1000000

    10250

    755750

    2075

    96

    1000000

    1000000

    19500

    775250

    2076

    97

    1000000

    1000000

    19000

    794250

    2077

    98

    1000000

    1000000

    43750

    838000

    2078

    99

    1000000

    1000000

    31000

    869000

    2079

    100

    1000000

    1000000

    1281966

    435729

    846237

    2045000

    Year

    Age

    Normal

    2043

    64

    2044
    2045

    Total :

    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

    Multi - Plan Chart

    * Normal Riskcover of Rs. 1000000 will continue till life time.

    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

    Multi - Plan Chart

    Summary of Proposed Insurance


    Quotation No

    : Amitjha1

    Chart Date

    : 04/02/2011

    Name

    : Richard

    Chart required upto

    : 04/02/2079

    Date of Birth

    : 04/02/1979

    I. T. Slab

    : 33.99%

    Age

    : 32

    Maximum Risk Cover enjoyed (Normal)

    Rs.

    4445000

    Maximum Risk Cover enjoyed (Accidental)

    Rs.

    4945000

    Total Premium paid

    Rs.

    1281966

    Rs.

    435729

    Net Premium paid

    Rs.

    846237

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

    Rs.

    2045000

    Tax Payable

    Rs.

    Net after tax Payable

    Rs.

    2045000

    Compounded Value of LIC proceeds @ 0.00 % by 2079

    Rs.

    2045000

    Additional Gain through Loan re-cycling @ 0.00 %

    Rs.

    Rs.

    2045000

    Less : Tax saved on premium

    Net in hand as on 2079

    Yield on Investments 7.44 %


    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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