Scribd Logo
Hochladen

Willkommen bei Scribd!

  • Child Plan

    Hochgeladen von

    Harish Chand
    221 Ansichten5 Seiten
    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

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Verfügbare Formate

    PDF, TXT oder online auf Scribd lesen

    Stufen Sie dieses Dokument als nützlich ein?

    Sind diese Inhalte unangemessen?

    Dieses Dokument melden
    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

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Als PDF, TXT herunterladen oder online auf Scribd lesen
    Markieren Sie unangemessene Inhalte
    221 Ansichten5 Seiten

    Child Plan

    Hochgeladen von

    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

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Als PDF, TXT herunterladen oder online auf Scribd lesen
    Markieren Sie unangemessene Inhalte
    von 5

    Presented by

    HARISH CHAND
    Delhi LIC Agent
    577, GH-9, PASCHIM VIHAR
    NEW DELHI- 110087
    INDIA, 9811896425, 9212201725
    www.delhiLICagent.com

    Insurance Proposal for

    Mr. Krishanpal Bisht


    for Securing the College Education of

    Kum. Ridhima
    in a Premium Budget of Rs.28000/-
    Presented by
    HARISH CHAND
    Delhi LIC Agent
    577, GH-9, PASCHIM VIHAR
    NEW DELHI- 110087
    INDIA, 9811896425, 9212201725
    www.delhiLICagent.com

    Insurance Proposal for


    Mr. Krishanpal Bisht
    for securing the future of your child
    Kum. Ridhima

    The planning for your child’s


    secured future starts now when
    she is 0 years of age. For 16
    In the year 2026, Kum.
    years you will need to pay an
    Ridhima will be 16 years of age.
    amount of Rs. 29008/- per
    She is expected to join college at
    annum as premium towards the
    this age. Hence there is a
    proposed insurance
    provision made for Rs.
    164882/- to be received in this
    year to meet the extraordinary
    costs of admission, coaching
    classes, attire, etc.

    To ensure quality education Year Age Estimated Amount


    and a comfortable lifestyle 2026 16 164882
    during her college period, this 17 84539
    2027
    plan will provide cash every
    2028 18 90210
    year as per the table shown
    2029 19 96035
    alongside
    2030 20 105050
    2031 21 120354

    Kum. Ridhima will complete her graduation in the


    year 2032 when she is 22 years of age. She may
    want to pursue post graduation abroad or may
    want to start business. Both these objectives will
    demand sizeable amount of money. This Magic Plan
    will make her dream come true with a lumpsum
    amount of Rs. 374480/-

    u Magic Plan — Secure Child is a combination of LIC Plans specially researched to meet the objective of securing your child’s future.

    u The returns shown in this illustration have been calculated on the basis of the interim bonus rates last declared by LIC for the year ended .
    Actual results may deviate depending on future bonuses declared by LIC,
    u In the unfortunate event of your early death, the premiums on the policies will cease immediately and risk cover of Rs.500000 will be paid to
    the nominee. The returns, however will be received in the years as indicated in this MagicPlan.

    u The effective yield in the above proposal works out to 9.88 % (calculated as per IRR method)
    HARISH CHAND
    Delhi LIC Agent

    577, GH-9, PASCHIM VIHAR


    NEW DELHI- 110087
    INDIA, 9811896425, 9212201725
    www.delhiLICagent.com

    MagicPlan - Secure Child

    Quotation Ref.No. : HC003 Date : 01/07/2010

    Proposer’s Name : Mr. Krishanpal Bisht Proposer's Age : 30 (nearer birthday)

    Child’s Name : Kum. Ridhima Child's Age : 0 (last birthday)

    Sum Proposed : 1035000 Yearly Premium : 29008

    Sec. 80 CCE Invt Lmt. : 100000 Sec. 80 CCE Tax Rebate : 33.99 %

    Year wise details of benefits of this plan

    PREMIUM Nett
    Amount
    Your Child's Accidental Expected Annual Tax Nett Funded From Paid From
    In Hand
    Year Age Age Risk Cover Cashflow Premium Saving Premium Cashflow Own Funds

    2010 30 0 1035000 0 29008 9860 19148 0 19148 0

    2011 31 1 1035000 0 29008 9860 19148 0 19148 0

    2012 32 2 1035000 0 29008 9860 19148 0 19148 0

    2013 33 3 1035000 0 29008 9860 19148 0 19148 0

    2014 34 4 1035000 0 29008 9860 19148 0 19148 0

    2015 35 5 1035000 0 29008 9860 19148 0 19148 0

    2016 36 6 1035000 0 29008 9860 19148 0 19148 0

    2017 37 7 1035000 0 29008 9860 19148 0 19148 0

    2018 38 8 1035000 0 29008 9860 19148 0 19148 0

    2019 39 9 1035000 0 29008 9860 19148 0 19148 0

    2020 40 10 1035000 0 29008 9860 19148 0 19148 0

    2021 41 11 1035000 0 29008 9860 19148 0 19148 0

    2022 42 12 1035000 0 29008 9860 19148 0 19148 0

    2023 43 13 1035000 0 29008 9860 19148 0 19148 0

    2024 44 14 1035000 0 29008 9860 19148 0 19148 0

    2025 45 15 1035000 0 29008 9860 19148 0 19148 0

    2026 46 16 930000 179760 22539 7661 14878 14878 0 164882

    2027 47 17 875000 97295 19325 6569 12756 12756 0 84539

    2028 48 18 820000 100980 16316 5546 10770 10770 0 90210

    2029 49 19 765000 104940 13491 4586 8905 8905 0 96035

    2030 50 20 710000 112200 10832 3682 7150 7150 0 105050

    2031 51 21 655000 125840 8311 2825 5486 5486 0 120354

    2032 52 22 0 374480 0 0 0 0 0 374480

    1095495 554942 188629 366313 59945 306368 1035550


    HARISH CHAND
    Delhi LIC Agent

    577, GH-9, PASCHIM VIHAR


    NEW DELHI- 110087
    INDIA, 9811896425, 9212201725
    www.delhiLICagent.com

    MagicPlan - Secure Child


    u Magic Plan — Secure Child is a combination of LIC Plans specially researched to meet the objective of securing your child’s future.
    u The returns shown in this illustration have been calculated on the basis of the interim bonus rates last declared by LIC for the year ended
    31-Mar-2009. Actual results may deviate depending on future bonuses declared by LIC,
    u In the unfortunate event of your early death, the premiums on the policies will cease immediately and risk cover Rs.500000 of will be paid to
    the nominee. The returns, however will be received in the years as indicated in this MagicPlan.

    u The effective yield in the above proposal works out to 9.88 % (calculated as per IRR method)
    HARISH CHAND
    Delhi LIC Agent

    577, GH-9, PASCHIM VIHAR


    NEW DELHI- 110087
    INDIA, 9811896425, 9212201725
    www.delhiLICagent.com

    MagicPlan - Secure Child

    Quotation Ref.No. : HC003 Date : 01/07/2010

    Proposer’s Name : Mr. Krishanpal Bisht Proposer’s DOB : 30/04/1980 Age : 30 (ANB)

    Sum Proposed : 1035000 Yearly Premium : 29008

    Sec. 80 CCE Invt Lmt. : 100000 Sec. 80 CCE Tax Rebate : 33.99 %

    Agent's Copy

    Sr. Interim * Bonus #Assu PREMIUM


    No. Plan/Tm/PPT Sum DAB Bonus Rate Step FAB SSS Mly. Qly. Hly. Yly.
    Sum Rate Rate

    1 90/16/16 105000 105000 42 42 0.00 40 547 576 1642 3233 6364


    2 90/17/17 55000 55000 42 42 0.00 55 272 285 815 1605 3159
    3 90/18/18 55000 55000 42 42 0.00 80 254 267 762 1500 2954
    4 90/19/19 55000 55000 42 42 0.00 110 238 250 714 1407 2770
    5 90/20/20 55000 55000 42 42 0.00 200 224 235 672 1323 2604
    6 90/21/21 55000 55000 48 48 0.00 280 212 223 636 1252 2466
    7 90/22/22 155000 155000 48 48 0.00 360 553 582 1660 3269 6433
    8 164/22/22 500000 0 0 0 0.00 0 0 0 0 870 1723

    1035000 2300 2418 6901 14459 28473

    1. '*' : - Assuming LIC will declare the above mentioned bonus rates for the year ended 31-Mar-2,010

    2. '#' : - Assuming that bonus rate declared by LIC will increase/decrease per year by step rate mentioned above.

    Das könnte Ihnen auch gefallen