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Insurance Proposal for Mr. H Damodar for Annual Income of Rs. 30000/- from age 43
Insurance Proposal for
Mr. H Damodar
for Annual Income of Rs. 30000/-
from age 43 to 63
Presented by
P. VENU GOPALA RAO
Sample Report For Demonstration Purpose Only
205-206, C-Wing, Crystal Plaza,New Link Road,
Andheri(W), Mumbai - 400 053.
Tel: 4060 1000 Fax:4060 1226.
e-mail. support@datacompwebtech.com
Presented by P. VENU GOPALA RAO Sample Report For Demonstration Purpose Only 205-206, C-Wing, Crystal
Presented by
P. VENU GOPALA RAO
Sample Report For Demonstration Purpose Only
205-206, C-Wing, Crystal Plaza,New Link Road,
Andheri(W), Mumbai - 400 053.
Tel: 4060 1000 Fax:4060 1226.
e-mail. support@datacompwebtech.com
Overview of Insurance & Retirement Plan for
Mr. H Damodar
The objective of this proposal is to provide financial security to your family during your
productive span and a happy independent retired lifestyle for yourself and your spouse
when you decide to retire.
Under this insurance proposal you will need to make
premium payments of Rs.37887/- p.a. from your own
funds till your age of 42 years. This proposal provides
for a high riskcover of Rs.1099800/- starting at age 24
and growing to Rs.2017200/- at age 43.
In the year 2031 when you will be 43 years of age, you
will start receiving annual tax free income every year till
63 years of your age. Income starts at Rs. 66581 per
annum and increases by approximately 0.00 % every
year to take care of inflating costs of living. There is a
provision of risk cover during this period too. In case of
death during this period lump sum amount
corresponding to the prevailing risk cover will be paid to
your nominee.
No premiums are payable from own fund after deferment
period, that is, after age 42.
In the event of any emergency or financial difficulties,
there is a provision under this Magic Plan to provide loan
against the insurance policy. The loan is available after 2
years of completion of the policy and payment of 3
yearly premiums.
Premiums are available for exemption under sec.80 CCE
of income tax act upto Rs.100000/- per annum.
Disclaimer
u
Magic-Plan Retire & Enjoy is a combination of LIC plans specially researched to meet the objective of securing a financially
independent life for yourself and your spouse on retirement.
u
The benefits shown in this presentation have been calculated on the basis of interim bonuses declared by LIC for the year ended
31-Mar-2011. Actual results may deviate depending on the future bonuses declared by LIC.
u
Loan calculation is done on the basis of present surrender value rates.
u
The effective yield in the above proposal works out to 8.67 % (calculated as per IRR method).
P. VENU GOPALA RAO Sample Report For Demonstration Purpose Only 205-206, C-Wing, Crystal Plaza,New Link
P. VENU GOPALA RAO
Sample Report For Demonstration Purpose Only
205-206, C-Wing, Crystal Plaza,New Link Road,
Andheri(W), Mumbai - 400 053.
Tel: 4060 1000 Fax:4060 1226.
e-mail. support@datacompwebtech.com

MagicPlan - Retire And Enjoy - III

Quotation Ref.No.

:

250256

Quotation Date

:

17/03/2012

Proposer’s Name

:

Mr. H Damodar

Proposer’s Age

:

24

(nearer birthday)

Sum Proposed

:

1050000

Yearly Premium

:

37887

Sec.80 CCE Invt. Lmt.

: 100000

Sec.80 CCE Tax Rebate

: 30.90 %

Benefits During Deferment Period

Year

Age

Risk Cover

Normal

Accident

Yearly

Tax

Net

Loan

Premium

Saved

Premium

Available

2012 24

1099800

1699800

37887

11706

26181

0

2013 25

1149600

1749600

37887

11706

26181

0

2014 26

1199400

1799400

37887

11706

26181

15250

2015 27

1249200

1849200

37887

11706

26181

55000

2016 28

1299000

1899000

37887

11706

26181

76000

2017 29

1348800

1948800

37887

11706

26181

98750

2018 30

1398600

1998600

37887

11706

26181

122500

2019 31

1448400

2048400

37887

11706

26181

149750

2020 32

1498200

2098200

37887

11706

26181

180000

2021 33

1548000

2148000

37887

11706

26181

213250

2022 34

1597800

2197800

37887

11706

26181

250500

2023 35

1647600

2247600

37887

11706

26181

290500

2024 36

1697400

2297400

37887

11706

26181

335000

2025 37

1747200

2347200

37887

11706

26181

385250

2026 38

1797000

2397000

37887

11706

26181

440000

2027 39

1846800

2446800

37887

11706

26181

503500

2028 40

1907100

2507100

37887

11706

26181

573000

2029 41

1962150

2562150

37887

11706

26181

651250

2030 42

2017200

2617200

37887

11706

26181

739500

 

719853

222414

497439

* The above projection is based on assumptions enumerated on the page titled "Benefits during the Retirement Period".

P. VENU GOPALA RAO Sample Report For Demonstration Purpose Only 205-206, C-Wing, Crystal Plaza,New Link
P. VENU GOPALA RAO
Sample Report For Demonstration Purpose Only
205-206, C-Wing, Crystal Plaza,New Link Road,
Andheri(W), Mumbai - 400 053.
Tel: 4060 1000 Fax:4060 1226.
e-mail. support@datacompwebtech.com

MagicPlan - Retire And Enjoy - III

Quotation Ref.No.

:

250256

Quotation Date

:

17/03/2012

Proposer’s Name

:

Mr. H Damodar

Proposer’s Age

:

24

(nearer birthday)

Sum Proposed

:

1050000

Yearly Premium

:

37887

Sec.80 CCE Invt. Lmt.

: 100000

Sec.80 CCE Tax Rebate

:

30.90 %

Benefits during the Retirement Period

Risk Cover

Year

Age

Normal

Accident

Returns From LIC

Yearly

Tax

Net

Desired

Amount

Used for

Net

Loan

Premium

Saved

Premium

Income

Received

Prem. Pymt.

Receivable

Available

2031 43

1979000

2529000

35193

10874

24319

30000

90900

24319

66581

756750

2032 44

1936100

2436100

32647

10087

22560

30000

93250

22560

70690

770250

2033 45

1895400

2345400

30224

9338

20886

30000

101900

20886

81014

777750

2034 46

1873400

2273400

27915

8625

19290

30000

105300

19290

86010

780750

2035 47

1841600

2191600

25711

7944

17767

30000

110200

17767

92433

781250

2036 48

1837500

2137500

23601

7292

16309

30000

115100

16309

98791

776750

2037 49

1818600

2068600

21579

6667

14912

30000

122500

14912

107588

769000

2038 50

1784900

1984900

19634

6066

13568

30000

129900

13568

116332

756750

2039 51

1736400

1886400

17764

5488

12276

30000

137300

12276

125024

740250

2040 52

1673100

1773100

15962

4931

11031

30000

144700

11031

133669

718000

2041 53

1595000

1645000

14223

4394

9829

30000

152100

9829

142271

689500

2042 54

1524600

1524600

12542

3875

8667

30000

159500

8667

150833

656000

2043 55

1434400

1434400

10992

3396

7596

30000

169400

7596

161804

616250

2044 56

1324400

1324400

9489

2932

6557

30000

179300

6557

172743

570000

2045 57

1194600

1194600

8029

2481

5548

30000

189200

5548

183652

517250

2046 58

1045000

1045000

6608

2042

4566

30000

199100

4566

194534

457000

2047 59

875600

875600

5223

1614

3609

30000

209000

3609

205391

388250

2048 60

686400

686400

3872

1197

2675

30000

218900

2675

216225

309250

2049 61

477400

477400

2553

789

1764

30000

228800

1764

227036

219000

2050 62

248600

248600

1263

390

873

30000

238700

873

237827

116500

2051 63

0

0

0

0

0

30000

248600

0

248600

0

 

325024

3343650

224602

3119048

u

u

u

u

Magic-Plan Retire & Enjoy is a combination of LIC plans specially researched to meet the objective of securing a financially independent life for yourself and your spouse on retirement.

The benefits shown in this presentation have been calculated on the basis of interim bonuses declared by LIC for the year ended 31-Mar-2011 . Actual results may deviate depending on the future bonuses declared by LIC.

Loan calculation is done on the basis of present surrender value rates.

The effective yield in the above proposal works out to 8.67 % (calculated as per IRR method).

P. VENU GOPALA RAO Sample Report For Demonstration Purpose Only 205-206, C-Wing, Crystal Plaza,New Link
P. VENU GOPALA RAO
Sample Report For Demonstration Purpose Only
205-206, C-Wing, Crystal Plaza,New Link Road,
Andheri(W), Mumbai - 400 053.
Tel: 4060 1000 Fax:4060 1226.
e-mail. support@datacompwebtech.com

MagicPlan - Retire And Enjoy - III

Quotation Ref.No.

:

250256

Quotation Date

:

17/03/2012

 

Proposer’s Name

:

Mr. H Damodar

Proposer’s DOB

:

12/08/1988

Age

: 24 (ANB)

Sum Proposed

:

1050000

Yearly Premium

:

37887

Sec.80 CCE Invt. Lmt.

: 100000

Sec.80 CCE Tax Rebate

: 30.90 %

Agent's Copy

Sr.

DAB

Interim

* Bonus

#Assu

 

P R E M I U M

 

No.

Plan/Tm/PPT

Sum

Sum

Bonus

Rate

Step

FAB

SSS

Mly.

Qly.

Hly.

Yly.

 

Rate

Rate

 

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

91/19/19

50000

50000

50000

50000

50000

50000

50000

50000

50000

50000

50000

50000

50000

50000

50000

50000

50000

50000

50000

50000

50000

50000

50000

50000

50000

0

50000

0

50000

0

50000

0

50000

0

50000

0

50000

0

50000

0

50000

0

1050000

600000

91/20/20

91/21/21

91/22/22

91/23/23

91/24/24

91/25/25

91/26/26

91/27/27

91/28/28

91/29/29

91/30/30

14/31/31

14/32/32

14/33/33

14/34/34

14/35/35

14/36/36

14/37/37

14/38/38

14/39/39

Note :

42

42

0.00

20

231

243

694

1368

2694

42

42

0.00

25

219

230

656

1293

2546

48

48

0.00

30

208

219

624

1230

2423

48

48

0.00

50

198

208

595

1172

2309

48

48

0.00

100

189

199

568

1119

2204

48

48

0.00

150

181

190

544

1071

2110

48

48

0.00

250

174

182

521

1027

2022

48

48

0.00

350

167

175

501

987

1945

48

48

0.00

450

161

169

482

949

1870

48

48

0.00

550

155

163

464

915

1802

48

48

0.00

650

149

157

448

883

1739

48

48

0.00

750

144

152

433

853

1681

48

48

0.00

900

133

140

399

787

1550

48

48

0.00

1050

129

136

387

763

1503

48

48

0.00

1200

125

132

376

741

1460

48

48

0.00

1350

122

128

366

722

1421

48

48

0.00

1500

119

125

357

703

1385

48

48

0.00

1650

116

122

348

686

1351

48

48

0.00

1800

113

119

340

670

1319

48

48

0.00

1950

111

116

332

655

1290

48

48

0.00

2100

109

114

326

641

1263

 

3253

3419

9761

19235

37887

Additional accidental benefit of Rs.450000 can be granted under policies of Plan no. 14 with a premium of Rs. 450 per annum.

1. '*' : - Assuming LIC will declare the above mentioned bonus rates for the year ended 31-Mar-2012.

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