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LIC - Retire and Enjoy

LIC - Retire and Enjoy

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Published by Thiagarajan Vasu
LIC's Retire and Enjoy -- Combination of Plans

Tax Free Pension Plan
LIC's Retire and Enjoy -- Combination of Plans

Tax Free Pension Plan

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Published by: Thiagarajan Vasu on Apr 13, 2011
Copyright:Attribution Non-commercial

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10/05/2012

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Presented by
E-Mail : vasu_thiagu@yahoo.comMobile : 94441 09708Vinayagapuram, Chennai - 600099No : 100, Sri Padmavathi Nagar,Family Investment Consultant
V. THIAGARAJAN
Insurance Proposal for
from age
56 to 75
for Annual Income of Rs.
129000/-
Mr. T. ASHOK KUMAR
 
Magic-Plan Retire & Enjoy is a combination of LIC plans specially researched to meet the objective of securing afinancially independent life for yourself and your spouse on retirement.
u
Overview of Insurance & Retirement Plan for
Mr. T. ASHOK KUMAR
The objective of this proposal is to provide financial security to your family during yourproductive span and a happy independent retired lifestyle for yourself and your spousewhen you decide to retire.Under this insurance proposal you will need to makepremium payments of 
Rs.
38057/-
p.a. from your ownfunds till your age of 
55
years. This proposal providesfor a high riskcover of 
Rs.
1259800/-
starting at age
31
and growing to
Rs.
3405000/-
upto age
56
.In the year
2036
when you become
56
years of age,this plan will provide for regular tax-free income tosupport your comfortable retired life till age
75
. Theincome has been planned such that it takes care of inflation of 5% every year. Additionally, this plan alsokeeps your life covered in this period. In case of deathduring this period a lumpsum amount shall be paid toyour nominee.No premiums are payable from own fund after defermentperiod, that is, after age
55
.Premiums are available for exemption under sec.80 CCE of income tax act upto Rs.
100000/-
per annum.In the event of any emergency or financial difficulties,there is a provision under this Magic Plan to provide loanagainst the insurance policy. The loan is available after 2years of completion of the policy and payment of 3 yearlypremiums.
Disclaimer
The benefits shown in this presentation have been calculated on the basis of interim bonuses declared by LIC for theyear ended 31-Mar-2009. Actual results may deviate depending on the future bonuses declared by LIC.Loan calculation is done on the basis of present surrender value rates.
u
Presented by
E-Mail : vasu_thiagu@yahoo.comMobile : 94441 09708Vinayagapuram, Chennai - 600099No : 100, Sri Padmavathi Nagar,Family Investment Consultant
V. THIAGARAJAN
The effective yield in the above proposal works out to
8.71 %
(calculated as per IRR method).
uu
 
Family Investment Consultant
V. THIAGARAJAN
No : 100, Sri Padmavathi Nagar,Vinayagapuram, Chennai - 600099Mobile : 94441 09708E-Mail : vasu_thiagu@yahoo.com
MagicPlan - Retire And Enjoy - V
Quotation Ref.No.Proposer’s NameProposer’s AgeQuotation Date
(nearer birthday)31Mr. T. ASHOK KUMAR13/04/20112011-Ashok
Sum Proposed
38057
Yearly Premium
1200000
::::::Sec.80 CCE Tax RebateSec.80 CCE Invt. Lmt.
33.99 %100000
::
Benefits During Deferment Period
AgeYearlyPremiumLoanAvailableYearRisk CoverNormal Accident
2011 038057125980031 2459800 2012 038057131960032 2519600 2013 1250038057137940033 2579400 2014 4275038057143920034 2639200 2015 6075038057149900035 2699000 2016 8000038057155880036 2758800 2017 10025038057161860037 2818600 2018 12150038057167840038 2878400 2019 14500038057173820039 2938200 2020 17000038057179800040 2998000 2021 19800038057185780041 3057800 2022 22650038057191760042 3117600 2023 26025038057197740043 3177400 2024 29675038057203720044 3237200 2025 33700038057211900045 3319000 2026 38075038057220080046 3400800 2027 42925038057227910047 3479100 2028 48175038057236790048 3567900 2029 54050038057246270049 3662700 2030 60550038057262800050 3828000 2031 67700038057278340051 3983400 2032 75650038057293880052 4138800 2033 84375038057309420053 4294200 2034 94300038057324960054 4449600 2035 105700038057340500055 4605000
951425
* The above projection is based on assumptions enumerated on the page titled "Benefits during the Retirement Period".

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