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Published by Harish Chand
Forms and Plans of LIC
Forms and Plans of LIC

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Published by: Harish Chand on Oct 10, 2011
Copyright:Attribution Non-commercial

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06/21/2014

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Presented by
www.delhiLICagent.comhelp@delhilicagent.comPH. 09811896425, 09212201725Delhi LIC AgentLIFE INSURANCE CORPORATION OF INDIA
Harish Chand
Insurance Proposal for
from age
50 to 65
for Annual Income of Rs.
250000/-
Mr. Ram
 
Magic-Plan Retire & Enjoy is a combination of LIC plans specially researched to meet the objective of securing a financiallyindependent life for yourself and your spouse on retirement.
u
Overview of Insurance & Retirement Plan for
Mr. Ram
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.
69995/-
p.a. from your ownfunds till your age of 
49
years. This proposal provides fora high riskcover of 
Rs.
1896675/-
starting at age
29
andgrowing to
Rs.
3620925/-
at age
50
.In the year
2032
when you will be
50
years of age, youwill start receiving annual tax free income every year till
65
years of your age. Income starts at
Rs.
 
278482
perannum and increases by approximately
0.00 %
everyyear to take care of inflating costs of living. There is aprovision of risk cover during this period too. In case of death during this period lump sum amount correspondingto the prevailing risk cover will be paid to your nominee.No premiums are payable from own fund after defermentperiod, that is, after age
49
.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 the year ended 31-Mar-2010. 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
www.delhiLICagent.comhelp@delhilicagent.comPH. 09811896425, 09212201725Delhi LIC AgentLIFE INSURANCE CORPORATION OF INDIA
Harish Chand
The effective yield in the above proposal works out to
8.81 %
(calculated as per IRR method).
u
 
LIFE INSURANCE CORPORATION OF INDIA 
Harish Chand
Delhi LIC AgentPH. 09811896425, 09212201725help@delhilicagent.comwww.delhiLICagent.com
MagicPlan - Retire And Enjoy - II
Quotation Ref.No.Proposers NameProposers AgeQuotation Date
(nearer birthday)29Mr. Ram18/01/2011Forram
Sum Proposed
69995
Yearly Premium
1815000
: : : : : : Sec.80 CCE Tax RebateSec.80 CCE Invt. Lmt.
33.99 %100000
: : 
Benefits During Deferment Period
 YearAgeRisk Cover YearlyPremiumTaxSavedNetPremiumLoan Available AccidentNormal
201129 189667569995462052379002396675201230 197835069995462052379002478350201331 2060025699954620523790392502560025201432 2141700699954620523790950002641700201533 22233756999546205237901315002723375201634 23050506999546205237901730002805050201735 23867256999546205237902195002886725201836 24684006999546205237902722502968400201937 25500756999546205237903322503050075202038 26317506999546205237903992503131750202139 27134256999546205237904735003213425202240 27951006999546205237905580003295100202341 28767756999546205237906510003376775202442 29584506999546205237907535003458450202543 30582756999546205237908670003558275202644 31490256999546205237909925003649025202745 323977569995462052379011317503739775202846 333052569995462052379012877503830525202947 342127569995462052379014642503921275203048 352110069995462052379016615004021100203149 362092569995462052379018832504120925
1469895970305499590
* The above projection is based on assumptions enumerated on the page titled "Benefits during the Retirement Period".

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