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    Harish Chand
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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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    Premium decrease plan by LIC of India

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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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    Premium Decrease Plan by LIC of India

    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 3

    Mr.

    Harish

    You are the most important member of your family. Your continous ability to earn
    income provides comfort and happiness to your family. And right now, you are in a
    position to be most productive income earner too. Hence, it is very critical that you get
    a long term protection, together with a flexibility of reducing your premium liability after
    a short term.

    Presenting Magic Plan - Bhavishya Sukh

    an insurance proposition for yourself, which will enable you to get covered for a long
    period of 15 years. To make your life easier, you are required to pay high premium only
    for the first five years – the period when you can afford the most. Thereafter the
    premium is reduced considerably to ease your responsibility of maintaining the policies
    and ensure that you get the SUKH, which you deserve the most.

    Salient Features of
    Magic Plan - Bhavishya Sukh proposal prepared exclusively for you

    Insurance Term 15 years

    Sum Assured Rs. 530000

    Risk Coverage Starting at Rs. 550480 and


    growing to Rs. 837200 in 15 years

    Annual Premium in first 5 years Rs. 50595

    Annual Premium from year 6 to 15 Rs. 24224

    Estimated Maturity Amount in the year 2026 Rs.837200 *

    Tax Saved under Section 80 CCE 168,330.00

    Yield On Investments 9.71

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

    * Conditions apply. Refer to illustration page for details


    Harish Chand
    LIFE INSURANCE CORPORATION OF INDIA

    Delhi LIC Agent


    PH. 09811896425, 09212201725
    help@delhilicagent.com
    www.delhiLICagent.com

    MagicPlan - Bhavishya Sukh

    Quotation Ref.No. : Bhavishya Quotation Date : 25/01/2011

    Proposer’s Name : Mr. Harish Proposer’s DOB : 25/01/1983 Age : 28 (ANB)

    Sum Proposed : 530000 Yearly Premium : 50595 (1st Five years)

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

    Insurance Details

    Risk Cover
    Yearly Tax Net Returns New Loan Total Loan
    Year Age Normal Accident Premium Saved Premium From LIC Available Available

    2011 28 550480 1080480 50595 17198 33397 0 0 0


    2012 29 570960 1100960 50595 17198 33397 0 0 0
    2013 30 591440 1121440 50595 17198 33397 0 58500 58500
    2014 31 611920 1141920 50595 17198 33397 0 47500 106000
    2015 32 632400 1162400 50595 17198 33397 0 39000 145000
    2016 33 652880 1012880 24224 8234 15990 0 30000 175000
    2017 34 673360 1033360 24224 8234 15990 0 30500 205500
    2018 35 693840 1053840 24224 8234 15990 0 34750 240250
    2019 36 714320 1074320 24224 8234 15990 0 39000 279250
    2020 37 734800 1094800 24224 8234 15990 0 44500 323750
    2021 38 755280 1115280 24224 8234 15990 0 50750 374500
    2022 39 775760 1135760 24224 8234 15990 0 61750 436250
    2023 40 796240 1156240 24224 8234 15990 0 70000 506250
    2024 41 816720 1176720 24224 8234 15990 0 78750 585000
    2025 42 837200 1197200 24224 8234 15990 0 109750 694750
    2026 43 0 0 0 0 0 837200 0 0

    495215 168330 326885 837200

    u The returns shown in this illustration have been calculated on the basis of the interim bonus rates declared by LIC for
    the year ended 31-Mar-2010. Actual results may deviate depending on future bonuses declared by LIC
    u The Loan figures shown in this chart are calculated on the current surrender value rates
    u The effective yield in the above proposal works out to 9.71 % (calculated as per IRR method)
    Harish Chand
    LIFE INSURANCE CORPORATION OF INDIA

    Delhi LIC Agent


    PH. 09811896425, 09212201725
    help@delhilicagent.com
    www.delhiLICagent.com

    MagicPlan - Bhavishya Sukh

    Quotation Ref.No. : Bhavishya Quotation Date : 25/01/2011

    Proposer’s Name : Mr. Harish Proposer’s DOB : 25/01/1983 Age : 28 (ANB)

    Sum Proposed : 530000 Yearly Premium : 50595 (1st Five years)

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

    Plan Details

    Interim * Bonus #Assu PREMIUM


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

    1 48/15/5 170000 170000 40 40 0 2252 2366 6755 13306 26201


    2 14/15/15 360000 360000 38 38 0 2052 2158 6156 12122 23864

    530000 530000 4304 4524 12911 25428 50065

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

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

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