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Presented by
PH. 09811896425, 09212201725
Delhi LIC Agent
LIFE INSURANCE CORPORATION OF INDIA
Harish Chand
Insurance Proposal for
from age 40 to 50
for Annual Income of Rs. 237000/-
Mr. Manish
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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
Overview of Insurance & Retirement Plan for
Mr. Manish
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.71575/- p.a. from your own
funds till your age of 39 years. This proposal provides for
a high riskcover of Rs.1525250/- starting at age 24 and
growing to Rs.2525900/- at age 40.
In the year 2027 when you will be 40 years of age, you
will start receiving annual tax free income every year till
50 years of your age. Income starts at Rs. 263817 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 39.
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 loan
against the insurance policy. The loan is available after 2
years of completion of the policy and payment of 3 yearly
premiums.
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.com
PH. 09811896425, 09212201725
Delhi LIC Agent
LIFE INSURANCE CORPORATION OF INDIA
Harish Chand
The effective yield in the above proposal works out to 9.76 % (calculated as per IRR method).u
u
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LIFE INSURANCE CORPORATION OF INDIA
Harish Chand
Delhi LIC Agent
PH. 09811896425, 09212201725
www.delhiLICagent.com
MagicPlan - Retire And Enjoy - I
Quotation Ref.No.
Proposer’s Name Proposer’s Age
Quotation Date
(nearer birthday)24Mr. Manish
21/01/201150000
Sum Proposed 71575Yearly Premium1460000
:
:
:
:
:
:
Sec.80 CCE Tax RebateSec.80 CCE Invt. Lmt. 33.99 %100000:
:
Benefits During Deferment Period
Year Age
Risk Cover Yearly
Premium
Tax
Saved
Net
Premium
Loan
AvailableAccidentNormal
2011 24 1525250 71575 4724524330 02985250
2012 25 1590500 71575 4724524330 03050500
2013 26 1655750 71575 4724524330 535003115750
2014 27 1721000 71575 4724524330 1260003181000
2015 28 1786250 71575 4724524330 1737503246250
2016 29 1851500 71575 4724524330 2280003311500
2017 30 1916750 71575 4724524330 2902503376750
2018 31 1982000 71575 4724524330 3587503442000
2019 32 2047250 71575 4724524330 4357503507250
2020 33 2112500 71575 4724524330 5215003572500
2021 34 2177750 71575 4724524330 6172503637750
2022 35 2243000 71575 4724524330 7245003703000
2023 36 2308250 71575 4724524330 8460003768250
2024 37 2373500 71575 4724524330 9842503833500
2025 38 2453350 71575 4724524330 11402503913350
2026 39 2525900 71575 4724524330 13285003985900
1145200 755920389280
* The above projection is based on assumptions enumerated on the page titled "Benefits during the Retirement Period".
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LIFE INSURANCE CORPORATION OF INDIA
Harish Chand
Delhi LIC Agent
PH. 09811896425, 09212201725
www.delhiLICagent.com
MagicPlan - Retire And Enjoy - I
Quotation Ref.No.
Proposer’s Name Proposer’s Age
Quotation Date
(nearer birthday)24Mr. Manish
21/01/201150000
Sum Proposed 71575Yearly Premium1460000
:
:
:
:
:
:
33.99 %:100000: Sec.80 CCE Tax RebateSec.80 CCE Invt. Lmt.
Benefits during the Retirement Period
Year Age
Risk Cover
Returns From LIC
YearlyPremium
AmountReceived
Used forPrem. Pymt.
LoanAvailable
NetReceivable
TaxSaved
NetPremiumAccidentNormal
DesiredIncome
2027 40 2286330 39843 26381760362 303660 124700020519 398433566330 237000
2028 41 2047650 33321 26145950481 294780 115925017160 333213157650 237000
2029 42 1811270 27572 25738841771 284960 106525014199 275722761270 237000
2030 43 1582600 22504 25169634093 274200 96725011589 225042382600 237000
2031 44 1347990 17888 25471227100 272600 8557509212 178882002990 237000
2032 45 1121400 13966 25357421158 267540 7335007192 139661646400 237000
2033 46 912870 10522 24579815941 256320 6070005419 105221317870 237000
2034 47 690780 7380 25183011181 259210 4665003801 7380980780 237000
2035 48 468050 4643 2454677034 250110 3207502391 4643653050 237000
2036 49 241020 2210 2381403348 240350 1707501138 2210331020 237000
2037 50 0 0 2410200 241020 00 00 237000
272469 2944750 179849 2764901
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
Loan calculation is done on the basis of present surrender value ratesu
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.
The effective yield in the above proposal works out to 9.76 % (calculated as per IRR method).u
8/7/2019 LIC plan2
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LIFE INSURANCE CORPORATION OF INDIA
Harish Chand
Delhi LIC Agent
PH. 09811896425, 09212201725
www.delhiLICagent.com
MagicPlan - Retire And Enjoy - I
Quotation Ref.No.
Proposer’s Name Proposer’s DOB
Quotation Date
Mr. Manish
21/01/201150000
Sum Proposed 71575Yearly Premium1460000
:
:
:
:
:
:
Age : 24 (ANB)21/01/1987
33.99 %:100000: Sec.80 CCE Tax RebateSec.80 CCE Invt. Lmt.
Agent's Copy
Yly.Hly.
P R E M I U M
Qly.Mly.SSSFAB
* Bonus
Rate
DAB
SumSumPlan/Tm/PPT
Sr.
No.
#Assu
Step
Rate
Interim
Bonus
Rate
112135694289110139641518000018000014/16/161 0.004242
9881501825488928492017000017000014/17/172 0.004242
8710442322467877492516000016000014/18/183 0.004242
7678389919806946603015000015000014/19/194 0.004242
6993355218036326014014500014500014/20/205 0.004242
5942301815325375115013000013000014/21/216 0.004848
5217265013454714488012000012000014/22/227 0.004848
47602418122843040915011500011500014/23/238 0.004848
41472106107037535723010500010500014/24/249 0.004848
36861871950332317330950009500014/25/2510 0.004848
33481700863302288430900009000014/26/2611 0.004848
7157536349184566465615314600001460000
'#' : - Assuming that bonus rate declared by LIC will increase/decrease per year by step rate mentioned above.2.
'*' : - Assuming LIC will declare the above mentioned bonus rates for the year ended 31-Mar-2011.1.
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