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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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    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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    Multi - Plan Chart: Harish Chand

    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

    Harish Chand

    LIFE INSURANCE CORPORATION OF INDIA


    IRDA Authorised Insurance Advisor
    PH. 09811896425, 09212201725
    help@delhilicagent.com
    www.delhiLICagent.com

    Multi - Plan Chart


    Date : 26/03/2011

    Wonder-Plan Quotation
    Quotation No

    : CHILDFURU1

    Chart Date

    : 26/03/2011

    Name

    : GAURAV

    Chart required upto

    : 26/03/2040

    Date of Birth

    : 26/03/2011

    I. T. Slab

    : 33.99%

    Sec.80 CCE Inv. Limit

    : 0

    : 9.00%

    Loan Interest Rate

    Sr.
    No

    Age

    : 100000

    Year

    Plan/Tm/
    Prem. Tm

    Plan Name

    2011

    185/23/18

    Child Future Plan


    Total :

    Sum

    M
    d

    2000000

    Interim
    Bonus
    Rate

    42

    Loan Re-Investment Rate

    : 0.00%

    Maturity/S.B. proceeds Re-invt. Rate

    : 0.00%

    Sec.80 CCE Tax Rebate

    : 33.99%

    Assu
    Bonus
    Rate

    42

    Assu
    Step
    Rate A/c

    Basic
    Premium

    0.00

    2000000

    Installment
    Premium

    100076

    103018

    100076

    103018

    Annual
    Premium

    Mat
    Date

    103018

    26/03/34

    103018 p.a.

    Rider Details
    Sr.
    No

    Plan/Tm/
    Prem. Tm

    Rider Name

    Year

    2011

    185/23/18

    Premium Waiver Benefit


    Total :

    Rider
    Sum

    Rider
    Term

    Prem.
    Term

    Installment
    Premium

    Annual
    Premium

    Total
    Premium Pd.

    100076

    18

    18

    2942

    2942

    52956

    2942

    2942

    52956

    100076

    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.
    3. ** If premiums paid during the year for any policy exceeds 20% of Sum Assured then Maturity proceeds will be taxable and
    eligible amount for section 80 CCE rebate will be restricted to 20% of Sum Assured.

    The above statement is based on certain assumptions which are


    liable to change according to Government/Corporation's policies.

    Harish Chand
    LIFE INSURANCE CORPORATION OF INDIA
    IRDA Authorised Insurance Advisor
    PH. 09811896425, 09212201725
    help@delhilicagent.com
    www.delhiLICagent.com

    Multi - Plan Chart

    Insurance Facts
    Quotation No

    : CHILDFURU1

    Chart Date

    26/03/2011

    Name

    : GAURAV

    Chart required upto

    26/03/2040

    Date of Birth

    : 26/03/2011

    I. T. Slab

    33.99%

    Age

    Risk Cover

    : 0

    Year

    Age

    Normal

    Accident

    Annual
    Premium

    Tax
    Saved

    Net
    Premium

    Returns
    From L.I.C.

    New Loan
    Available

    Total Loan
    Available

    2011

    100076

    100076

    103018

    33990

    69028

    2012

    200152

    200152

    103018

    33990

    69028

    2013

    300228

    300228

    103018

    33990

    69028

    2014

    400304

    400304

    103018

    33990

    69028

    2015

    500380

    500380

    103018

    33990

    69028

    2016

    2504000

    2504000

    103018

    33990

    69028

    2017

    2588000

    2588000

    103018

    33990

    69028

    2018

    2672000

    2672000

    103018

    33990

    69028

    2019

    2756000

    2756000

    103018

    33990

    69028

    2020

    2840000

    2840000

    103018

    33990

    69028

    2021

    10

    2924000

    2924000

    103018

    33990

    69028

    2022

    11

    3008000

    3008000

    103018

    33990

    69028

    2023

    12

    3092000

    3092000

    103018

    33990

    69028

    2024

    13

    3176000

    3176000

    103018

    33990

    69028

    2025

    14

    3300000

    3300000

    103018

    33990

    69028

    2026

    15

    3394000

    3394000

    103018

    33990

    69028

    2027

    16

    3488000

    3488000

    103018

    33990

    69028

    2028

    17

    3582000

    3582000

    103018

    33990

    69028

    2029

    18

    3696000

    3696000

    500000

    2030

    19

    3820000

    3820000

    200000

    2031

    20

    3964000

    3964000

    200000

    2032

    21

    4148000

    4148000

    200000

    2033

    22

    4432000

    4432000

    200000

    2034

    23

    2000000

    2000000

    3432000

    2035

    24

    2000000

    2000000

    2036

    25

    2000000

    2000000

    2037

    26

    2000000

    2000000

    2038

    27

    2000000

    2000000

    2039

    28

    2000000

    2000000

    2040

    29

    2000000

    2000000
    Total :

    1854324

    611820

    1242504

    4732000

    The above statement is based on certain assumptions which are


    liable to change according to Government/Corporation's policies.

    Harish Chand
    LIFE INSURANCE CORPORATION OF INDIA
    IRDA Authorised Insurance Advisor
    PH. 09811896425, 09212201725
    help@delhilicagent.com
    www.delhiLICagent.com

    Multi - Plan Chart

    Summary of Proposed Insurance


    Quotation No

    : CHILDFURU1

    Chart Date

    : 26/03/2011

    Name

    : GAURAV

    Chart required upto

    : 26/03/2040

    Date of Birth

    : 26/03/2011

    I. T. Slab

    : 33.99%

    Age

    : 0

    Maximum Risk Cover enjoyed (Normal)

    Rs.

    4432000

    Maximum Risk Cover enjoyed (Accidental)

    Rs.

    4432000

    Total Premium paid

    Rs.

    1854324

    Rs.

    611820

    Net Premium paid

    Rs.

    1242504

    Proceeds from LIC by way of Maturity / Sur. Bens.

    Rs.

    4732000

    Tax Payable

    Rs.

    Net after tax Payable

    Rs.

    4732000

    Compounded Value of LIC proceeds @ 0.00 % by 2040

    Rs.

    4732000

    Additional Gain through Loan re-cycling @ 0.00 %

    Rs.

    Rs.

    4732000

    Less : Tax saved on premium

    Net in hand as on 2040

    Yield on Investments 9.59 %


    Assumptions
    --> Premium payments will save tax.
    --> Returns will not be Re-invested in Section 80 CCE schemes.
    --> Gains on Returns Re-investments will not be taxed.
    --> Gains on Loans Re-investments will not be taxed.

    The above statement is based on certain assumptions which are


    liable to change according to Government/Corporation's policies.

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