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Presented by
PH. 09811896425, 09212201725
IRDA Authorised Insurance Advisor
LIFE INSURANCE CORPORATION OF INDIA
Harish Chand
Insurance Proposal for
from age 61 to 75
for Annual Income of Rs. 201000/-
Mr. Sandeep
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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. Sandeep
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 ofRs.124206/- p.a. from your own
funds till your age of60 years. This proposal provides for
a high riskcover ofRs.2012130/- starting at age 46 and
growing to Rs.3218773/- at age 61.
In the year 2026 when you will be 61 years of age, you
will start receiving annual tax free income every year till
75 years of your age. Income starts at Rs.242450 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 ofdeath 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 60.
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
IRDA Authorised Insurance Advisor
LIFE INSURANCE CORPORATION OF INDIA
Harish Chand
The effective yield in the above proposal works out to 6.64 % (calculated as per IRR method).
u
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LIFE INSURANCE CORPORATION OF INDIA
Harish Chand
IRDA Authorised Insurance Advisor
PH. 09811896425, 09212201725
www.delhiLICagent.com
MagicPlan - Retire And Enjoy - II
Quotation Ref.No.
Proposers Name Proposers Age
Quotation Date
(nearer birthday)46Mr. Sandeep
11/06/2011Sandeep123
Sum Proposed 124206Yearly Premium1930000
:
:
:
:
:
:
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 46 2012130 124206 9021633990 02512130
2012 47 2094260 124206 9021633990 02594260
2013 48 2176390 124206 9021633990 1005002676390
2014 49 2258520 124206 9021633990 1840002758520
2015 50 2340650 124206 9021633990 2592502840650
2016 51 2422780 124206 9021633990 3442502922780
2017 52 2504910 124206 9021633990 4395003004910
2018 53 2587040 124206 9021633990 5472503087040
2019 54 2669170 124206 9021633990 6682503169170
2020 55 2751300 124206 9021633990 8042503251300
2021 56 2833430 124206 9021633990 9560003333430
2022 57 2915560 124206 9021633990 11290003415560
2023 58 2997690 124206 9021633990 13242503497690
2024 59 3079820 124206 9021633990 15457503579820
2025 60 3218773 124206 9021633990 17960003718773
1863090 1353240509850
* 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
IRDA Authorised Insurance Advisor
PH. 09811896425, 09212201725
www.delhiLICagent.com
MagicPlan - Retire And Enjoy - II
Quotation Ref.No.
Proposers Name Proposers Age
Quotation Date
(nearer birthday)46Mr. Sandeep
11/06/2011Sandeep123
Sum Proposed 124206Yearly Premium1930000
:
:
:
:
:
:
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
2026 61 3184872 72550 242450106540 315000 178900033990 725503684872 201000
2027 62 3137390 60551 24022991732 300780 177800031181 605513637390 201000
2028 63 3085615 52172 23113379038 283305 176725026866 521723585615 201000
2029 64 3026643 44782 22848367843 273265 175150023061 447823526643 201000
2030 65 2966602 38273 22403257982 262305 173225019709 382733466602 201000
2031 66 2899521 32537 21856349292 251100 171000016755 325373399521 201000
2032 67 2832863 27510 22186541676 249375 167725014166 275103332863 201000
2033 68 2784069 23120 21493035026 238050 164475011906 231203284069 201000
2034 69 2720626 19126 22122428975 240350 16032509849 191263220626 201000
2035 70 2657500 15661 21533923726 231000 15640008065 156612657500 201000
2036 71 2570000 12274 23322618595 245500 15065006321 122742570000 201000
2037 72 2456500 9028 25097213677 260000 14292504649 90282456500 201000
2038 73 2312000 5906 2695948948 275500 13292503042 59062312000 201000
2039 74 2136500 2900 2881004394 291000 12035001494 29002136500 201000
2040 75 1930000 0 3065000 306500 10482500 01930000 201000
627444 4023030 416390 3606640
u 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
u
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 The Riskcover of Rs. 1,930,000.00 will continue till life time.The effective yield in the above proposal works out to 6.64 % (calculated as per IRR method).
u IRR does not consider the death benefit after age 75.
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LIFE INSURANCE CORPORATION OF INDIA
Harish Chand
IRDA Authorised Insurance Advisor
PH. 09811896425, 09212201725
www.delhiLICagent.com
MagicPlan - Retire And Enjoy - II
Quotation Ref.No.
Proposers Name Proposers Age
Quotation Date
(ANB)46Mr. Sandeep
11/06/2011Sandeep123
Sum Proposed 1930000
:
:
:
:
:
Benefits After Retirement Age
AccidentNormalAge
Risk Cover
Loan AvailableCash ValueYear
2041 76 1930000 1930000 1193126 10745002042 77 1930000 1930000 1220532 1099000
2043 78 1930000 1930000 1247166 1123250
2044 79 1930000 1930000 1273414 1146750
2045 80 1930000 1930000 1298890 1169000
2046 81 1930000 1930000 1323594 1191500
2047 82 1930000 1930000 1347719 1212500
2048 83 1930000 1930000 1371072 1234000
2049 84 1930000 1930000 1393653 1254500
2050 85 1930000 1930000 1415655 1273750
2051 86 1930000 1930000 1436692 1293000
2052 87 1930000 1930000 1457150 1311750
2053 88 1930000 1930000 1476836 1328500
2054 89 1930000 1930000 1496522 1346750
2055 90 1930000 1930000 1515436 1364250
2056 91 1930000 1930000 1534736 1380750
2057 92 1930000 1930000 1553843 1398500
2058 93 1930000 1930000 1573529 1417000
2059 94 1930000 1930000 1598619 1438500
2060 95 1930000 1930000 1620621 1458500
2061 96 1930000 1930000 1662309 1496500
2062 97 1930000 1930000 1703032 1533000
2063 98 1930000 1930000 1796830 1616500
2064 99 1930000 1930000 1863415 1677750
2065 100 1930000 1930000 0 0
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LIFE INSURANCE CORPORATION OF INDIA
Harish Chand
IRDA Authorised Insurance Advisor
PH. 09811896425, 09212201725
www.delhiLICagent.com
MagicPlan - Retire And Enjoy - II
Quotation Ref.No.
Proposers Name Proposers DOB
Quotation Date
Mr. Sandeep
11/06/2011Sandeep123
Sum Proposed 124206Yearly Premium1930000
:
:
:
:
:
:
Age : 46 (ANB)11/06/1965
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
176668971455515951518200200000149/15/151 0.003737
148087520381813371273150180000149/16/162 0.004141
126946447327311461091200165000149/17/173 0.004141
11195568628871011962250155000149/18/184 0.004141
986150082543891848300145000149/19/195 0.004141
869044142241785747400135000149/20/206 0.004141
761638681964688655500125000149/21/217 0.004545
665033771715601572800115000149/22/228 0.004545
6051307315615475201500110000149/23/239 0.004545
5249266613544744512300100000149/24/2410 0.004545
513126051322463441330100000100000149/25/2511 0.004545
491824971267444422430100000100000149/26/2612 0.004545
472924011219427406540100000100000149/27/2713 0.004545
455423121174411391650100000100000149/28/2814 0.004545
439422311132396377760100000100000149/29/2915 0.004545
124206630763202511216106745000001930000
'#' : - 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.