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  • Jeevan Sathi 1 Lakh

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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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    Jeevan Sathi 1 lakh

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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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    Download as PDF, TXT or read online from Scribd
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    24 views2 pages

    Jeevan Sathi 1 Lakh

    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 2

    Harish Chand

    LIFE INSURANCE CORPORATION OF INDIA

    Delhi LIC Agent


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

    Jeevan Saathi Plan Presentation

    Name : Mr. Gupta Age : 34 Spouse's Age : 32


    Sum : 100000 Term : 20 Report Date : 01/02/2011

    Risk Cover of Surviving Life Risk Cover Annual Tax Net Returns
    Year Age Normal Accident Normal Accident Premium Saved Premium from L.I.C

    2011 34 100000 100000 100000 100000 5904 2007 3897 0


    2012 35 100000 100000 100000 100000 5904 2007 3897 0
    2013 36 100000 100000 100000 100000 5904 2007 3897 0
    2014 37 100000 100000 100000 100000 5904 2007 3897 0
    2015 38 100000 100000 100000 100000 5904 2007 3897 0
    2016 39 100000 100000 100000 100000 5904 2007 3897 0
    2017 40 100000 100000 100000 100000 5904 2007 3897 0
    2018 41 100000 100000 100000 100000 5904 2007 3897 0
    2019 42 100000 100000 100000 100000 5904 2007 3897 0
    2020 43 100000 100000 100000 100000 5904 2007 3897 0
    2021 44 100000 100000 100000 100000 5904 2007 3897 0
    2022 45 100000 100000 100000 100000 5904 2007 3897 0
    2023 46 100000 100000 100000 100000 5904 2007 3897 0
    2024 47 100000 100000 100000 100000 5904 2007 3897 0
    2025 48 100000 100000 100000 100000 5904 2007 3897 0
    2026 49 100000 100000 100000 100000 5904 2007 3897 0
    2027 50 100000 100000 100000 100000 5904 2007 3897 0
    2028 51 100000 100000 100000 100000 5904 2007 3897 0
    2029 52 100000 100000 100000 100000 5904 2007 3897 0
    2030 53 100000 100000 100000 100000 5904 2007 3897 0
    2031 54 0 0 0 0 0 0 0 192000

    118080 40140 77940 192000

    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

    Delhi LIC Agent


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

    Jeevan Saathi Plan Presentation

    Name : Mr. Gupta Age : 34 Spouse's Age : 32


    Sum : 100000 Term : 20 Report Date : 01/02/2011

    Financial working in the unfortunate event of death of one of the partners after 10 years.

    Risk Cover of Surviving Life Risk Cover Annual Tax Net Returns
    Year Age Normal Accident Normal Accident Premium Saved Premium from L.I.C

    2011 34 100000 100000 100000 100000 5904 2007 3897 0


    2012 35 100000 100000 100000 100000 5904 2007 3897 0
    2013 36 100000 100000 100000 100000 5904 2007 3897 0
    2014 37 100000 100000 100000 100000 5904 2007 3897 0
    2015 38 100000 100000 100000 100000 5904 2007 3897 0
    2016 39 100000 100000 100000 100000 5904 2007 3897 0
    2017 40 100000 100000 100000 100000 5904 2007 3897 0
    2018 41 100000 100000 100000 100000 5904 2007 3897 0
    2019 42 100000 100000 100000 100000 5904 2007 3897 0
    2020 43 100000 100000 100000 100000 5904 2007 3897 0
    2021 44 148400 148400 0 0 0 0 0 100000
    2022 45 152800 152800 0 0 0 0 0 0
    2023 46 157200 157200 0 0 0 0 0 0
    2024 47 161600 161600 0 0 0 0 0 0
    2025 48 167000 167000 0 0 0 0 0 0
    2026 49 171900 171900 0 0 0 0 0 0
    2027 50 176800 176800 0 0 0 0 0 0
    2028 51 181700 181700 0 0 0 0 0 0
    2029 52 186600 186600 0 0 0 0 0 0
    2030 53 192000 192000 0 0 0 0 0 0
    2031 54 0 0 0 0 0 0 0 192000

    59040 20070 38970 292000

    Yield on Investments : 7.97%

    The above statement is based on certain assumptions which are


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

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