jeevan sangam by.p.t.patil ppt
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JEEVAN SANGAM (PLAN 831)
PLAN TODAY FOR BETTER TOMORROW
PLAN WITHIN 90 DAYS
Minimum Entry Age 6 years (completed)Maximum Entry Age 50 years (nearer birthday)Mode of premium payment Single premium Minimum Maturity Sum Assured Rs.75,000/-( multiple of Rs. 10000/- only.)
Maximum Maturity Sum Assured No LimitPolicy Term 12 yearsSurrender Allowed (after 5 yrs with LA)Loan Allowed after 3 monthsBack dating allowed with no concession.Non Medical allowed as per rulesProposal Form No. 300 or 340
JEEVAN SANGAM (PLAN 831)
PLAN TODAY FOR BETTER TOMORROW
Maturity Sum Assured (M.S.A) chosen under the policy
Reduction in Tabular premium (per Rs. 1000/- Maturity Sum Assured)
Below Rs.2,00,000 NilRs.2,00,000 to Rs. 3,90,000 Rs. 15.00Rs.4,00,000 and above Rs. 20.00
JEEVAN SANGAM (PLAN 831)
PLAN TODAY FOR BETTER TOMORROW
JEEVAN SANGAM (PLAN 831)
PLAN TODAY FOR BETTER TOMORROW
If death happens before the commencement of risk, refund of Premium (excluding Service Tax & Extra) Minors: 6 to 8 years
If death happens within 5 years from DOC, then Risk Sum Assured ONLY is payable
If death happens after 5 years from DOC, then Risk Sum Assured + Loyalty Addition becomes payable
JEEVAN SANGAM (PLAN 831)
DEATH BENEFITS
PLAN TODAY FOR BETTER TOMORROW
Maturity Sum Assured + Loyalty Addition
LA is payable only for Policies which have completed 5-years
MATURITY BENEFIT
JEEVAN SANGAM (PLAN 831)
PLAN TODAY FOR BETTER TOMORROW
LOAN available after 3-monthsUp to Age:45, Loan amount is moreAbove Age: 45, Loan amount is less
SURRENDER available anytimeDuring 1st year: 70% of Premium paidAfter 1 year: 90% of Premium paidAfter 5 years: 90% of Premium paid + LA
OTHER FEATURES
PLAN TODAY FOR BETTER TOMORROW
JEEVAN SANGAM (PLAN 831)
INTERNAL RATE OF RETURN
FOR AGES UPTO 16 YEARS, IRR WORKS OUT TO 8.31 PERCENT
FOR AGES UPTO 16 YEARS, IRR WORKS OUT TO MORE THAN 10 PERCENT IF REBATE UNDER SEC 80C AND SEC 10 (10)D IS CONSIDERED
THE IRR WORKS OUT TO EVEN MORE HIGHER PERCENTAGE IF THE TERM INSURANCE COMPONENT IS TAKEN
PLAN TODAY FOR BETTER TOMORROW
SAMPLE ILLUSTRATION
AGE – 30 YEARS MATURITY SUM ASSURED – 1,00,00,000 SINGLE PREMIUM 47,75,500/- PLUS SERVICE TAX 147563/- TOTAL
49,23,063 RISK COVER FOR 12 YEARS – 4,97,55,000 (App) TERM INSURANCE PREMIUM FOR 4,95,00,000 FOR 12 YEARS – Rs. 73,418/-
p.a. TOTAL PREMIUM PAYABLE FOR 12 YEARS – Rs. 8,81,016/- IGNORING THE PRESENT VALUE, THE NET INVESTMENT FOR THE
PROPOSER – Rs. 40,42,04OTAL7/-
PLAN TODAY FOR BETTER TOMORROW
SAMPLE ILLUSTRATION (CONTINUED)
ASSUMING BONUS RATE @ Rs. 10/- p.a., THE LIKELY LOYALTY ADDITION ON MATURITY WILL BE 10 X 12 = Rs. 120/- per ‘000 SA
FOR MATURITY SA OF 1,00,00,000/-, THE LIKELY LOYALTY ADDITION ON MATURITY WILL BE 120 x 10000 = Rs. 12,00,000/-
THE TOTAL MATURITY AMOUNT IN THIS CASE WILL BE Rs. 1,12,00,000/- (1,00,00,000+12,00,000
PLAN TODAY FOR BETTER TOMORROW
SAMPLE ILLUSTRATION (CONTINUED)
HIS TOTAL INVESTMENT – Rs. 49,23,063/-
HIS NET INVESTMENT (less TERM INSURANCE) – Rs. 40,42,047/-
HIS TAX FREE RETURNS ON MATURITY – Rs. 1,12,00,000/-
PLAN TODAY FOR BETTER TOMORROW
SAMPLE ILLUSTRATION (CONTINUED)
HIS TOTAL INVESTMENT – Rs. 49,23,063/-
HIS NET INVESTMENT (less TERM INSURANCE) – Rs. 40,42,047/-
MAXIMUM PREMIUM QUALIFY U/S 80C
HIS TAX FREE RETURNS ON MATURITY – Rs. 1,12,00,000/-
PLAN TODAY FOR BETTER TOMORROW
AGEAS ON
DATERISK COVER SURRENDER LOAN
30 15/3/2015 49755000 3342850 1838500
31 15/3/2016 49755000 4064000 2235250
32 15/3/2017 49755000 4297950 2363750
33 15/3/2018 49755000 4653000 2559250
34 15/3/2019 49755000 4957000 3470000
35 15/3/2020 50755000 5298000 3708500
36 15/3/2021 50995000 5684000 3978750
37 15/3/2022 51235000 6121000 4896750
38 15/3/2023 51475000 6667000 5333500
39 15/3/2024 51715000 7263000 5810500
40 15/3/2025 51925000 7913000 7121750
41 15/3/2026 52245000 8624000 7761500
SAMPLE ILLUSTRATION (CONTINUED)
PLAN TODAY FOR BETTER TOMORROW
Are You Looking At Saving
100% TaxesOf Your Company & The Directors
JEEVAN SANGAM Is a Better Solution Under
EMPLOYR EMPLOYEE SCHEME
Buy your tomorrows today
Save Tax under E/E Scheme
TAX IMPACT EXAMPLE> THERE ARE TWO PARTIES INVOLVED IN THE TRANSACTIONONE IS EMPLOYEE ANOTHER IS EMPLOYEREXAMPLEPREM AMT IS RS. 1,00,00,000 EMPLOYER EMPLOYEE(-) 1,00,00,000 AS BUSINESS (+) 1,00,00,000 AS PERQS EXPENSES U/S 37(1) U/S 17 (2) I.TAX @ 30%
EMPLOYER CAN PAY I.TAX ON BEHALF OF THE EMPLOYEEU/S 192 (1A) ON PERQS. U/S 17 (2)HENCE THE TAX LIABILITY SHIFTED TO EMPLOYER (-)30,00,000 -------------------- RS. 30,OO,OOONOW TAX ON TAX ALSO WILL BE PAYABLE BY EMPLOYER 9,00,OOO AND THIS AMT CAN NOT BE CLAIMED U/S 37(1)
PLAN TODAY FOR BETTER TOMORROW
EXAMPLE:-
IF WE DON’T TAKE THE POLICY UNDER THE SCEME PROFIT OF THE COMPANY WOULD HAVE INCREASED BY RS. 1,30,00,000
I. TAX WOULD HAVE BEEN RS. 39,00,000 NET PROFIT WOULD HAVE BEEN INCRESED BY RS. 91,00,000AND IF THE COMPANY DECLARES THIS AMT AS DIVIDEND AGAIN DIVIDEND DISTRIBTION TAX @16.6% RS.15,10,600TOTAL TAX LIABILITY OF CO. WILL BE (3900000+1510600)= 5410600WHILE WE HAVE PAID ONLY 900000
NET SAVING IS>Rs.45,10,600/-
BUT WHY SHOULD EMPLOYER DO IT?
PLAN TODAY FOR BETTER TOMORROW
sole proprietor and his employeesA partnership firm and it’s employeesA body corporate and it’s employeesAny other legal entity like co*operative body, a trust or a mutual society and their employeesCompany and it’s Directors-provided the Directors draws the salary from the companyFollowing are few more situations where Employer - Employee relation can be created-Wife can be an employee of the husband or vice versaChildren could be the employees of father /mother or vice versaSibling also can be the employees of other siblingsSon –in –Law. Daughter –in-Law, Brother, Sisters, Major and Minor Children etc
WHO CAN TAKE THE POLICY
PLAN TODAY FOR BETTER TOMORROW
CREATION OF IRREVOCABLE TRUST THROUGH LIFE INSURANCE CALLED
MARRIED WOMENS PROPERTY ACT INSURANCE
PLANNING TO INSURE YOUR BUSINESS
PLAN TODAY FOR BETTER TOMORROW
Flexibility to start at any stageDisputes settlementEstate ProtectionTax AdvantageNo changes in LifestyleProtection against CreditorsIncome ProtectionProfessionalIndemnityFinancial Protection Solutionme Protection
MWP Policy Provides
PLAN TODAY FOR BETTER TOMORROW
OBJECTIONS COUNTERED
1. I DON’T NEED INSURANCE COVER
2. I NEED ONLY RETURNS
3. I NEED LIQUIDITY
4. HOW IT IS BETTER THAN FIXED DEPOSITS?
PLAN TODAY FOR BETTER TOMORROW
SANGAM V/S BANK FIXED DEPOSITE
SUPPOSE A PERSON AGED 35 YEARS HAS RS. 1,00,00,000/- AS BANK FIXED DEPOSIT
AS PER THE CURRENT BANK RATES, IT IS LIKELY TO GET DOUBLED IN 9 YEARS
THE INTEREST PORTION IS TAXABLE TO THE TUNE OF 30%
HIS TOTAL BENEFIT WILL ONLY BE 1,70,00,000/- AT THE END OF 9 YEARS
PLAN TODAY FOR BETTER TOMORROW
SANGAM VS BANK FIXED DEPOSITS
SUPPOSE HE INVESTS Rs.1,70,00,000/- FOR 3 MORE YEARS @ 8% P.A.
HIS TOTAL RETURNS NET OF TAX AT THE END OF 12 YEARS WILL BE Rs. 1,98,56,000/-
IMAGINE WHAT HE WOULD HAVE GOT AT THE END OF 12 TH YEAR, IF HE HAD INVESTED Rs. 1,02,74,980 IN JEEVAN SANGAM!!
PLAN TODAY FOR BETTER TOMORROW
SANGAM VS BANK FIXED DEPOSITS
TAX FREE MATURITY BENEFIT OF Rs. 2,24,00,000 INSURANCE COVER OF Rs. 10,36,70,000/- FOR A PERIOD OF 12
YEARS SAVING OF RS. 2,02,548/- P.A. TOWARDS TERM ASSURANCE TOTAL SAVINGS IN TERM ASSURANCE PREMIUM IN 12 YEARS –
RS.24,30,580/- ON MATURITY, HE GETS RS. 26,00,000/- MORE THAN FD TOTAL EXTRA BENEFIT – RS.50,30,580/-
PLAN TODAY FOR BETTER TOMORROW
SEGMENTS
THOSE WHO HAVE AVAILED HOUSING LOANS/BUSINESS LOANS ETC
BY INVESTING 10% OF THE LOAN AMOUNT, THEIR LIFE IS COVERED FOR THE FULL LOAN AMOUNT FOR 12 YEARS
AFTER INVESTMENT IN SHAGUN, THEY CAN FURTHER AVAIL LOAN AFTER 3 MONTHS
PLAN TODAY FOR BETTER TOMORROW
SEGMENTS
ALL CUSTOMERS WHO ARE INTERESTED IN SINGLE PREMIUM PLANS
CLIENTS WHO WANT THEIR MONEY BACK IN TERM INSURANCE PLANS
CLENTS WHO WANT TO AVAIL SEC 80C BENEFITS BY PAYING A SINGLE PREMIUM
PARENTS WHO WISH TO SECURE A GUARANTEED RETURN FOR CHILDREN
PLAN TODAY FOR BETTER TOMORROW
SANGAM – THE BEST INVESTMENT
80C REBATE & U/S 37(1) EXEMPTION UNDER 10 (10)D NO FLUCTUATION OF INTEREST RATES AS IN BANKS HIGH INSURANCE COVER LIQUIDITY COMPETITIVE RETURNS FOR LOWER AGES SAVINGS IN TERM INSURANCE PREMIUM FOR ALL AGES ESPECIALLY
HIGHER AGES THE CLOSE-ENDED PLAN FROM THE MOST TRUSTED INSURER
PLAN TODAY FOR BETTER TOMORROW
THANK YOU
PLAN TODAY FOR BETTER TOMORROW
PRESENTED BY P.T.PATIL DO LIC HUBLI 9448133179
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