jeevan nidhi- pension plan
TRANSCRIPT
Insurance Advisor
K.R.Bhatt
At & Post Kovaya Tal- Rajula, Dist- Amreli
Mobile: 9427743764
Email: [email protected]
169 - Jeevan Nidhi
XYZ
DOB - Age 01/01/1982 - 30 Quotation No 833 Date 16/07/2011
Pension Mode Yearly
Premium Mode Yearly
Based On Sum Assured
Pension 0
Premium 31,781
3850000
30.6IT Slab Rate (%)
Notional Cash Option
TRA Amount 0TRA Premium0
CI Rider Amount
PWB Premium
Return of Purchase Price
CI Premium0 0
0
Sum Assured 1,000,000
Option*
AccidentNormal
On Death Of PensionerPremiumAge Year Premium (After
Tax)
30 2011 31,781 28,721 10,50,000 2,050,000
31 2012 31,781 28,721 11,00,000 2,100,000
32 2013 31,781 28,721 11,50,000 2,150,000
33 2014 31,781 28,721 12,00,000 2,200,000
34 2015 31,781 28,721 12,50,000 2,250,000
35 2016 31,781 28,721 12,98,000 2,298,000
36 2017 31,781 28,721 13,46,000 2,346,000
37 2018 31,781 28,721 13,94,000 2,394,000
38 2019 31,781 28,721 14,42,000 2,442,000
39 2020 31,781 28,721 14,90,000 2,490,000
40 2021 31,781 28,721 15,38,000 2,538,000
41 2022 31,781 28,721 15,86,000 2,586,000
42 2023 31,781 28,721 16,34,000 2,634,000
43 2024 31,781 28,721 16,82,000 2,682,000
44 2025 31,781 28,721 17,70,000 2,770,000
45 2026 31,781 28,721 18,38,000 2,838,000
46 2027 31,781 28,721 19,16,000 2,916,000
47 2028 31,781 28,721 19,84,000 2,984,000
48 2029 31,781 28,721 20,87,000 3,087,000
49 2030 31,781 28,721 22,70,000 3,270,000
50 2031 31,781 28,721 24,08,000 3,408,000
51 2032 31,781 28,721 25,46,000 3,546,000
52 2033 31,781 28,721 26,84,000 3,684,000
53 2034 31,781 28,721 28,22,000 3,822,000
54 2035 31,781 28,721 29,60,000 3,960,000
The Premium paid will be excempted from Income Tax under Sec 80C of Income Tax Act 1961.
The above statements are based on certain basic assumptions which are liable to change any time according to LIC/Govt.
Policies.
Insure today for better tomorrow
1
169 - Jeevan Nidhi
XYZ
DOB - Age 01/01/1982 - 30 Quotation No 833 Date 16/07/2011
Pension Mode Yearly
Premium Mode Yearly
Based On Sum Assured
Pension 0
Premium 31,781
3850000
30.6IT Slab Rate (%)
Notional Cash Option
TRA Amount 0TRA Premium0
CI Rider Amount
PWB Premium
Return of Purchase Price
CI Premium0 0
0
Sum Assured 1,000,000
Option*
55 2036 31,781 28,721 31,38,000 4,138,000
56 2037 31,781 28,721 33,06,000 4,306,000
57 2038 31,781 28,721 34,74,000 4,474,000
58 2039 31,781 28,721 36,52,000 4,652,000
59 2040 31,781 28,721 38,50,000 4,850,000
953,430Total 861,630
Without CommutationWith Commutation
Fund for paying Pension 38,50,00025,66,667
012,83,333Lumpsum Receivable
The tables below illustrate the amount of pension you can get if annuity rates of Plan 170 -
Jeevan Akshay III have been applied
:
:
:
:
15 years and Life Thereafter
10 years and Life Thereafter
5 years and Life Thereafter
Life Long Annuity
D
C
B
A
Pension Option Available
E
:
:
:
:
Pension For Life And 50% to the spouse
on death
Return of Purchase Price
Increasing at 3% p.a.
20 years and Life Thereafter
H
F
G
Pension Amount Available (Without Commutation)
Pension Option Available
Yearly
Half Yearl
Quarterly
Monthly
Pension
Mode
342265 283360 299530 336105 348040 358435 366135 369600
83978 69541 73872 82727 85518 87924 89561 90331
28041 23228 24704 27624 28554 29324 29870 30126
168438 139178 147840 165550 171518 176330 179795 181335
FEDCBA HG
The Premium paid will be excempted from Income Tax under Sec 80C of Income Tax Act 1961.
The above statements are based on certain basic assumptions which are liable to change any time according to LIC/Govt.
Policies.
Insure today for better tomorrow
2
169 - Jeevan Nidhi
XYZ
DOB - Age 01/01/1982 - 30 Quotation No 833 Date 16/07/2011
Pension Mode Yearly
Premium Mode Yearly
Based On Sum Assured
Pension 0
Premium 31,781
3850000
30.6IT Slab Rate (%)
Notional Cash Option
TRA Amount 0TRA Premium0
CI Rider Amount
PWB Premium
Return of Purchase Price
CI Premium0 0
0
Sum Assured 1,000,000
Option*
Pension Amount Available (With Commutation)
Pension Option Available
18694 15486 16469 18416 19036 19549 19913 20084
55985 46360 49248 55151 57012 58616 59707 60220
112292 92785 98560 110367 114345 117553 119863 120890
228177 188907 199687 224070 232027 238957 244090 246400Yearly
Half Yearly
Quarterly
Monthly
Pension
ModeFEDCBA HG
For Plan 169
PLAN NAME : Jeevan Nidhi
GA : Guaranteed Additions @ Rs.50/- per thousand Sum assured for each completed year, for the first five
years.
SPFEATURES : The policy shall participate in profits of the Corporation from the 6th year onwards and shall
be entitled to receive bonuses declared as per the experience of the Corporation.
Benefit On Vesting :
On vesting Life Assured shall have an option to purchase annuity from Life Insurance Corporation of India or
from any other Life Insurance Company. If the Life Assured desires to purchase the annuity from other
company, he/she shall be required to inform the same to Life Insurance Corporation of India in writing three
months before the date of vesting. If purchased from LIC, then the type of annuity and annuity rate will be
that applicable at the time of vesting.
Option to commute up to 1/3rd of the amount available on vesting, which shall include the Sum Assured
under the Basic Plan together with accrued Guaranteed Additions, simple Reversionary Bonuses and
Terminal Bonus, if any.
Annuity as per the option selected: Annuity on the balance amount if commutation is exercised, otherwise
annuity on the full amount.
Annuity Options:
On vesting, the annuity instalment, mode of annuity payment and type of annuity which shall be made
available to the Life Assured (Annuitant) / Nominee will depend upon the then prevailing Immediate Annuity
plan of the Life Insurance Corporation of India and its terms and conditions.
Salient Features of the Plan
The Premium paid will be excempted from Income Tax under Sec 80C of Income Tax Act 1961.
The above statements are based on certain basic assumptions which are liable to change any time according to LIC/Govt.
Policies.
Insure today for better tomorrow
3
169 - Jeevan Nidhi
XYZ
DOB - Age 01/01/1982 - 30 Quotation No 833 Date 16/07/2011
Pension Mode Yearly
Premium Mode Yearly
Based On Sum Assured
Pension 0
Premium 31,781
3850000
30.6IT Slab Rate (%)
Notional Cash Option
TRA Amount 0TRA Premium0
CI Rider Amount
PWB Premium
Return of Purchase Price
CI Premium0 0
0
Sum Assured 1,000,000
Option*
equal to accident benefit sum assured will be payable over a period of 10 years in monthly instalments.
However, the payment of accident benefit will be subject to an overall limit of Rs.25 lakh under all policies of
the Life Assured with the Corporation taken together.
The disability due to accident should be total and such that the Life Assured is unable to carry out any work
to earn a living. Following disabilities due to accident are also covered –
a) irrevocable loss of the entire sight of both eyes or
b) amputation of both hands at or above the wrists or
c) amputation of both feet at or above ankles, or
d) amputation of one hand at or above the wrist and one foot at or above the ankle.
No benefit will be paid in case of accidental death or disability due to accident in case of
The Premium paid will be excempted from Income Tax under Sec 80C of Income Tax Act 1961.
The above statements are based on certain basic assumptions which are liable to change any time according to LIC/Govt.
Policies.
Insure today for better tomorrow
4
169 - Jeevan Nidhi
XYZ
DOB - Age 01/01/1982 - 30 Quotation No 833 Date 16/07/2011
Pension Mode Yearly
Premium Mode Yearly
Based On Sum Assured
Pension 0
Premium 31,781
3850000
30.6IT Slab Rate (%)
Notional Cash Option
TRA Amount 0TRA Premium0
CI Rider Amount
PWB Premium
Return of Purchase Price
CI Premium0 0
0
Sum Assured 1,000,000
Option*
The Premium paid will be excempted from Income Tax under Sec 80C of Income Tax Act 1961.
The above statements are based on certain basic assumptions which are liable to change any time according to LIC/Govt.
Policies.
Insure today for better tomorrow
5
169 - Jeevan Nidhi
XYZ
DOB - Age 01/01/1982 - 30 Quotation No 833 Date 16/07/2011
Pension Mode Yearly
Premium Mode Yearly
Based On Sum Assured
Pension 0
Premium 31,781
3850000
30.6IT Slab Rate (%)
Notional Cash Option
TRA Amount 0TRA Premium0
CI Rider Amount
PWB Premium
Return of Purchase Price
CI Premium0 0
0
Sum Assured 1,000,000
Option*
The Premium paid will be excempted from Income Tax under Sec 80C of Income Tax Act 1961.
The above statements are based on certain basic assumptions which are liable to change any time according to LIC/Govt.
Policies.
Insure today for better tomorrow
6