jeevan nidhi- pension plan

6
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 30.6 IT Slab Rate (%) Notional Cash Option TRA Amount 0 TRA Premium 0 CI Rider Amount PWB Premium Return of Purchase Price CI Premium 0 0 0 Sum Assured 1,000,000 Option* Accident Normal On Death Of Pensioner Premium Age 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

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Page 1: Jeevan Nidhi- Pension Plan

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

Page 2: Jeevan Nidhi- Pension Plan

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

Page 3: Jeevan Nidhi- Pension Plan

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

Page 4: Jeevan Nidhi- Pension Plan

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

Page 5: Jeevan Nidhi- Pension Plan

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

Page 6: Jeevan Nidhi- Pension Plan

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