LIC RETIRE AND ENJOY PLAN

LIC PENSION PLAN

LIC RETIRE AND ENJOY PLAN

LIC Retire and Enjoy plan -LIC pension plan is a combination of endowment plans.


Benefit Illustrations for retire and enjoy plan

An example of SANDEEP MEENA who is purchasing LIC retirement plan with following details.

Sum Assured: Rs.15,05,000
Policy Term: 23 Years
Policy Purchase Year: 2016
Age: 35 Years
Yearly Premium: Rs. 59042/-

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 of Rs.59042/– p.a. from your own

funds till your age of 57 years. This proposal provides for

a high risk cover of Rs.1577240/– starting at age 35 and

Growing to Rs.3392270/– at age 57.

In the year 2039 when you will be 58 years of age, you

will start receiving annual tax free income every year till

70 years of your age. Income starts at Rs. 310034/-

per annum and increases by approximately 0 % every

year to take care of inflating costs of living. There is a

Provision of risk cover during this period too. In case of

death 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 57.In the event of any emergency or

financial difficulties,

there is a provision under this 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.Premiums are available for exemption under sec.80

CCE of

Income tax act up to Rs.150000/- per annum.

Disclaimer

  1. This plan is a combination of LIC endowment plans specially researched to meet the objective of securing a financially

Independent life for yourself and your spouse on retirement.

  1. The benefits shown in this presentation have been calculated on the basis of interim bonuses declared by LIC. Actual

results may deviate depending on the future bonuses declared by LIC.

  1. Loan calculation is done on the basis of present surrender value rates.

 Year-wise Death Claims given below.

Year Age Risk Cover Normal Risk Cover Accidental Premium Tax Saved Net Premium Amount Received
2016 35 1577240 3082240 59042 17093 41949 0
2017 36 1649480 3154480 58009 17093 40916 0
2018 37 1721720 3226720 58009 17093 40916 0
2019 38 1793960 3298960 58009 17093 40916 0
2020 39 1866200 3371200 58009 17093 40916 0
2021 40 1938440 3443440 58009 17093 40916 0
2022 41 2010680 3515680 58009 17093 40916 0
2023 42 2082920 3587920 58009 17093 40916 0
2024 43 2155160 3660160 58009 17093 40916 0
2025 44 2227400 3732400 58009 17093 40916 0
2026 45 2299640 3804640 58009 17093 40916 0
2027 46 2371880 3876880 58009 17093 40916 0
2028 47 2444120 3949120 58009 17093 40916 0
2029 48 2516360 4021360 58009 17093 40916 0
2030 49 2603650 4108650 58009 17093 40916 0
2031 50 2683415 4188415 58009 17093 40916 0
2032 51 2763180 4268180 58009 17093 40916 0
2033 52 2842945 4347945 58009 17093 40916 0
2034 53 2922710 4427710 58009 17093 40916 0
2035 54 3010000 4515000 58009 17093 40916 0
2036 55 3097290 4602290 58009 17093 40916 0
2037 56 3214680 4719680 58009 17093 40916 0
2038 57 3392270 4897270 58009 17093 40916 0
2039 58 3203790 4548790 50606 15182 35424 360640
2040 59 3023350 4218350 43951 13185 30766 357300
2041 60 2838680 3898680 38197 11459 26738 341550
2042 61 2651660 3586660 33068 9920 23148 334750
2043 62 2440110 3255110 28325 8498 19828 340320
2044 63 2222160 2927160 24119 7236 16883 329340
2045 64 2004000 2604000 20235 6070 14164 330960
2046 65 1794000 2294000 16650 4995 11655 334000
2047 66 1534400 1934400 13161 3948 9213 358800
2048 67 1240200 1540200 9756 2927 6829 383600
2049 68 866400 1066400 6431 1929 4502 413400
2050 69 453000 553000 3181 954 2227 433200
2051 70 0 0 0 0 0 453000
TOTAL  – –  –  1622920 479442 1143478 4770860

Summary of Presentation

Maximum Risk Cover Normal                                                                            3392270

Maximum Risk Cover Accidental                                                                      4897270

Total Premium Paid By Policy Holder                                                             1622920

Total Tax Saved                                                                                                       479442

Net Premium Paid By Policy Holder                                                                1143478

SB/Maturity Amount Receivable By Policy Holder From LIC                 4770860

Net Amount Received By Policy Holder                                                        4483180

Services that I offer

  • New LIC Policy Quotes and Completion
  • Complete guidance
  • Doorstep Premium Collection Service
  • Personalized Policy Recommendations
  • Renewal / Revival of Lapsed Policies
  • Human Life Value Calculation
  • Life Time SERVICE

FOR MORE INFORMATION PLEASE CONTACT -:

BASPA NAND PANCHOLI

CON.9891009400

 Emailbasupancholi@gmail.com

To know about LIC Plans please visit our website

www.licbestplan.in

Office Address:-25,KG,Marg,Jeevan Prakash Building.

LIC of India,Branch Unit-117.

3rd floor,C.P. New Delhi-110001.


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