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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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    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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    24 views2 pages

    Rad 00 DC6

    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


    Mr. Neeraj

    Name :
    Sum

    Age

    : 100000

    : 34

    Spouse's Age : 32

    Term : 20
    Risk Cover of Surviving Life

    Report Date

    Risk Cover

    : 01/02/2011

    Year

    Age

    Normal

    Accident

    Normal

    Accident

    Annual
    Premium

    Tax
    Saved

    Net
    Premium

    Returns
    from L.I.C

    2011

    34

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2012

    35

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2013

    36

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2014

    37

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2015

    38

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2016

    39

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2017

    40

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2018

    41

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2019

    42

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2020

    43

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2021

    44

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2022

    45

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2023

    46

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2024

    47

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2025

    48

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2026

    49

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2027

    50

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2028

    51

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2029

    52

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2030

    53

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2031

    54

    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


    Mr. Neeraj

    Name :
    Sum

    Age

    : 100000

    : 34

    Spouse's Age : 32

    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

    Year

    Age

    Normal

    Accident

    Normal

    Accident

    Annual
    Premium

    Tax
    Saved

    Net
    Premium

    Returns
    from L.I.C

    2011

    34

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2012

    35

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2013

    36

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2014

    37

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2015

    38

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2016

    39

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2017

    40

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2018

    41

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2019

    42

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2020

    43

    100000

    100000

    100000

    100000

    5904

    2007

    3897

    2021

    44

    148400

    148400

    100000

    2022

    45

    152800

    152800

    2023

    46

    157200

    157200

    2024

    47

    161600

    161600

    2025

    48

    167000

    167000

    2026

    49

    171900

    171900

    2027

    50

    176800

    176800

    2028

    51

    181700

    181700

    2029

    52

    186600

    186600

    2030

    53

    192000

    192000

    2031

    54

    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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