Scribd Logo
Upload

Welcome to Scribd!

  • 2 views

    Pension Plus

    Uploaded by

    Dhaval Kotak

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Pension Plus

    Uploaded by

    Dhaval Kotak
    2 views3 pages

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    2 views3 pages

    Pension Plus

    Uploaded by

    Dhaval Kotak

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    Presentation specially prepared for

    Mr. Debajyoti Samal


    (Age: 44 yrs Retirement age: 64 yrs)

    LIC's New Pension Plus is a unique ULIP plan which offers several benefits focused on increasing your retirement corpus. This plan
    is excellent investment towards essential long term financial planning.

    New Pension Plus is in compliance with the current IRDA norms. New Pension Plus is truly an innovative plan that suits your needs just
    too perfectly. The features of the plan are mentioned below:

    l An Unique unit-linked pension plan which aims for building a corpus with systematic conversion into regular income on
    retirement after taking the annuity plan.
    l Suitable for the young generation for making the provision of better retired life.
    l The plan can be purchased either as a single premium or a regular premium payment. Under the regular premium, the
    premium shall be payable over the term of the policy.
    l Option to choose any one of the 4 funds i.e. Pension Bond Fund, Pension Secured Fund, Pension Balanced Fund and
    Pension Growth Fund.

    l Switching of Funds is allowed. Maximum of 4 switches can be done during the policy year. Any subsequent switch will
    charge Rs. 100 per switch

    l The guaranteed addition on regular premium ranges from 5% to 15.5%. On a single premium payable, it will be up to
    5% on completion of certain years.
    l Compulsory purchase of Annuity ensures channelization of funds for specific purpose.
    l Benefit on death - Higher of Fund Value OR 105% of Total Premiums Paid. Nominee has the option to receive the
    amount in lump Sum or as Annuity.

    l Policy can be surrendered during any time during the policy term. No surrender charges will be imposed after 5 yrs.

    l Life Assured has an option of Partial Withdrawal. This option will enable the Life Assured can raise the money for child’s
    Education or Marriage, for treatment of critical illness, for buying or constructing a new house. The partial withdrawal
    can be exercised after completion of 5 policy years. It can be availed 3 times during the entire term.

    l The Life Assured has an option to extend the Date of Vesting within the same policy with the same terms and
    conditions as the original policy.

    Conditions governing the Benefits Illustration shown in


    the subsequent pages Presented by:
    SAMIRKOTAK AND ASSOCIATES
    i) The benefits shown in the illustration on subsequent pages are calculated on the
    assumption that the Projected Investment Rate of Return that LICI will be able to earn Chief advisor- LIC of india div-4 912 br
    throughout the term of the policy will be 4% p.a. or 8% p.a., as the case may be. The 2nd Floor, Techniplex II, Jn. Veer Savarkar Flyover & S.V. Road,
    Projected Investment Rate of Return is not guaranteed.
    Goregaon(W), Mumbai - 400 062.
    ii) The annuities shown are based on the prevailing rates of L.I.C.'s Jeevan Akshay VII
    plan. The actual annuity payout will be as per the rates prevailing at the time of vesting.
    SAMIRKOTAK AND ASSOCIATES
    Chief advisor- LIC of india div-4 912 br

    2nd Floor, Techniplex II, Jn. Veer Savarkar Flyover & S.V. Road,
    Goregaon(W), Mumbai - 400 062.

    New Pension Plus Plan Presentation For Debajyoti Samal aged 44 years

    Mode of Premium : Yearly Date of Report : 04/06/2024


    Installment Premium : Rs. 120000 Retirement Age : 64

    Growth of Pension Growth Fund based on LIC'S performance in Child Fortune Plus

    Child Fortune Plus of LIC was launched on 01/11/2008. The units became NAV based (initial NAV of Rs 10) on
    01/11/2008. Current NAV of Growth Fund as on 04-Jun-2024. is Rs. 64.9566 Average annual growth is :
    12.07%
    If we hypothetically assume similar performance of LIC in managing the fund of New Pension Plus, then the
    benefits can be projected as under:

    End of Total Charges


    Policy Annual Premium Fund Cash Death Fund Admin Service
    Year Age Premium Paid Value Value Benefit Allocation Mgnt. Tax Total

    1 45 120000 120000 120582 113502 * 126000 8400 1554 684 1915 12553
    2 46 120000 240000 258308 252644 * 258308 4800 3324 660 1581 10365
    3 47 120000 360000 410257 406009 * 410257 4800 5276 636 1928 12640
    4 48 120000 480000 577896 575536 * 577896 4800 7430 612 2312 15153
    5 49 120000 600000 762842 762842 * 762842 4800 9806 588 2735 17929
    6 50 120000 720000 969143 969143 969143 3600 12453 0 2890 18942
    7 51 120000 840000 1196705 1196705 1196705 3600 15377 0 3416 22393
    8 52 120000 960000 1447720 1447720 1447720 3600 18602 0 3996 26199
    9 53 120000 1080000 1724604 1724604 1724604 3600 22160 0 4637 30397
    10 54 120000 1200000 2030025 2030025 2030025 3600 26085 0 5343 35028
    11 55 120000 1320000 2366923 2366923 2366923 3600 30414 0 6122 40136
    12 56 120000 1440000 2738542 2738542 2738542 3600 35189 0 6982 45771
    13 57 120000 1560000 3148460 3148460 3148460 3600 40456 0 7930 51986
    14 58 120000 1680000 3600624 3600624 3600624 3600 46266 0 8976 58842
    15 59 120000 1800000 4099389 4099389 4099389 3600 52675 0 10129 66404
    16 60 120000 1920000 4649557 4649557 4649557 3600 59744 0 11402 74746
    17 61 120000 2040000 5256426 5256426 5256426 3600 67542 0 12806 83947
    18 62 120000 2160000 5925839 5925839 5925839 3600 76143 0 14354 94097
    19 63 120000 2280000 6664243 6664243 6664243 3600 85632 0 16062 105293
    20 64 120000 2400000 7478747 7478747 7478747 3600 96097 0 17946 117643

    * If surrendered at this stage then normal surrender charges will be deducted from this amount.

    ## The above illustration is purely indicative. The fund management of New Pension Plus is independent of Child Fortune Plus
    and therefore New Pension Plus results can vary significantly.

    ## The past performance is not indication of future returns. Sustainance of such growth in future is dependant on market
    conditions and hence cannot be guaranteed.

    * For private circulation only


    SAMIRKOTAK AND ASSOCIATES
    Chief advisor- LIC of india div-4 912 br

    2nd Floor, Techniplex II, Jn. Veer Savarkar Flyover & S.V. Road,
    Goregaon(W), Mumbai - 400 062.

    New Pension Plus Plan Presentation For Debajyoti Samal aged 44 years

    Pension Details : from year 2045


    Annuity Option : F-For life with return of purchase price on death
    With 60% Commutation of Rs.4487248 Without Commutation

    Purchase Purchase
    Price Mly. Qly. Hly. Yly. Price Mly. Qly. Hly. Yly.
    2991499 16857 51042 103356 212097 7478747 42143 127606 258391 530243
    NOTE :- If the Unit Fund is not sufficient to purchase the Annuity plan then Fund Value will be payable in Lumpsum.

    * For private circulation only

    You might also like