1. Plan Name: New Bheema Gold. Table-Term: 179-20 Age: 25 years
2. Premium Paying Term: 20 yrs.
3. Yearly premium: Rs.24,468/-
4. Sum Assured: Rs.7 Lakhs.
For Normal Death: 7 lakhs.
Accident coverage (in case): 14 lakhs
5. The Policy Gains:
After 4th year you will get Rs.70,000
After 8th year you will get Rs.70,000
After 12th year you will get Rs.70,000
After 16th year you will get Rs.70,000
After 20th year you will get
Rs.4.5 lakhs +7 lakhs (Additional Bonus) =11.5 lakhs [Maturity Amount]
Gross Total =11.5 lakhs+2.8 lakhs (already you got [4*70,000]) = 14.3 lakhs
1. This is Minimum Quoted Amount, and this may increase. Surely there is no decrease in the Maturity Amount
2. This Policy applicable for whose age between 18-58, the above details are given for an example of age: 25 yrs.
1. Income Tax benefits for salaried peoples.
2. Based on 4th year and 8th year and 12th year and 16th year amount, you should possible to pay premium for forthcoming years.
3. Extendable Insurance Coverage for 10 more years upto the Age of 55 [50% of Sum
4.19% Extra Benefit than other Bonus Based plans. Because it’s a Loyalty Addition Plan.
1. Payments can be done
As yearly, you have to pay Rs.24468 once
As 2 installments, you have to pay Rs.12382 every 6 months
As 4 installments, you have to pay Rs.6265 every 3 months
As 12 installments, you have to pay Rs.2212 every month
2. No tax for the Bonus amount.[Every 4 year Amount].
3. The Bonus calculated based on the Sum Assured and LIC Income of every year.
Kindly revert back to me for any further clarifications.
V. Satheeshkumar M.C.A,
LIC Advisor, Mobile: 9952437644. Email:satheeshkumarv.mca.