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    Children Umang

    Uploaded by

    Sri Ram
    This document describes a whole life insurance plan from LIC of India that can be gifted to children. The plan involves investing Rs. 50,000 annually for 15 years. It then provides the child with Rs. 50,000 in annual lifetime tax-free income starting from ages 30-85, totaling Rs. 2.25-2.75 million. The pre-closed plan value at age 85 is approximately Rs. 1.75 million.

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    Download as PDF, TXT or read online from Scribd

    Children Umang

    Uploaded by

    Sri Ram
    15 views2 pages
    This document describes a whole life insurance plan from LIC of India that can be gifted to children. The plan involves investing Rs. 50,000 annually for 15 years. It then provides the child with Rs. 50,000 in annual lifetime tax-free income starting from ages 30-85, totaling Rs. 2.25-2.75 million. The pre-closed plan value at age 85 is approximately Rs. 1.75 million.

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    Umang

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    This document describes a whole life insurance plan from LIC of India that can be gifted to children. The plan involves investing Rs. 50,000 annually for 15 years. It then provides the child with Rs. 50,000 in annual lifetime tax-free income starting from ages 30-85, totaling Rs. 2.25-2.75 million. The pre-closed plan value at age 85 is approximately Rs. 1.75 million.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    15 views2 pages

    Children Umang

    Uploaded by

    Sri Ram
    This document describes a whole life insurance plan from LIC of India that can be gifted to children. The plan involves investing Rs. 50,000 annually for 15 years. It then provides the child with Rs. 50,000 in annual lifetime tax-free income starting from ages 30-85, totaling Rs. 2.25-2.75 million. The pre-closed plan value at age 85 is approximately Rs. 1.75 million.

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

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    A Whole Life Plan from LIC of India which could be Gifted to the Children to receive Lifetime Taxfree Income

    Yearly Investment = Rs.50,000 /- [ Rounded Off ] Lifetime Tax Free Yearly Income = 50,000

    Investment Period = 15 Years

    Present Age of the Child 15 16 17 18 19 20 21 22 23 24 25

    Annuity / Pension Starting Age 30 31 32 33 34 35 36 37 38 39 40

    Assumed Age of Preclosing the Plan 85 85 85 85 85 85 85 85 85 85 85

    No. of Years of Receipt of Annuity / Pension 55 54 53 52 51 50 49 48 47 46 45

    Sum of Annuity Received 2750000 2700000 2650000 2600000 2550000 2500000 2450000 2400000 2350000 2300000 2250000

    Approx Surr Value at Age 85

    Sum Assured 625000 625000 625000 625000 625000 625000 625000 625000 625000 625000 625000

    Bonus I - For the First 15 Years 468750 468750 468750 468750 468750 468750 468750 468750 468750 468750 468750

    Bonus II - From 16th Year to Preclosing Year 859375 843750 828125 812500 796875 781250 765625 750000 734375 718750 703125

    Sum Total 1953125 1937500 1921875 1906250 1890625 1875000 1859375 1843750 1828125 1812500 1796875

    90% of the Sum Total is the Surr. Value 1757813 1743750 1729688 1715625 1701563 1687500 1673438 1659375 1645313 1631250 1617188
    Summing Up of the Plan
    Investing 50,000/- per Year for 15 Years Only Kindly Call for a Plan Briefing:
    Gifting Your Son/Daughter Rs.50,000/- per Year for His/Her Lifetime, totally Taxfree
    Advicing Him/Her to get the Preclosed Value at his Age 85 or even earlier

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