Jeevan sangam By.P.T.Patil ppt

JEEVAN SANGAM (PLAN 831)

PLAN TODAY FOR BETTER TOMORROW

PLAN WITHIN 90 DAYS

Minimum Entry Age 6 years (completed)Maximum Entry Age 50 years (nearer birthday)Mode of premium payment Single premium Minimum Maturity Sum Assured Rs.75,000/-( multiple of Rs. 10000/- only.)

Maximum Maturity Sum Assured No LimitPolicy Term 12 yearsSurrender Allowed (after 5 yrs with LA)Loan Allowed after 3 monthsBack dating allowed with no concession.Non Medical allowed as per rulesProposal Form No. 300 or 340



Maturity Sum Assured (M.S.A) chosen under the policy

Reduction in Tabular premium (per Rs. 1000/- Maturity Sum Assured)

Below Rs.2,00,000 NilRs.2,00,000 to Rs. 3,90,000 Rs. 15.00Rs.4,00,000 and above Rs. 20.00





If death happens before the commencement of risk, refund of Premium (excluding Service Tax & Extra) Minors: 6 to 8 years

If death happens within 5 years from DOC, then Risk Sum Assured ONLY is payable

If death happens after 5 years from DOC, then Risk Sum Assured + Loyalty Addition becomes payable


DEATH BENEFITS


Maturity Sum Assured + Loyalty Addition

LA is payable only for Policies which have completed 5-years

MATURITY BENEFIT



LOAN available after 3-monthsUp to Age:45, Loan amount is moreAbove Age: 45, Loan amount is less

SURRENDER available anytimeDuring 1st year: 70% of Premium paidAfter 1 year: 90% of Premium paidAfter 5 years: 90% of Premium paid + LA

OTHER FEATURES



INTERNAL RATE OF RETURN

FOR AGES UPTO 16 YEARS, IRR WORKS OUT TO 8.31 PERCENT

FOR AGES UPTO 16 YEARS, IRR WORKS OUT TO MORE THAN 10 PERCENT IF REBATE UNDER SEC 80C AND SEC 10 (10)D IS CONSIDERED

THE IRR WORKS OUT TO EVEN MORE HIGHER PERCENTAGE IF THE TERM INSURANCE COMPONENT IS TAKEN


SAMPLE ILLUSTRATION

AGE – 30 YEARS MATURITY SUM ASSURED – 1,00,00,000 SINGLE PREMIUM 47,75,500/- PLUS SERVICE TAX 147563/- TOTAL

49,23,063 RISK COVER FOR 12 YEARS – 4,97,55,000 (App) TERM INSURANCE PREMIUM FOR 4,95,00,000 FOR 12 YEARS – Rs. 73,418/-

p.a. TOTAL PREMIUM PAYABLE FOR 12 YEARS – Rs. 8,81,016/- IGNORING THE PRESENT VALUE, THE NET INVESTMENT FOR THE

PROPOSER – Rs. 40,42,04OTAL7/-


SAMPLE ILLUSTRATION (CONTINUED)

ASSUMING BONUS RATE @ Rs. 10/- p.a., THE LIKELY LOYALTY ADDITION ON MATURITY WILL BE 10 X 12 = Rs. 120/- per ‘000 SA

FOR MATURITY SA OF 1,00,00,000/-, THE LIKELY LOYALTY ADDITION ON MATURITY WILL BE 120 x 10000 = Rs. 12,00,000/-

THE TOTAL MATURITY AMOUNT IN THIS CASE WILL BE Rs. 1,12,00,000/- (1,00,00,000+12,00,000



HIS TOTAL INVESTMENT – Rs. 49,23,063/-

HIS NET INVESTMENT (less TERM INSURANCE) – Rs. 40,42,047/-

HIS TAX FREE RETURNS ON MATURITY – Rs. 1,12,00,000/-



HIS TOTAL INVESTMENT – Rs. 49,23,063/-

HIS NET INVESTMENT (less TERM INSURANCE) – Rs. 40,42,047/-

MAXIMUM PREMIUM QUALIFY U/S 80C

HIS TAX FREE RETURNS ON MATURITY – Rs. 1,12,00,000/-


AGEAS ON

DATERISK COVER SURRENDER LOAN

30 15/3/2015 49755000 3342850 1838500

31 15/3/2016 49755000 4064000 2235250

32 15/3/2017 49755000 4297950 2363750

33 15/3/2018 49755000 4653000 2559250

34 15/3/2019 49755000 4957000 3470000

35 15/3/2020 50755000 5298000 3708500

36 15/3/2021 50995000 5684000 3978750

37 15/3/2022 51235000 6121000 4896750

38 15/3/2023 51475000 6667000 5333500

39 15/3/2024 51715000 7263000 5810500

40 15/3/2025 51925000 7913000 7121750

41 15/3/2026 52245000 8624000 7761500



Are You Looking At Saving

100% TaxesOf Your Company & The Directors

JEEVAN SANGAM Is a Better Solution Under

EMPLOYR EMPLOYEE SCHEME

Buy your tomorrows today

Save Tax under E/E Scheme

TAX IMPACT EXAMPLE> THERE ARE TWO PARTIES INVOLVED IN THE TRANSACTIONONE IS EMPLOYEE ANOTHER IS EMPLOYEREXAMPLEPREM AMT IS RS. 1,00,00,000 EMPLOYER EMPLOYEE(-) 1,00,00,000 AS BUSINESS (+) 1,00,00,000 AS PERQS EXPENSES U/S 37(1) U/S 17 (2) I.TAX @ 30%

EMPLOYER CAN PAY I.TAX ON BEHALF OF THE EMPLOYEEU/S 192 (1A) ON PERQS. U/S 17 (2)HENCE THE TAX LIABILITY SHIFTED TO EMPLOYER (-)30,00,000 -------------------- RS. 30,OO,OOONOW TAX ON TAX ALSO WILL BE PAYABLE BY EMPLOYER 9,00,OOO AND THIS AMT CAN NOT BE CLAIMED U/S 37(1)


EXAMPLE:-

IF WE DON’T TAKE THE POLICY UNDER THE SCEME PROFIT OF THE COMPANY WOULD HAVE INCREASED BY RS. 1,30,00,000

I. TAX WOULD HAVE BEEN RS. 39,00,000 NET PROFIT WOULD HAVE BEEN INCRESED BY RS. 91,00,000AND IF THE COMPANY DECLARES THIS AMT AS DIVIDEND AGAIN DIVIDEND DISTRIBTION TAX @16.6% RS.15,10,600TOTAL TAX LIABILITY OF CO. WILL BE (3900000+1510600)= 5410600WHILE WE HAVE PAID ONLY 900000

NET SAVING IS>Rs.45,10,600/-

BUT WHY SHOULD EMPLOYER DO IT?


sole proprietor and his employeesA partnership firm and it’s employeesA body corporate and it’s employeesAny other legal entity like co*operative body, a trust or a mutual society and their employeesCompany and it’s Directors-provided the Directors draws the salary from the companyFollowing are few more situations where Employer - Employee relation can be created-Wife can be an employee of the husband or vice versaChildren could be the employees of father /mother or vice versaSibling also can be the employees of other siblingsSon –in –Law. Daughter –in-Law, Brother, Sisters, Major and Minor Children etc

WHO CAN TAKE THE POLICY


CREATION OF IRREVOCABLE TRUST THROUGH LIFE INSURANCE CALLED

MARRIED WOMENS PROPERTY ACT INSURANCE

PLANNING TO INSURE YOUR BUSINESS


Flexibility to start at any stageDisputes settlementEstate ProtectionTax AdvantageNo changes in LifestyleProtection against CreditorsIncome ProtectionProfessionalIndemnityFinancial Protection Solutionme Protection

MWP Policy Provides


OBJECTIONS COUNTERED

1. I DON’T NEED INSURANCE COVER

2. I NEED ONLY RETURNS

3. I NEED LIQUIDITY

4. HOW IT IS BETTER THAN FIXED DEPOSITS?


SANGAM V/S BANK FIXED DEPOSITE

SUPPOSE A PERSON AGED 35 YEARS HAS RS. 1,00,00,000/- AS BANK FIXED DEPOSIT

AS PER THE CURRENT BANK RATES, IT IS LIKELY TO GET DOUBLED IN 9 YEARS

THE INTEREST PORTION IS TAXABLE TO THE TUNE OF 30%

HIS TOTAL BENEFIT WILL ONLY BE 1,70,00,000/- AT THE END OF 9 YEARS


SANGAM VS BANK FIXED DEPOSITS

SUPPOSE HE INVESTS Rs.1,70,00,000/- FOR 3 MORE YEARS @ 8% P.A.

HIS TOTAL RETURNS NET OF TAX AT THE END OF 12 YEARS WILL BE Rs. 1,98,56,000/-

IMAGINE WHAT HE WOULD HAVE GOT AT THE END OF 12 TH YEAR, IF HE HAD INVESTED Rs. 1,02,74,980 IN JEEVAN SANGAM!!


SANGAM VS BANK FIXED DEPOSITS

TAX FREE MATURITY BENEFIT OF Rs. 2,24,00,000 INSURANCE COVER OF Rs. 10,36,70,000/- FOR A PERIOD OF 12

YEARS SAVING OF RS. 2,02,548/- P.A. TOWARDS TERM ASSURANCE TOTAL SAVINGS IN TERM ASSURANCE PREMIUM IN 12 YEARS –

RS.24,30,580/- ON MATURITY, HE GETS RS. 26,00,000/- MORE THAN FD TOTAL EXTRA BENEFIT – RS.50,30,580/-


SEGMENTS

THOSE WHO HAVE AVAILED HOUSING LOANS/BUSINESS LOANS ETC

BY INVESTING 10% OF THE LOAN AMOUNT, THEIR LIFE IS COVERED FOR THE FULL LOAN AMOUNT FOR 12 YEARS

AFTER INVESTMENT IN SHAGUN, THEY CAN FURTHER AVAIL LOAN AFTER 3 MONTHS


SEGMENTS

ALL CUSTOMERS WHO ARE INTERESTED IN SINGLE PREMIUM PLANS

CLIENTS WHO WANT THEIR MONEY BACK IN TERM INSURANCE PLANS

CLENTS WHO WANT TO AVAIL SEC 80C BENEFITS BY PAYING A SINGLE PREMIUM

PARENTS WHO WISH TO SECURE A GUARANTEED RETURN FOR CHILDREN


SANGAM – THE BEST INVESTMENT

80C REBATE & U/S 37(1) EXEMPTION UNDER 10 (10)D NO FLUCTUATION OF INTEREST RATES AS IN BANKS HIGH INSURANCE COVER LIQUIDITY COMPETITIVE RETURNS FOR LOWER AGES SAVINGS IN TERM INSURANCE PREMIUM FOR ALL AGES ESPECIALLY

HIGHER AGES THE CLOSE-ENDED PLAN FROM THE MOST TRUSTED INSURER


THANK YOU


PRESENTED BY P.T.PATIL DO LIC HUBLI 9448133179

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Jeevan sangam By.P.T.Patil ppt