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Example for Provision for Child Education aged one year

Age of Father is 27 years

Below given plan is a combination, provision for child's education. From the age of 19 there is regular money back for child’s higher education. In case of father’s death premium payment will stop and rest of benefits will be as it is.

Example for Provision for Child Education aged at one year Father’s age is 27 years.

 

Fin. Year

 

Risk Cover

 

to LIC Per Year

Returns

Ending

Age

(Natural Death)

PWB

to LIC Per Year

from LIC

31-03-2012

1

25,366

4,40,558

26141

0

31-03-2013

2

50,732

4,15,192

26141

0

31-03-2014

3

76,098

3,89,826

26141

0

31-03-2015

4

1,01,464

3,64,460

26141

0

31-03-2016

5

1,26,830

3,39,094

26141

0

31-03-2017

6

5,26,408

3,13,728

26141

0

31-03-2018

7

5,47,476

2,88,362

26141

0

31-03-2019

8

6,64,800

2,62,996

26141

0

31-03-2020

9

6,85,400

2,37,630

26141

0

31-03-2021

10

7,06,000

2,12,264

26141

0

31-03-2022

11

7,26,600

1,86,898

26141

0

31-03-2023

12

7,47,200

1,61,532

26141

0

31-03-2024

13

7,67,800

1,36,166

26141

0

31-03-2025

14

7,88,400

1,10,800

26141

0

31-03-2026

15

8,09,000

85,434

26141

0

31-03-2027

16

8,29,600

60,068

26141

0

31-03-2028

17

8,50,200

34,702

26141

0

31-03-2029

18

8,70,800

9,336

26141

0

31-03-2030

19

7,39,400

0

4668

254000

31-03-2031

20

7,52,000

0

4668

50000

31-03-2032

21

5,76,400

0

0

234000

31-03-2033

22

5,84,800

0

0

50000

31-03-2034

23

5,93,200

0

0

50000

31-03-2035

24

4,00,000

0

0

323200

31-03-2036

25

4,00,000

0

0

0

31-03-2037

26

4,00,000

0

0

0

31-03-2038

27

4,00,000

0

0

0

31-03-2039

28

4,00,000

0

0

0

31-03-2040

29

4,00,000

0

0

0

05-04-2040

29

4,00,000

0

0

0

                            Total Payment & Return from LIC

      479874

       961200

 

Key Assumptions:

Disclaimer: The figures presented in this entire illustration are indicative and solely for the purpose of understanding the possible benefits from the proposed insurance. The benefits are not guaranteed and the actual results may depend on the future performance of the insurer.

Yield on Investments (Pre Tax): 5.69 %

Income Tax Savings-As per Rules:

 

Projections:

Bonus: On applicable plans, last declared Interim Bonus has been considered for the purpose of projected Risk cover, Returns, Cash Value and Loan calculations

Terminal Bonus: On applicable plans Terminal Bonus has not been considered.

Loyalty Addition: Loyalty Addition has not been considered on applicable plans.

Disclaimer: Some data on this site is based on products and policies from Life Insurance Corporation of India and is used here as we work as Agents for LIC. Every care is taken to ensure that data provided is authentic. Customers are however requested to cross check with LIC as well. In the unlikely event of a discrepancy please do let us know. vandana@licindore.in