- This is a wonderful concept to enjoy a happy independent retired life for yourself and your spouse.
- Objective of this proposal is to provide financial security to your family.
- Provides a high risk cover which increases automatically with time.
- No premiums have to be paid from your own income when you starts receiving pension.
- Surrender and Loan facility is also available after 3 years.
- Double tax benefit of section 80 C & 10 (10 D).
- This combo gives high risk cover along with high tax free maturity.
An Illustration: An example for a person aged 35 years at the Basic Sum Assured (BSA) of 13 Lacs with a yearly premium budget of ₹ 50,000 only.
“RETIRE & ENJOY” Age at which pension is receivable Pension amount receivable ₹ 58 Years 1,80,000 59 Years 1,98,000 60 Years 2,17,000 61 Years 2,36,000 62 Years 2,55,000 63 Years 2,75,000 64 Years 2,95,000 65 Years 3,17,000 66 Years 3,45,000 67 Years 3,73,000 68 Years 4,07,000 69 Years 4,30,000 70 Years 4,53,000 Total Premium Paid: ₹11,40,000 Total Pension Received: ₹40,00,000
Disclaimer: “Retire & Enjoy” is a concept name only and it’s not a direct product of LIC, this is a combination of Plans and the Plans used for this combination are of LIC of INDIA.