It is that time of the year when many of us would be anxious to meet advance tax payment obligations and see if we can minimize our tax outgo. Although Finance Act 2021 has sought to simplify tax computation by, among other things, reducing the tax rates for those opting to forgo exemptions/deductions under various…
That change is the only constant over time may sound a bit trite to most of us. Yet the rate of change is changing so rapidly that we sometimes have to hark back to poets to make sense of the turmoil that is overtaking our lives. Following memorable lines from T. S. Eliot might be…
That change is the only constant over time may sound a bit trite to most of us. Yet the rate of change is changing so rapidly that we sometimes have to hark back to poets to make sense of the turmoil that is overtaking our lives. Following memorable lines from T. S. Eliot might be…
Deposit Insurance: Now that the Deposit Insurance & Credit Guarantee Corporation (DICGC), Amendment Bill 2021 has been promulgated, DICGC becomes liable to pay bank depositors when any direction, order or scheme is passed which prohibits the depositors of the insured bank from accessing their deposits. DICGC is required to pay the depositors the insured amount…
After hogging headlines for over two weeks, the 26th Conference of Parties (COP26) to the UN Framework Convention on Climate Change in Glasgow, where almost 200 countries came together to find ways to prevent global temperature rising beyond the critical threshold, has concluded. In terms of outcome, however, it is a case of mountains labouring…
Purchase Price = Rs. 25,00,000 + 1.8% GST = Rs. 25,45,000
Annuity Option = Annuity for Life
Pension depending on the Mode of Annuity | ||||
---|---|---|---|---|
Yearly | Half Yearly | Quarterly | Monthly | |
Rs. 2,30,550 | 1,12,375 | 55,494 | 18,361 |
Sum Assured | 1,00,00,000 | Age | 32 |
Policy Term | 30 |
First Year Premium | ||||
---|---|---|---|---|
Mode | Premium | GST ( @4.5 % ) | Total Premium | |
Yearly | 3,60,730 | 16,233 | 3,76,963 |
Second Year Onward Premium | ||||
---|---|---|---|---|
Mode | Premium | GST ( @2.25 % ) | Total Premium | |
Yearly | 3,60,730 | 8,116 | 3,68,846 |
Benefits Details | |
---|---|
Total Premium Paid (Approx) | 1,10,73,509 |
Minimum Risk Cover | 1,25,00,000 |
Maximum Risk Cover (Approx) | 4,58,10,000 |
Matruity (Approx) | 3,57,00,000 |
Post Matruity Risk Cover | 1,00,00,000 |
Maturity Break-up | |
---|---|
Sum Assured (A) | 1,00,00,000 |
Accumulated Bonus (Approx) (B) | 1,47,00,000 |
Final Addition Bonus (FAB) (Approx) (C) | 1,10,00,000 |
Matruity (Approx) (A+B+C) | 3,57,00,000 |
Sum Assured | 1,00,00,000 | Age | 30 |
Policy Term | 25 |
Premium | ||||
---|---|---|---|---|
Mode | Premium | GST ( @18 % ) | Total Premium | |
Yearly | 19,600 | 3,528 | 23,128 |
Maturity And Death Benefits | |
---|---|
Natural/Accident Death Benefit | 1,00,00,000 |
Maturity Benefit | 0 |