- 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: ₹40,00,00 |
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.
