LIC Jeevan Vriddhi new single premium plan

LIC Jeevan Vriddhi Insurance Plan is a single premium plan wherein the risk cover is a multiple of premium chosen by you. On maturity this plan offers a Guaranteed Maturity Sum Assured and Loyalty Addition, if any.
Jeevan Vriddhi combines a risk cover (five times the premium), tax benefits under Sec 80C, guaranteed maturity amount, one time payment, liquidity (loans available after 1 year) and also tax free maturity amount. And not to forget a possible return of 12% over the 10 year term
Key Features of LIC Vriddhi Insurance Plan:
1) This is Single Premium Plan. No need to worry about paying premium every year.
2) Benefit is enjoyed by policy holder for 10 years.
3) In case of death of the Life Insured within the policy tenure, Sum Assured is 5 times the premium paid.
4) On policy Maturity, Guaranteed Maturity sum is assured (approx double the premium paid).
5) Loan Upto 90% of premium paid is available
6) Higher Return of upto 12% over 10 year term


visit here for more details

Service tax rate raised from 10% to 12%

Indirect Taxes:


1. Standard rate of excise duty to be raised from 10% to 12%, merit rate from 5% to 6% and the lower merit rate from 1% to 2% with few exemptions.
2. Excise duty on large cars also proposed to be enhanced.
3. Service tax rate raised from 10% to 12%




http://incometaxreturnindia.in/Highlights-of-Budget-2012.htm

Rajiv Gandhi Equity Saving Scheme

New Investment upto Rs 50,000 in equity.


Rajiv Gandhi Equity Saving Scheme to allow for income tax deduction of 50% to new retail investors (whose annual Income is below Rs 10 lakh), who invest upto Rs 50,000 directly in equities. The scheme will have a lock-in period of 3 years


Other highlights of Income Tax (Direct Tax) visit here

Income Tax Rates 2012

http://incometaxreturnindia.in/Income_tax_rates_2013_2014.htm

Income Tax Rates/Slab for Assessment Year 2013-14 (Previous Year 2012-13)	Rate(%age)
Up to 2,00,000 Up to 2,00,000 (for women) Up to 2,500,000 (for resident individual of 60 years till 80 years)	NIL
200,001 – 5,00,000Up to 500,000 (for resident individual of 80 years and above, Tax is nil)	10Nil
5,00,001 – 10,00,000	20
10,00,001 upwards	30

Highlights of Budget 2012.htm

Here are some of the salient features and highlights of the Budget 2012: 1. Direct Taxes: A) Income Tax Rates/ Income Tax Slab -20121. Exemption limit for the general category of individual taxpayers proposed to be enhanced from Rs 1,80,000 to Rs 2,00,000. 2. Upper limit of 20% tax slab proposed to be raised from Rs 8 lakh to Rs 10 lakh. 3.Proposed to allow individual tax payers, a deduction of upto Rs 10,000 for interest from savings bank accounts. 4. Senior citizens not having income from business proposed to be exempted from payment  of advance tax.

http://incometaxreturnindia.in/Highlights-of-Budget-2012.htm

HRA Calculator

Download HRA calculator here

LIC Jeevan Vriddhi Queries

Should I opt for the policy?                                          
Reply:  Yes, because of
a) the high return this policy offer.
b) tax free return 
Scenario 1: If you are in 30% tax slab and you invest Rs 1,00,000/- in this plan:
You will save Rs 30,000/- as Income tax benefit. So your net investment becomes Rs 70,000/- and on which you are getting Rs 2,21,651 which is 100% Income tax free so the net yield in this plan is more than 12%.
Scenario 2: If you are in 30% tax slab and your Rs 1 lac limit of secton 80 C is  already used:
It is great investment for you, as you have already invested in banks where you have to pay the Income taxes on maturity @30% (Rs 121651 @ 30% = 36495 goes in taxes ) but here in LIC JEEVAN VRIDDHI you are not taxed at all so still it is a good investment. 
   
 _______________________________________________________________________
How is it better than NSC and Fixed Deposit ?                Gaurav Chadha, Delhi
Reply :   If you had invested NSC, Fixed deposits,etc, Income tax is required to be paid.
Say if you invested Rs 1,00,000 in NSC or Fixed deposit, then you are required to  pay Income tax of Rs 30,000/-,
But In Jeevan Vriddhi, You don't have to pay any Income tax  
 _______________________________________________________________________
  
How is it better than Mutual Funds?                                                 Shriya, Delhi
Reply:  Mutual are subject to market risk, You dont know that Rs 100,000 you had invested will even give you back your Principal amount. Forget about interest part.
But Jeevan Vriddhi, is Guaranteed Plan. Total amount you can expect after 10 years would be double the amount you had invested ( inclusive of Guaranteed amount + loyality bonus)
   

Highlights of Jeevan Vriddhi New Single Premium Plan

LIC Jeevan Vriddhi Insurance Plan is a single premium plan wherein the risk cover is a multiple of premium chosen by you. On maturity this plan offers a Guaranteed Maturity Sum Assured and Loyalty Addition, if any.

Jeevan Vriddhi combines a risk cover (five times the premium ), tax benefits under Sec 80C, guaranteed maturity amount, one time payment, liquidity (loans available after 1 year) and also tax free maturity amount. And not to forget a possible return of 12% over the 10 year term

Key Features of LIC Vriddhi Insurance Plan:
1) This is Single Premium Plan. No need to worry about paying premium every year.
2) Benefit is enjoyed by policy holder for 10 years.
3) In case of death of the Life Insured within the policy tenure, Sum Assured is 5 times the premium paid.
4) On policy Maturity, Guaranteed Maturity sum is assured (approx double the premium paid).
5) Loan Upto 90% of premium paid is available
6) Higher Return of upto 12% over 10 year term

For More details visit here