Advantages

• This plan is designed to provide you a post retirement income for life – You can choose your premium, the Sum Assured and your retirement date. At the end of the policy term, you will receive the accumulated value of your funds, which will be used to provide your pension income in your golden years
• This plan gives you Bumper Addition to the fund value on Vesting. Your fund value will be augmented by addition of Bumper Addition to the extent of 50% of your original annualised premium chosen at inception
• On your chosen retirement (Vesting) date, you will get the value of the units in your policy. As per prevailing Government regulations;
• You can take up to 1/3rd of the total benefit at Vesting (fund value + Bumper Addition) as a tax-free cash lump sum
• The rest must be converted to annuity
• You can buy the annuity from us or any other insurer
• In the long term, the key to building great maturity values is a low Fund Management Charge (FMC). We have a low FMC of only 1.25% per annum (of the fund’s value)
• If you have not opted for AAO (Asset Allocation Option), you can change your investment fund choices in two ways:
• Switching: You can move your accumulated funds from one fund to another anytime
• Premium Redirection: You can pay your future premiums into a different selection of funds, as per your need
• You can choose to pay your premium as either Monthly (through Standing Instructions or ECS Mandate), Half yearly or Annually. You also have a range of convenient auto premium payment options
• Tax benefits under sections 80CCC of the Income Tax Act, 1961 subject to the provisions contained therein