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Death Benefit : |
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You have two options: |
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·Go for ‘Zero Sum Assured’, making it a pure investment plan, or |
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·Choose a Sum Assured beginning Rs.100,000 up to a maximum of the annual premium multiplied by the policy term. |
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In the unfortunate event of death of the insured person, the spouse receives Sum Assured or the Fund Value, whichever is higher. This may be taken as a lump sum or may be used to purchase an annuity from the company. |
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Regular Pension after retirement : |
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On maturity, the accumulated value of units will be used to purchase an annuity. |
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You will receive this as pension during your post-retirement years that will help you maintain your lifestyle needs for as long as you live. |
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Tax
Benefits : |
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The premiums that you pay for LifeTime Super Pension are eligible for tax benefits under Section 80CCC. |
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Power to Invest in a Plan based on your Priorities : |
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Choose between the Pension Flexi Growth II, Pension Maximiser II, Pension Flexi Balanced II, Pension Balancer II, Pension Protector II, Pension Preserver. |
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You can switch between the plans, to suit your investment priorities. 4 free switches a year.
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Power to Choose the Retirement Date : |
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Choose a vesting date between 45 - 75 years of age.
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Power to receive pension in 5 different ways : |
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Life Annuity |
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Life Annuity with Return of Purchase Price |
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Life Annuity Guaranteed for 5/10 /15 years or life thereafter |
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Joint Life, Last Survivor with return of Purchase Price |
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Joint
Joint Life, Last Survivor without return of Purchase Price
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Additional Protection with Rider |
For additional protection, you can further customise your plan by adding the following riders: |
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Accidental and Disability Benefit Rider (ADBR) |
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Waiver of Premium Rider (WOPR) |
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Open Market Option : |
This option enables you to buy a pension from any other insurer of your choice, at the time of vesting. You have the freedom to take the best offer available in the market.
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Product Details : |
| Min / Max entry age |
18 – 65 years |
| Max cover ceasing age |
75 years |
| Min/Max Policy term |
10 – 57 years |
| Min Premium |
Rs.10,000 p.a. |
| Fund Switches |
4 free switches a year, subject to a minimum switch amount of Rs.2,000. A charge of Rs.100 for any additional switches.
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| Fund Mgmt. Charges |
Pension Flexi Growth II / Pension Maximiser II: 1.50 %p.a
Pension Flexi Balanced II / PensionBalancer II: 1.00%p.a Pension Protector II: 0.75%p.a
Pension Preserver: 0.75%p.a
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