Advantages

• This plan is designed to provide you a post retirement income for life – You can choose your initial single premium, the investment strategy and retirement date. At the end of the policy term, you will receive the accumulated value of your funds including Bumper Additions, which will be used to provide your pension income in your golden years.
• This plan gives you Bumper Addition (*for policies with term equal or greater than 15 years) to the fund value on Vesting. Your fund value will be augmented by addition of Bumper Addition to the extent of 5% of the initial single 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 if any) 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)
• You can change your investment fund choices through switching where you can move your accumulated funds from one fund to another anytime
• Tax benefits under sections 80CCC of the Income Tax Act, 1961 subject to the provisions contained therein