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Pension Plan

Salient Features :

  • This policy will acquire paid-up value or surrender value
  • This policy will be eligible for loan
  • This Policy will have maturity value
  • This policy will participate in profits

  • Minimum age at entry: 16 years
  • Maximum age at entry: 60 years
  • Minimum Policy Maturity Age : 40 years
  • Minimum Term: 5 years
  • Maximum Term: 54 years
  • Maximum Policy Maturity Age: 70 Years
  • Minimum Sum Assured: Rs. 10000
  • Maximum Sum Assured: According to the financial condition of the life to be assured.
  • Premium Paying Mode: Yearly, Half-yearly, Quarterly.

Extras/Rebates of Sum Assured Amount:

Rebates on Large Sum Assured
  • SA Rs. 101,000 and Above: Rs 1 in Basic Premium
  • SA Rs. 201,000 and Above: Rs 2 in Basic Premium

Add/Extras on Less Sum Assured
  • SA Rs. 10,000 to 14,999 : Rs 6 in Basic Premium
  • SA Rs. 15,000 to 19,999 : Rs 3 in Basic Premium
  • SA Rs. 20,000 to 24,999 : Rs 1 in Basic Premium

Rebates/Extra on Mode of Payment
  • Yearly : Less 2%
  • Half Yearly : Less 1%
  • Monthly : Add 5%

Death Benefits:

  • In case of Death of the Life Assured any time after commencement of risk, full sum Assured with the vested bonuses will be paid

Time to Choose Annuity:

  • At the Time of Policy Maturity

Annuity Payment Mode and Commencement of Annuity:

  • Monthly      After 1 month of Policy Maturity Date
  • Quarterly      After 3 months of Policy Maturity Date
  • Half Yearly       After 6 months of Policy Maturity Date
  • Annual      After 1 year of Policy Maturity Date

Annuity Options:

  • Annuity payable for life.
  • Annuity payable certain for either 5, 10, 15 or 20 years and thereafter payable for life.
  • Annuity payable for life with return of purchase price on death.
  • Annuity payable for life increasing @ 3% simple per annum.
  • Joint Life annuity payable for life. (Second annuitant gets 100% of annuity on Death of First annuitant)

Riders :

  • ADB, ADB+PTD+PWB with additional price

First Policy Issued Date :

  • 2069/09/05

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Last Updated Date : 11-20-2016, 2073 Mangsir 20