Plan Features
Saral Pension (862)
Product Summary
Single premium only.
Premium Payment Mode
Single premium only.
Annuity Mode
-
Optional Benefits
-
Term
Single Premium with life long annuity benefits.
Premium Paying Term
Single Premium
Minimum Age at Entry
40 Years Completed
Maximum Age at Entry
80 Years Completed
Annuity Options
Deferred annuity two options (1. Single Life 2. Joint Life).
Minimum Purchase Price
Minimum purchase price shall depend on the Minimum Annuity as specified below.(Minimum Annuity:Annual -12,000, Hly-6,000, Qly-3,000, Mly -1,000)
Deferment Period
-
Joint Annuity
-
Maximum Cover Ceasing Age
-
Maturity Age
-
Sum Assured
-
Maturity Benefit
-
Death Benefit
-
Minimum Basic Sum Assured
-
Minimum age at the end of Premium Paying Term
-
Maximum Maturity Age
Minimum Premium
-
Maximum Premium
-
Minimum Basic Sum Assured
-
Sum Assured on Death
-
Minimum Sum Assured
-
Maximum Sum Assured
-
Guaranteed Additions
-
Survival Benefits
-
Riders Available
Nil
Accidental Death and Disability benefit (ADDB)
Nil
Policy Benefits
On Death
Option 1: Annuity stops on the death of the policy holder and the 100% purchace price is returned to the nominee. Option 2: (Joint Life) Annuity continues till the death of the last survivor and 100% of purchase price returned to the nominee on the death of the last survivor.
On Survival
Annuity paid for life irrespective of the option.
On detection of Early Stage Cancer
-
On detection of Major Stage Cancer
-
Settlement Option
-
Multiple Allowed
-
Surrender Value
95 % of the purchase price shall be paid, any time after 6 months, to the annuitant, if application on medical ground is accepted by the corporation
Loan
Loan allowed after six months from the date of commencement.(maximum loan will be restricted so that interest amount payable on loan does not exceed 50 % of annual annuity amount.
Income Tax Benefit
Income Tax benefits not available
Proposal Form
Special Proposal form for Saral Pension
| Product Summary | Single premium only. |
|---|---|
| Premium Payment Mode | Single premium only. |
| Annuity Mode | - |
| Optional Benefits | - |
| Term | Single Premium with life long annuity benefits. |
| Premium Paying Term | Single Premium |
| Minimum Age at Entry | 40 Years Completed |
| Maximum Age at Entry | 80 Years Completed |
| Annuity Options | Deferred annuity two options (1. Single Life 2. Joint Life). |
| Minimum Purchase Price | Minimum purchase price shall depend on the Minimum Annuity as specified below.(Minimum Annuity:Annual -12,000, Hly-6,000, Qly-3,000, Mly -1,000) |
| Deferment Period | - |
| Joint Annuity | - |
| Maximum Cover Ceasing Age | - |
| Maturity Age | - |
| Sum Assured | - |
| Maturity Benefit | - |
| Death Benefit | - | Minimum Basic Sum Assured | - |
| Minimum age at the end of Premium Paying Term | - |
| Maximum Maturity Age | |
| Minimum Premium | - |
| Maximum Premium | - |
| Minimum Basic Sum Assured | - |
| Sum Assured on Death | - |
| Minimum Sum Assured | - |
| Maximum Sum Assured | - |
| Guaranteed Additions | - |
| Survival Benefits | - |
| Riders Available | Nil |
| Accidental Death and Disability benefit (ADDB) | Nil |
| On Death | Option 1: Annuity stops on the death of the policy holder and the 100% purchace price is returned to the nominee. Option 2: (Joint Life) Annuity continues till the death of the last survivor and 100% of purchase price returned to the nominee on the death of the last survivor. |
|---|---|
| On Survival | Annuity paid for life irrespective of the option. |
| On detection of Early Stage Cancer | - |
| On detection of Major Stage Cancer | - |
| Settlement Option | - |
| Multiple Allowed | - |
| Surrender Value | 95 % of the purchase price shall be paid, any time after 6 months, to the annuitant, if application on medical ground is accepted by the corporation |
| Loan | Loan allowed after six months from the date of commencement.(maximum loan will be restricted so that interest amount payable on loan does not exceed 50 % of annual annuity amount. |
| Income Tax Benefit | Income Tax benefits not available |
| Proposal Form | Special Proposal form for Saral Pension |
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