Simply choose from our range of Insurance plans below

The pension plan works in two phases:

• The first phase is the Accumulation Phase when you pay premium into the policy and accumulate savings for your retirement.
• The second phase is the Annuity (Pension) phase when you start receiving pension from the accumulated amount via your chosen annuity option.

In the unfortunate event of death of the life assured, your nominee receives Sum Assured with Guaranteed Additions and vested bonuses (if any). When the spouse is the nominee this may be used to purchase an annuity that would provide a regular income for life.

You can decide on a vesting age between 50-70 years at the inception of the policy. You can postpone the original vesting date indicated by you upto a maximum age of 70 years. During the postponement period, your accumulated amount will earn interest as determined by the company, from time to time. During this period, you do not need to pay any premium and there is no life cover.

You have the option to choose two riders:

• Critical Illness Benefit Rider
• Accident and Disability Benefit Rider

Your accumulated value would start paying you a regular income in the form of a pension at a frequency chosen by you. The annuity can be received monthly, quarterly, half-yearly or annually.

• How do I receive my pension?

  On vesting you have the flexibility to choose form five different annuity options:

  • Life Annuity
  • Life Annuity with Return of Purchase Price
  • Life Annuity Guaranteed for 5/10/15 years
  • Joint Life Last Survivor with Return of Purchase Price
  • Joint Life Last Survivor without Return of Purchase Price
• How can I commute my policy?

  You have an option to commute and receive a lumpsum amount upto 1/4th of the total sum assured/ paid up sum, guaranteed additions and vested bonuses as an immediate lumpsum, and the balance will be applied to provide a life annuity to the life assured.

• Can I change my pension provider?

  At the time of vesting, we give you the option to choose your pension provider (Open Market Option). It enables you to buy a pension from any other life insurer of your choice. You have the freedom to take the best offer available in the market.

• Can I surrender my policy?

  The policy will acquire a guaranteed surrender value and paid-up value after premiums are paid for three complete policy years.
  • Guaranteed Surrender Value : The guaranteed surrender value will be equal to 35% percent of all the premiums paid, excluding the first year premium, all extra premiums and the premiums paid for rider benefits. The cash value of the Guaranteed Additions already made and vested bonuses will be paid along with the guaranteed surrender value.
  • Non-Guaranteed Surrender Value : The Company may allow surrender values at such other rates not less than the Guaranteed Surrender Values specified above, provided three full years’ premiums have been paid.

We offer several options for you to buy as per your convenience. Choose from one of the following:

• Meet an advisor
• Visit your nearest branch