A Single Premium, Non-linked, Non-Participating, Individual, Immediate Annuity Plan

Features

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Life Annuity with 100% return of purchase price – Guaranteed Lifelong pension, upon death of the annuitant the premium paid will be refunded to the nominee
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Joint Life annuity with Return of 100% Purchase Price on death of last survivor – Guaranteed Lifelong Pension, upon death of the annuitant, the same pension will be paid to the spouse as long as he/she lives, upon death of the spouse the premium paid will be refunded to the nominee.
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Option to Surrender in case of critical illness
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Guaranteed Annuity Pay-out
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Annuity Pay-out as per convenience

 

Saral Pension Plan is a simple 3 step process: 

  • Step 1: Decide the amount that you want to receive as regular income; else decide the single amount that you want to pay to purchase annuity. 
  • Step 2: Choose your desired option from the 2 plan options available.
  • Step 3: Choose the frequency of receiving your regular income from monthly, quarterly, half-yearly and yearly payout modes

 

Eligibility Criteria

Criteria Minimum/ Maximum Ageas Federal Life Insurance Saral Pension Plan
Age at entry Minimum 40 Years
Maximum 80 years
Purchase Price Minimum For both Annuity Options Rs. 1,50,000, subject to minimum Annuity Pay-out
Maximum No limit, subject to Board Approved Underwriting Policy
Annuity Pay-out Minimum  Rs. 1000 per Month, Rs. 3000 per Quarter, Rs. 6000 per Half year and Rs. 12000 per Year
Maximum No limit, subject to Board Approved Underwriting Policy
Policy Term Whole of Life
Premium Paying Options  Single Pay

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