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Pension Plan

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Jeevan Suraksha|Lic|Lic India

Jeevan Suraksha is a Deferred Annuity plans from LIC that allows the policyholder to make provision for regular income after the selected term.

Features
•Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary deductions throughout the term of the policy or till earlier death.
•Single premium option is also there, i.e. premium can be paid in one lump sum
•The premiums paid under New Jeevan Suraksha qualify for tax relief under Section 88.
•These are with-profit plans and participate in the profits of the Corporation’s annuity / pension business & policies get a share of the profits in the form of bonuses
•Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year & they form part of the guaranteed benefits of the plan.
•Additional Bonuses may also be payable provided policy has run for a certain minimum period.

Benefits

Death Benefit:

Jeevan Dhara|Lic products

LIC's Jeevan Dhara is a deferred annuity plan that allows the policyholder to make provision for regular income after the selected term.

Features
• Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary deductions throughout the term of the policy or till earlier death.
• Single premium option is also there, i.e. premium can be paid in one lump sum
• The premiums paid under New Jeevan Dhara I qualify for tax relief under Section 88.
• These are with-profit plans and participate in the profits of the Corporation’s annuity / pension business & policies get a share of the profits in the form of bonuses
• Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year & they form part of the guaranteed benefits of the plan.
• Additional Bonuses may also be payable provided policy has run for a certain minimum period.

Benefits

Death Benefit

LIC Jeevan akshay pension plans

It is an Immediate Annuity plan from LIC's , which can be purchased by paying a lump sum amount. The plan provides for annuity (pension) payments of a declared amount throughout the life time of the annuitant. The type and mode of payment of annuities comes in various options.

Type of Annuity:
• Annuity payable for life at a uniform rate.
• Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as the annuitant is alive.
• Annuity for life with return of purchase price on death of the annuitant.
• Annuity payable for life increasing at a simple rate of 3% p.a.
• Annuity for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
• Annuity for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
You may choose any one. Once chosen, the option cannot be altered.


Annuity can be paid monthly, quarterly, half yearly or yearly intervals. Any mode of payment of Annuity can be opted.

Jeevan Nidhi|Jeevan Lic|Jeevan Bima

Lic Jeevan Nidhi Plan

It is a with profits Deferred Annuity (Pension) plan. On survival of the policyholder beyond term of the policy the accumulated amount (i.e. Sum Assured + Guaranteed Additions + Bonuses) is used to generate a pension (annuity) for the policyholder. The plan also provides a risk cover during the deferment period. The USP of the plan being the pension can commence at 40 years.

Eligibility

For Basic Benefit
a) Minimum entry age: 18 years (completed)
b) Maximum entry age: 65 years
c) Minimum vesting age: 40 years
d) Maximum vesting age: 75 years
e) Policy terms: 6 to 35 years under Single Premium policies and 5 to 35 years under Regular Premium policies

TATA AIG LIFE Nirvana

TATA AIG LIFE Nirvana

You need money to live after you retire, but is the money you saved going to be enough?
The Tata AIG Life Nirvana (Nirvana) retirement plan is a flexible policy that allows you to choose your retirement age (from 50 to 65 years).

Key features include:

•Sum Assured is payable on death during the accumulation stage or on vesting age.
•A guaranteed 10% addition to the sum assured payable at the time of your death or vesting age if your policy has been in force for 10 years.
•A Reversionary bonus declared from the 5th policy anniversary and credited on each policy anniversary.
•A Terminal bonus is payable at the time of retirement or death (policy must be in force for a minimum 10 years).

Max New York Life-Pension Plan

Plan details
Participants can either pay a fixed premium every year (payable yearly or half-yearly) for a specified term, or pay a single premium.
On maturity, the policy will provide a corpus that includes the sum assured and the pure endowment benefits purchased out of the bonuses declared. Bonuses are not guaranteed and are a function of the company's investment performance.
One can commute up to 25 per cent of the corpus on maturity and buy an annuity with the remaining amount. The annuity options offered by MNYL are:

Annuity for life: The policyholder will receive an annuity till his death

BAJAJ ALLIANZ-Swarna Vishranti

A plan that enables you to retire with laughter lines – not worry lines

• Option to take a tax-free lump sum up to 33% of Sum Assured + Accrued Bonuses.

• Open Market option: Purchase immediate annuity from Bajaj Allianz Life Insurance or any other Life Insurance Company.

Additional Benefits:
• Accidental Death Benefit and Disability Benefit.
• Critical Illness Benefit and Hospital Cash Benefit.
• Family Income Benefit: In case of death or accidental total permanent disability of insured, all future premiums are waived and 1% of the sum assured is paid monthly.
• Term Cover: Additional life insurance protection at a nominal cost.

LIC-JEEVAN NIDHI(Pension Plan)

LIC Jeevan Nidhi
LIC's JEEVAN NIDHI comes with profits Deferred Annuity (Pension) plan. On survival of the policyholder beyond term of the policy the accumulated amount (i.e. Sum Assured + Guaranteed Additions + Bonuses) is used to generate a pension (annuity) for the policyholder. The plan also provides a risk cover during the deferment period. The USP of the plan being the pension can commence at 40 years. The premiums paid are exempt under Section 80CCC of Income Tax Act.

Salient Features:
A . Guaranteed Additions: Guaranteed Additions @ Rs.50/- per thousand Sum assured for each completed year, for the first five years.