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  Insurance as Investment

• Tailor-made for professionals & businessmen.
  
  
• Multiple plan / pension options to choose from, such as

Plan options:

• This plans is available with life cover, without life cover and is very much like an Endowment policy.

Pension options:

• It offers a guaranteed pension for the life of the policyholder or a pension for the last survivor in case of a Joint life policy or a pension fund that will also return the purchase price paid by the policyholder.
  
  
• Terminal bonus is available and there is no forfeiture in case the premiums are discontinued.
  
  
• In case the life cover is not opted for, the policyholder also has the option of a Single or One time premium payable.
  
  
• The policyholder also gains the option of a tax-free commuted value that amounts to nearly 25 percent.

Premiums up to Rs.10,000/- qualify for 100 percent deduction from taxable income in terms of Sections 80 (CCC) of the Income Tax Act

There are various hidden benefits within this plan. The terminal bonus declared by the corporation on the vesting date depends upon the actuarial surplus on the pension fund and will increase the pension benefits. 

The immediate annuity rates prevalent at the time of vesting of pension benefits, if favourable in comparison to the deferred annuity rates will be used to recalculate the pension benefits. This subsequently adds to the policyholder's pension benefits.

Non-forfeiture:

If the payment of premiums is discontinued, the policy is not forfeited completely. If premiums are paid for a full 3 years, the benefits are reduced on pro-rata basis.

Underwriting made easier:

An exclusive non-medical limit of Rs.2 lakhs for purchasers up to the age 40 years last birthday has been permitted for the plan. 

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