- This investment is best for children. However, it is beneficial to invest at a young age.
- This is non-participating, unit linked pension plan which aims for building corpus with systematic savings converting into regular income on retirement after taking the annuity plan.
- One can take immediate or deferment pension option.
- This pension plan can be taken with a single premium or regular premium option. Under regular premiums, one needs to invest for the entire term of the policy.
- This pension plan provides an option to extend the accumulation period or deferment period within the same policy with same terms and conditions.
- An investor can invest in 4 different funds available to them.
- Investors have an option for 4 free switches between the funds in a policy year.
- This plan offers guaranteed additions of 5% to 15.5% of yearly premium at specific intervals.
- For the premiums paid, there would be a premium allocation charge. The balance would be used in purchasing the units in the fund chosen by the investor.
- Partial withdrawal of the units (10% to 25%) is allowed for 3 times in a policy period.
- Investors can purchase this plan through online or through offline mode from agents or by visiting any of the LIC branches.
How Does This Policy Work
Sample illustration
| Eligibility Criteria |
| Mode/ Premium Payment Frequency |
Single Premium (Rs.) |
Regular Premium (Rs.) |
| |
1,00,000 |
|
| Yearly |
30,000 |
| |
|
| Half Yearly |
16,000 |
| |
|
| Quarterly |
9,000 |
| |
|
| Monthly (NACH) |
3,000 |
| |
|
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| |
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|
<
| Basic Sum Assured |
|
Not Applicable |
| Maximum Premium |
|
No Limit |
| Minimum Entry Age |
|
25 years (Last Birthday) |
| Maximum Entry Age |
|
75 years (Last Birthday) |
| Minimum Vesting Age |
|
35 years (Last Birthday) |
| Maximum Vesting Age |
|
85 years (Last Birthday) |
Age at entry for policyholder is to be taken as age last birthday (LBD) |
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Premium Paying Frequency & Premium Paying Term: |
|
| Sr.No. |
Premium Payment Frequency |
Premium Paying Term |
| 1 |
Single Premium |
Single Premium |
| 2 |
Regular Premium [(Yearly, Half-yearly, Quarterly and Monthly (NACH)] |
Same as Policy Term |
| |
|
|
Minimum/Maximum Policy Term: |
|
| Premium Payment Frequency |
Minimum (Years) |
Maximum (Years) |
| Single/Regular Premium |
10 |
42 |
The minimum/maximum policy term shall be subject to minimum/maximum vesting age |
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