- 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 |
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Half Yearly |
16,000 |
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Quarterly |
9,000 |
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Monthly (NACH) |
3,000 |
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<
Basic Sum Assured |
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Not Applicable |
Maximum Premium |
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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: |
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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 |
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Minimum/Maximum Policy Term: |
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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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