A unit-linked retirement solution that offers accumulation option through limited pay
The SMART Invest Pension Plus plan. Max New York Life Insurance has launched its retirement solution, India-based insurance company.
The plan also gives up to 300% of the premium as maturity bonus depending upon the term of the Plan. It is a unit-linked pension plan that offers increase option through limited pay.
This feature is also beneficial for younger people who could channel’s their bulge sum income, such as bonus towards retirement planning. SMART Invest Pension Plus plan intends to offer the customer a choice of limited pay option. This feature entitles the customer to a five-pay term of a minimum of INR50, 000, enabling them to plan for retirement plan in an efficient manner.
Smart Invest Pension Plus offers maturity bonuses at end of the policy term to customers who have been determined. The company claims that the plan offers a growth potential, as from 1st policy year itself, 100% of premium is allocated into the funds of customer’s pick. Depending on the policy term..
Smart Invest Pension Plus also allows a premium indexation feature. In case the customer decides to change to level or fixed premium, he will be able to do so after the policy completes 3 years, by informing the company and can continue payment of fixed premium every year. This ensures that the customer is able to start retirement planning early. It enables the customer to enter the plan at a lower premium and then keep increasing the premium by 5% (of the initial premium) every year over the policy term.
Wednesday, September 16, 2009
Friday, September 4, 2009
Shriram Life disclose pension plan
Shriram Pension Plan — Shriram Life Insurance (SLIC) today launched a unit-linked premium plan —which gives clients varied options to invest their money and receive maximum returns post-retirement.
The company said in a statement here. The plan would have a unique feature of no life cover, thus providing clients who did not require further life cover (or did not qualify for life cover for medical reasons) with the option of a savings-only scheme. The plan also offers investment in low-risk funds such as Secure Plus (a debt-linked fund for those desiring stability) and Tyaseer Fund, a Shariah-friendly investment fund. Another feature under the plan is auto transfer. Under this, the risk of investing the full premium into a fund is reduced by allowing the premiums to be invested in a low-risk fund (Secure Plus) instead, and regularly transferring the money into the special investment portfolio.
Shriram Life CEO (New Channel) Gerhard Joubert said. “With this plan, we aim to provide our clients with varied options to invest their money so that they can receive maximum returns in their future,”
Joubert said. “Our product is only for pension seekers and should not be confused in any manner with a life insurance cover concept, therefore no life insurance cover is provided, it is a savings-only vehicle,”
Being a pension plan, clients will also enjoy tax benefits under section 80CCC of the Income Tax Act.
Shriram Life Insurance is a joint venture between the Shriram Group and Sanlam, a leading insurance company of South Africa.
The company said in a statement here. The plan would have a unique feature of no life cover, thus providing clients who did not require further life cover (or did not qualify for life cover for medical reasons) with the option of a savings-only scheme. The plan also offers investment in low-risk funds such as Secure Plus (a debt-linked fund for those desiring stability) and Tyaseer Fund, a Shariah-friendly investment fund. Another feature under the plan is auto transfer. Under this, the risk of investing the full premium into a fund is reduced by allowing the premiums to be invested in a low-risk fund (Secure Plus) instead, and regularly transferring the money into the special investment portfolio.
Shriram Life CEO (New Channel) Gerhard Joubert said. “With this plan, we aim to provide our clients with varied options to invest their money so that they can receive maximum returns in their future,”
Joubert said. “Our product is only for pension seekers and should not be confused in any manner with a life insurance cover concept, therefore no life insurance cover is provided, it is a savings-only vehicle,”
Being a pension plan, clients will also enjoy tax benefits under section 80CCC of the Income Tax Act.
Shriram Life Insurance is a joint venture between the Shriram Group and Sanlam, a leading insurance company of South Africa.
Subscribe to:
Comments (Atom)