This is a government initiative scheme for senior citizens to provide them with a regular source of income. This is a 10-year saving scheme applicable for senior citizens.
- What are the key features of this policy?
- Regular Source of Income
- Receiving of last pension installment as well as the purchase price of the policy once the plan matures
- Death Benefits Availability: In the case of the death of the policyholder, the purchase price is refunded to the beneficiary
- Surender Value Benefits: 98% of the amount invested is refunded under the clause of surrender against critical illness and terminal illness
- Loan Benefit Availability
- What is the age limit for buying the policy?
The minimum age to buy the policy is 65 years, and no upper limit for maximum entry age.
- What is the tenure limit of the policy?
The locking period of the policy is ten years.
- What is the frequency of the premium payment?
The premium payment frequency can be set as monthly, quarterly, semi-annually, and annually depending upon your suitability.
- From where can I buy the policy?
You can buy the policy from us.
- Is there a loan avail benefit against this policy?
Yes, a loan is available against the policy after paying the premium for the first three years.
- What is the value of the minimum pension amount against the policy?
The minimum pension value amounts from Rs. 1000/- to a maximum of Rs. 10,000/- per month.