ICICI Prudential Life Insurance : LifeLink Super Pension
LifeLink Super Pension has been especially tailored for individuals who would much rather make a lump-sum investment than pay premiums at regular intervals for their retirement planning. A cost-effective single premium unit-linked pension policy, LifeLink Super Pension provides potentially higher returns that ensure your golden years are secure and peaceful.
Minimum Premium Rs. 25,000
Minimum/Maximum Entry Age 18 years – 70 years
Minimum/Maximum Policy Term 5 years – 57 years
Minimum/Maximum Vesting Age 45 years to 75 years
Advantages of LifeLink Super Pension Plan
One-time lumpsum payment: Make a single investment of as little as Rs. 25,000.
Investment funds:
Select among Flexi-Growth, Maximiser, Flexi-Balanced, Balancer, Protector, and Preserver, based on your financial goals and risk profile.
Pension options:
Out of the five annuity options, pick one that will best suit your post-retirement requirements.
Pre-decided retirement age:
Determine the age at which you want to start receiving your pensions. The minimum age of receiving pensions is 45 years.
Switch benefit:
Switch between funds anytime to adjust your portfolio, based on your goals and risk profiles. You can switch funds 4 times a year, at no cost. For subsequent switches, you will be required to pay a switch fee of Rs. 100.
Tax benefits:
Receive up to one-third of the accumulated value as a tax-free lump sum on your retirement day. Also enjoy tax benefits on the premiums you pay (under u/s 80 CCC).
Sources : http://www.iciciprulife.com/