ICICI Prudential Life Insurance : LifeTime Super Pension
LifeTime Super Pension is a cost-effective plan that delivers great value in the long run. A regular-premium unit-linked pension policy, LifeTime Super Pension ensures you earn a fixed income, for your entire life after retirement. So you can relax and live moments that truly matter.
Minimum/Maximum Entry Age18 years to 65 years
Maximum Cover Ceasing Age75 years
Minimum/Maximum Policy Term10 years to 57 years
Minimum/Maximum Vesting Age45 years to 75 years
Premium Payment Frequency Monthly, half-yearly, yearly
Minimum Premium Rs. 834 monthly, Rs. 5,000 half-yearly, Rs. 10,000
Advantages of LifeTime Super Pension Plan
5 annuity options:
Pick one option based on how long you want your annuity to last and the extent of coverage you want.
6 investment funds:
Select among Flexi-Growth, Maximiser, Flexi-Balanced, Balancer, Protector, and Preserver, based on your financial goals and risk profile. 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.
2 variations of Sums Assured:
Opt for a Zero Sum Assured or a Sum Assured that can be chosen between a minimum of Rs. 1 lakh and maximum of the annual premium multiplied by the policy term.
Tax benefits:
Receive up to one-third of the accumulated value as a tax-free lumpsum on your retirement day. Also enjoy tax benefits on the premiums you pay (under u/s 80 CCC) and tax exemptions on death benefits [under u/s 10 (10 D)].
Sources : http://www.iciciprulife.com/