Everyone dreams of the day when they can finally hang the boots up and retire in peace but that dream is most often shattered by the prospect of having to live in retirement struggling to find a source of income. This concern is what the pension plans by to help with. They offer you the opportunity to invest in their today so as to be able to retire and still have a source of income feeding into your bank accounts money that you need.
Exide Life Immediate Annuity
The Immediate Annuity plan offered by Exide Life Insurance ensures that when you retire, you have a source of income that can keep you going and let you enjoy retirement.Eligibility
TO be able to participate in this plan, you need to be minimum of 45 years of age in case you are a new customer. For existing customers who may have deferred pension, there is no minimum age limit. The maximum age for taking is policy is between 70 years and 75 years.Features
- This is a single pay policy therefore the premium for it is paid in one single lump sum.
- The minimum premium payable is Rs. 50,000 and there is no limit on the maximum.
- The minimum payout that this policy offers is Rs. 1,000.
- The pay-outs can be taken monthly, quarterly, half-yearly or annually.
- The policy come with a free look period of 15 or 30 days.
- It offers annuity payments for life.
- It requires no medical exams to be conducted when the policy is taken.
- The death benefit of this policy is the refund of the entire, or a part of the entire, price paid for this policy.
- If purchases made are of a large volume, the policy offers some attractive discounts too.
Other Exide Life Insurance Plans
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GST of 18% is applicable on life insurance effective from the 1st of July, 2017