![]() If you choose limited pay terms, policy tenure will be premium paying term plus five years, with the maximum tenure being 35 years. It offers premium paying terms ranging from five, six, eight, 10 and 12 years and regular pay options. The product does not come with any rider benefits such as accidental death and disability or critical illness rider benefits. In the case of the policyholder’s death during the tenure, the life insurance company will hand out the lump-sum death benefits to her nominees or heirs. These along with loyalty additions at the end of the term will translate into a pre-defined retirement corpus for the policyholders, depending on the premiums you pay, premium paying term, policy tenure, sum assured and so on.Īlso read: MC Exclusive: Govt-appointed panel will explore how NPS can be improved for its employees: PFRDA Chairman Deepak Mohanty It will offer guaranteed additions - in other words, returns on premiums invested - through the policy term. Aditya Birla Sun Life Insurance has launched Nishchit pension plan, a non-linked, non-participating individual pension plan, aimed at individuals looking to build a retirement nest over the long term.
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