Pension Plan – Retirement Plan

Company	Aviva	ICICI Prudential	Kotak	LIC	Max New York Life
Plans	Pension Plus	Life Stage	Retirement Investment	Jeevan Nidhi	Smart Invest Plan
Overview	PensionPlus offers you 4 unit linked funds including a new Pension Protector Fund and a new Pension Index Fund which invests your premium in line with the stock market index - NIFTY. It also gives you the flexibility of increasing your regular premiums when you need to and protect the real value of your investments through the Indexation option. With PensionPlus you can also revise the policy term as per your convenience.	ICICI Prudential presents to you, Life Stage Pension to help you plan your retirement better. The policy provides you with a unique lifecycle-based strategy that continuously re-distributes your money across various asset classes based on your life stage and risk tolerance, eventually providing you with a customized Retirement solution.	This savings plan is designed to secure your future. The funds you build up through a combination of regular annual contributions & compelling investment performance will assure that at retirement, when earnings dry up, you have a capital base to support your lifestyle thereafter. The plan also comes with the Kotak "Seal Of Guarantee", which ensures a guaranteed minimum payout amount at maturity, whilst the fund offerings offer meaningful equity exposure to drive long term returns.	LIC's JEEVAN NIDHI is a with profits Deferred Annuity (Pension) plan. On survival of the policyholder beyond term of the policy the accumulated amount (i.e. Sum Assured + Guaranteed Additions + Bonuses) is used to generate a pension (annuity) for the policyholder. The plan also provides a risk cover during the deferment period. The USP of the plan being the pension can commence at 40 years.	Max New York Life's SMART Invest Pension Plan is a comprehensive unit linked pension plan to meet your post retirement financial needs, ensuring you complete peace of mind. One-third of the corpus can be commuted at vesting age the amount commuted are eligible for tax exemption u/s 10A.
Entry Age	Minimum- 18 years	Minimum- 18 years	Minimum- 18 years	Minimum- 18 years	Minimum- 18 years
Entry Age	Maximum- 65 years	Maximum- 70 years	Maximum- 89 years	Maximum- 65 years	Maximum- 60 years
Term	5 years - up to vesting age chosen	10-62 years	10-30 years	05-35 years	10-52 years
Maturity Age	40-70 years	50-80 years	45-99 years	40-75 years	50-70 years
Features	1) Minimum premium is only 6000 (p.a) 2) You have four fund options to choose. 3) Surrender charges nil from 4th policy year onwards. 4) Loyalty additions up to 2%. 5) You can increase your premium by two methods: A). Indexation B). Additional Regular Premium. 6) Free first four switches per year. 7) Premium payment can be done monthly, half-yearly or yearly.	1) You can invest minimum Rs15,000 (p.a) 2) 100% allocation of your premium, which helps to increase your fund value. 3) Flexibility to choose from 5 different pension options through which you can receive your pension. 4) Dynamic fund option available 5) Risk management profile is also available, which helps to manage your risk according to your age. 6) Receive tax-free commutation up to one-third of the accumulated value on vesting date. 7) Opportunity to earn potentially higher returns by investing in Unit Linked Funds. 8) Premium payment can be done monthly, half-yearly or yearly.	1) You can invest minimum Rs15,000 (p.a) 2) Choice of five fund options to balance your risk profile. 3) You get an option of choosing from any 8 different kinds of investment funds. 4) Maximum term options to increase your corpus for pension up to 89 years of age. 5) You can increase your contribution anytime throughout the policy term by way of easy top-up facility. 6) You have the option reducing your premium, from the 2nd policy year onwards subject to the minimum premium criterion. 7) Premium payment can be done monthly, half-yearly or yearly.	1) You can invest minimum Rs 3, 000 (p.a) only. 2) Critical illness & term Assurance rider option available. 3) You get an option of choosing from any 8 different kinds of investment funds. 4) Accidental death & disability benefit available. 5) The annuity will be paid to the life assured as long as he/she is alive. 6) In case of death of the life assured before the vesting age, an amount equal to the sum assured along with the accrued guaranteed additions will be paid in lump-sum to the nominee. 7) Premium payment can be done monthly, half-yearly or yearly.	1) You can invest minimum Rs10,000 (p.a) 2) Five different fund options available. 3) You can Increase your premium amount through unlimited Top-ups to match your cash flow. 4) Either Dynamic fund feature or switching option available without any extra cost. 5) 100% allocation of your premium, from the 2nd policy year onwards. 6) Flexibility to choose deferment period. 7) Premium payment can be done monthly, half-yearly or yearly.
Tax Benefits	Tax benefit available under section 80C.	You can also avail the tax benefits U/S 80CCC of Income Tax act.	You can also avail the tax benefits U/S 80C of Income Tax act.	You can also avail the tax benefits U/S 80CCC of Income Tax act.	You can also avail the tax benefits U/S 80CCC of Income Tax act.

Disclaimer: Please note that the information provided is collected from sources publicly available & we believe to be reliable. The website doesn’t warrant the accuracy, reliability & absolute information available on the website. Participation by site visitors or registered customers is on a voluntary basis. The policies are offered by various life Insurance & non-life insurance offering companies and Bimadeals does not seek to, either directly or indirectly, advise, offer, solicit or recommend that any person who is or proposes to become its member should purchase the Policy.

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