Page 43 - Insurance Times October 2019

Y The minimum premium that you can pay annually is date to have an accumulation period of five years to
Rs.7, 500 with no cap on maximum limit. 30 years.

Y The minimum maturity age of this plan is 40 years Y The plan also provides you option to choose your
and maximum age is 70 years. premium amount.
Y The sum assured does not have any maximum limit Y You can choose the risk profile as per your risk
whereas the minimum sum assured that you can appetite.
expect from this plan is Rs.1 Lakh.
Reliance - Smart Pension:
LIC Jeevan Nidhi Plan: This is a non-participating Unit Linked Best Pension Plan
This is one of the best pension plans wherein the that enables you to save your money in a systematic
accumulated amount is used for generating your pension manner so that you can build a lump sum amount in a
according to your survival after the term of the policy. systematic way. In this way, this plan enables you to get
a regular income after your retirement.
Benefits and Features
Y The premiums that you pay are eligible for tax Benefits and Features
exemption under section 80CCC of the Income Tax Y The term of this policy ranges from 10 years to 30
Act, 1961. years.

Y For the first five years of the policy, you will get Y This top pension plan ensures you to provide
guaranteed additions at Rs.50/- per thousand Sum guaranteed loyalty additions.
Assured for every completed year.
Y With this plan, you become eligible to get double
Y From the sixth policy year, the policy starts benefits of equity and capital guarantee.
participating in the profits of LIC.
Y The minimum vesting age of this plan is 45 years
Y There is no maximum limit for the basic sum assured. whereas the maximum vesting age is 75 years.
However, the minimum sum assured offered by the
Y The plan also provides income tax benefits under
company under this plan is Rs.1 Lakh, if you pay section 80C and 10A of the Income Tax Act.
regular premiums. For single premium policies, the
basic sum assured is Rs.1.50 Lakhs.
Max Life Guaranteed Lifetime Income
Y The policy term may range from 5 years to 35 years.
Plan:
Y The minimum vesting age for this top pension plan is This plan is a traditional non-linked annuity plan that
55 years and the maximum is 65 years.
ensures to provide you a regular income post your
Birla Sun Life Empower Pension: retirement.
This is a unit-linked, non-participating and one of the best Benefits and Features:
pension plans of Birla Sun Life Insurance Company. This
Y This top pension plan gives pension until your spouse
plan is designed to improve your savings that you can and you are alive.
utilize post-retirement.
Y You can receive a pension on a quarterly basis,
Benefits and Features: monthly basis, yearly basis, or half-yearly basis.
Y The term of the policy ranges from five years to 30 Y Your nominee gets the purchase price of the policy
years. after your death.

Y The minimum age to enter in this plan is 25 years and Y You can choose from four annuity options.
the maximum age is 70 years.
Y You can also select the one-time lump-sum payment
Y The plan gives you an option to select the vesting option for purchasing the plan. T

The Insurance Times, October 2019 43