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Saral Pension Plan

Saral Pension Plan

Meet Advisor

Saral Pension Plan

Saral Pension Plan
Meet our Advisor
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Meet our Advisor

About Saral Pension

UIN: 136N076V01

We all have goals and dreams for the golden years of our life. The most prominent goal for us all, is to remain financially independent and as comfortable and secure as we were before retirement. After putting in years of hard work, everyone deserves to fulfil all their desires without having to worry about money. But for the ideal post retirement life in the future, one needs to plan today.

The best way to ensure security post retirement is to get a regular guaranteed income stream as per your needs by buying the Canara HSBC Oriental Bank of Commerce Life Insurance Saral Pension. It is a Single Premium Non-Linked Non-Participating Individual Immediate Annuity Plan.

Why Buy

  • Two Annuity Options to choose from:
    • Option 1 - Life Annuity with Return of 100% of Purchase Price – Get guaranteed income for your lifetime
    • Option 2 - Joint Life Last Survivor Annuity with Return of 100% of Purchase Price on death of the Last Survivor - Receive regular income for as long as you or your spouse is alive
  • Safety net for family with return of purchase price in the event of death
  • Option to surrender in case of Critical Illness
  • Flexibility to choose annuity installment frequency - Monthly, Quarterly, Half-yearly & Yearly as per your need
  • Secure better annuity amount with higher purchase price incentive

READ MORE

Death/Survival Benefit:


Annuity Option
Benefits Payable on Survival
Benefits Payable on Death

Option 1 - Life Annuity with Return of 100% of Purchase Price

Annuity is payable throughout the life of the Annuitant

On death of the Annuitant, all future annuity payouts cease immediately, Purchase Price will be paid to nominee and policy will terminate.

Option 2 - Joint Life Last Survivor Annuity with Return of 100% of Purchase Price on death of the Last Survivor

Annuity is payable as long as either of two Annuitants is alive

On the death of one of the Annuitants, the surviving Annuitant will receive 100% of original annuity throughout life.

On subsequent death of the surviving Annuitant, all future annuity payouts shall cease immediately and 100% of the Purchase Price will be paid to nominee and policy will terminate.

Maturity Benefit:


There is no maturity date. Hence, no maturity benefit is available in this plan.

Loan Facility:


To meet any contingent need, you may avail the loan facility in this plan any time after six months from the Date of Commencement of the Policy.

Better Annuity Rates for Higher Purchase Price:


You will receive better annuity rates if you wish to select higher purchase price.

Step 1: Choose any one Annuity Option as per your need

Step 2: Decide the Purchase Price (single premium)

Step 3: Provide entry age and gender of the Annuitant or also of Spouse, in case of joint life

Step 4: Select the frequency of annuity payment

Step 5: Annuity amount along with applicable boosters will be derived basis above parameters

Step 6: Pay the purchase price and start receiving annuity installments

Parameters
Minimum
Maximum

Entry Age

40 years

80 years

Purchase Price

Minimum: Would depend upon chosen annuity option, frequency of annuity payment, entry age and gender of annuitant and spouse, if applicable


Maximum: No limit

Annuity Term

Whole life

Annuity Installment

Annuity Frequency
Minimum Annuity Installment
Maximum Annuity Installment

Monthly

Rs. 1,000

No limit

Quarterly

Rs. 3,000

No limit

Half-yearly

Rs. 6,000

No limit

Yearly

Rs. 12,000

No limit

Annuity installments shall be made by electronic transfers directly to the bank account of the Annuitant.

  • Option 1 - Life Annuity with Return of 100% of Purchase Price
  • Option 2 - Joint Life Last Survivor Annuity with Return of 100% of Purchase Price on death of the Last Survivor
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