OBJECTIVES:
This policy absolutely promotes a matchless idea of providing a pension product which ensures a golden life after retirement.
BENEFITS:
Dream Life Pension Plan pays also one time great amount or else it provides regular premiums. At the time of beginning the policy promises to increase the premiums by 5% or by 8% each year. This insurance policy also makes increase/decrement any time after the 2nd policy year. It also helps to modify the plan of retirement age at any time during the policy term. Benefits in terms of tax on premium paid as well as traditional benefits are calculated as per the general rules of tax.
WORKING FUNCTIONS DREAM LIFE PENSION POLICY:
It facilitates the choosing alternative of age at which the customers would like to leave which absolutely determines the term of the paying premiums. In this insurance policy once the units are individual allocated, the administration charges of this policy are subtracted monthly by the exact cancellation of units. This policy also provides unique additions to the policy fund value which starts from the 10th policy year onwards till the retirement date of the customer.
PARAMETERS AND ELIGIBILITY TO HAVE THIS POLICY:
At the entry level the age of the nominee should be 18 years. A person can have this policy at the maximum age of 70 years. A person should acquire the maximum age at retirement is 80 years. Premium modes must be singly pay, half yearly, quarterly and monthly. Minimum policy term is for 10 years and minimum top-up premium is Rs.2500/-.
RISK MANAGEMENT OF DREAM LIFE PENSION PLAN:
This policy definitely a unit-linked product which are different from other traditional policies. Since it is the name of the insurance company so it doesn’t reflects in any way the policies scenario and its returns.
Know more about unit linked plan.click here
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Tags: bharti axa life insurance, Dream Life Pension Plan, insurance policy