Retirement – is that part of life when a person starts a new life. It is a time to realize all the dreams that were lost on the way to become successful and providing for the family. It is the time to reap what was sowed in younger days. It is time to make up for all the lost times with friends and family. It is also a time of anxiety, a time when financial independence is of utmost importance. This can all be done with careful planning in advance. During the early years of your work life start planning for your retirement too. Prepare for your old age in your youth so that your retirement will be from employment and not from income. A financially secured future guarantees peace of mind and gives independence in old age. There are no limitations to what you can do when you have the means and especially the capital that you have invested for your future plans. So we bring you a must have pension plan from MET LIFE, Met Advantage Plus.
OVERVIEW
MetLife offers ‘Met Advantage Plus’ – a Unit-Linked Pension Plan that allows you to effectively and efficiently accumulate for your retirement needs. As the name suggests, it comes with many advantages. You can choose from eight annuity options, two life cover options and get tax benefits under Section 80 C and 10 (10 A). You can buy the plan without any hassles and invest more as you approach retirement by using the top-up functionality. All in all, it’s a plan which works harder for you when you stop working. For one, it ensures that you lead a comfortable lifestyle post retirement.
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICY HOLDER
BENEFITS
Death Benefit
In case of death during the accumulation period, the death benefit payable is:
Under Option A: A guaranteed amount of 110% of the Fund Value is payable to the nominee.
Under Option B: 100% of the Fund Value is payable to the nominee.
Vesting Benefit
On the vesting date, i.e. at the end of the accumulation term,you can take one-third of your retirement kitty as a tax-free lump sum and utilize the balance to buy annuities. Or you can use the entire retirement kitty to buy annuities.
Annuity Options
You can choose from a wide variety of eight immediate annuity options at the time of retirement to match your pension requirement.
ADVANTAGES
1. Advantage of 7 diverse market linked funds to potentially enhance your savings for retirement.
2. Get upto 1/3 rd of your retirement kitty as a tax-free lump sum on retirement.
3. Opportunity to get tax benefits under Sec 80C on your contribution.
4. Choice from amongst eight annuity options at the time of retirement.
5. Get the benefit of protection while you are saving for retirement.
FEATURES & ELIGIBILITY
| Entry Age (in completed years) | Min – 20 years Max – 60 years |
| Minimum Term | 5 years |
| Minimum Vesting Age | 45 years |
| Maximum Vesting Age | 65 years |
| Minimum Premiums | Single Pay: Rs. 1,00,000 Regular Premium: Rs. 10,000 |
| Premium Paying Term | Single Pay & Regular Pay |
Riders
No riders are available.
Possibly Related Posts:
- Pension Guarantee – Bajaj Allianz Life Insurance
- PENSION PLAN | MET PENSION-PAR | MET LIFE | OVERVIEW | BENEFITS | ADVANTAGES| FEATURES & ELIGIBILITY
- PENSION PLAN | MET GROWTH | MET LIFE | OVERVIEW | BENEFITS | ADVANTAGES| FEATURES & ELIGIBILITY
- LIFE INSURANCE |SBI UNIT PLUS II | FEATURES | TYPES | BENEFITS
- LIFE INSURANCE| SBI IMMEDIATE ANNUITY PLAN | FEATURES | OPTIONS | BENEFITS
- LIFE INSURANCE| SBI HORIZON II | FEATURES | TYPES | BENEFITS
Tags: Life Insurance, PENSION, Pension Plan, PENSION PLANS, pension policies, Retirement plans, RETIREMENT POLICIES
