The Total Investment Plan II – Pension: Retirement Plan is a Single premium unit linked pension plan of Reliance Life Insurance. This plan has options to obtain the identical plan with deducted allocation expenses in following policy years. Since more premiums are allocated towards investment due to lesser allocation charges on following buys the returns increase with the same. Purchasing the related policy in the following years is an option.
The purchase options of Total Investment Plan II – Pension: Retirement Plan is;
- 1st purchase would be called as “Classic”
- 2nd purchase would be called as “Silver”
- 3rd purchase would be called as “Gold”
- 4th purchase would be called as “Diamond”
- 5th purchase would be called as “Platinum”
Once the customer gets the 1st policy of Total Investment Plan II Pension: Pension Plan present will full flexibility for the policy holder to obtain the 2nd or the following purchases and how much to be paid for each purchase subject to the following:
- The minimum purchase on each purchase should be Rs 25,000 at least.
- Retirement Plan the maturity time on each purchase cannot beat more than 70 years.
- The policies must mature on the maturity date of the primary purchase.
- The term of the polices purchased during 2nd, 3rd, 4th and 5th policy years will be 9, 8, 7 and 6 respectively.
- New policy can be taken only if all the preceding polices are active on the date of purchase of new policy.
Retirement Plan is as follows:
- Investment opportunity with flexibility
- Control more than your investments
Tax benefit under Sec. 80CCC of Income Tax Act 1961
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Tags: Pension Plan, Reliance Life Insurance, RETIREMENT PLAN