A plan that offer full freedom to an insured to control his or her future. This is one such plan that helps the insured to plan for their retirement before their retirement. In this policy the premium or the annuity that is to be paid would help them to get steady and regular income after their retirement thereby promising full financial support.
Features and benefits of Swarna Vishranti are:
• The insured is offered with the option to make purchase of immediate annuity either from Bajaj Allianz or from any other insurance company that is recognized by the Insurance Regulatory Development Authority or IRDA.
• The insured is also offered with the option of withdrawing certain percentage of the sum that has been assured along with accrue bonus if there is any. The money and the bonus are fully exempted from Income tax as per the provisions of the Indian income tax act.
• Riders are also offered here in this policy that is available after making an additional premium payment. The riders that are available to the insured are critical illness benefit, accidental death benefit, family income benefit and hospital cash benefit.
• Tax benefits are also available in this policy for the premiums that has been paid for making the policy more effective. Tax benefits are as per the provisions of section 80C of the Indian income tax act. The premiums that have been paid for critical illness benefit and hospital cash benefit riders are fully exempted from tax as per section 80D.
Possibly Related Posts:
- IRDA sets up forum to promote health insurance
- Apollo Munich Optima Restore Family – Features & Benefits
- Not many stealers for health cover portability
- Fixed tenure makes product unpleasant for the young
- Medical insurance portability good for policyholder | Compare | Apply
- Medical insurance on way for discussions, OPD visit
- Health insurers see cost in in-house conclusion of claims
- How to Keep your Health Insurance to reduce costs
- Pharma and healthcare companies are scouring for talent in other sectors
- Govt considers universal health cover scheme