| Company | Aviva | ICICI Prudential | Kotak | LIC | Max New York Life | Met Life |
| Plans | Pension Plus | Life Stage | Retirement Investment | Jeevan Nidhi | Smart Invest Plan | Met Advantage Plus |
| Overview | PensionPlus offers you 4 unit linked funds including a new Pension Protector Fund and a new Pension Index Fund which invests your premium in line with the stock market index - NIFTY. It also gives you the flexibility of increasing your regular premiums when you need to and protect the real value of your investments through the Indexation option. With PensionPlus you can also revise the policy term as per your convenience. | ICICI Prudential presents to you, Life Stage Pension to help you plan your retirement better. The policy provides you with a unique lifecycle-based strategy that continuously re-distributes your money across various asset classes based on your life stage and risk tolerance, eventually providing you with a customized Retirement solution. |
This savings plan is designed to secure your future. The funds you build up through a combination of regular annual contributions & compelling investment performance will assure that at retirement, when earnings dry up, you have a capital base to support your lifestyle thereafter. The plan also comes with the Kotak "Seal Of Guarantee", which ensures a guaranteed minimum payout amount at maturity, whilst the fund offerings offer meaningful equity exposure to drive long term returns. | LIC's JEEVAN NIDHI is a with profits Deferred Annuity (Pension) plan. On survival of the policyholder beyond term of the policy the accumulated amount (i.e. Sum Assured + Guaranteed Additions + Bonuses) is used to generate a pension (annuity) for the policyholder. The plan also provides a risk cover during the deferment period. The USP of the plan being the pension can commence at 40 years. | Max New York Life's SMART Invest Pension Plan is a comprehensive unit linked pension plan to meet your post retirement financial needs, ensuring you complete peace of mind. One-third of the corpus can be commuted at vesting age the amount commuted are eligible for tax exemption u/s 10A. | 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. |
| Entry Age | Minimum- 18 years | Minimum- 18 years | Minimum- 18 years | Minimum- 18 years | Minimum- 18 years | Minimum- 20 years |
| Maximum- 65 years | Maximum- 70 years | Maximum- 89 years | Maximum- 65 years | Maximum- 60 years | Maximum- 55 years | |
| Term | 5 years - up to vesting age chosen | 10-62 years | 10-30 years | 05-35 years | 10-52 years | 10 years |
| Maturity Age |
40-70 years | 50-80 years | 45-99 years | 40-75 years | 50-70 years | 45-65 years |
| Features | 1) Minimum premium is only 6000 (p.a) 2) You have four fund options to choose. 3) Surrender charges nil from 4th policy year onwards. 4) Loyalty additions up to 2%. 5) You can increase your premium by two methods: A). Indexation B). Additional Regular Premium. 6) Free first four switches per year. 7) Premium payment can be done monthly, half-yearly or yearly. |
1) You can invest minimum Rs15,000 (p.a) 2) 100% allocation of your premium, which helps to increase your fund value. 3) Flexibility to choose from 5 different pension options through which you can receive your pension. 4) Dynamic fund option available 5) Risk management profile is also available, which helps to manage your risk according to your age. 6) Receive tax-free commutation up to one-third of the accumulated value on vesting date. 7) Opportunity to earn potentially higher returns by investing in Unit Linked Funds. 8) Premium payment can be done monthly, half-yearly or yearly. |
1) You can invest minimum Rs15,000 (p.a) 2) Choice of five fund options to balance your risk profile. 3) You get an option of choosing from any 8 different kinds of investment funds. 4) Maximum term options to increase your corpus for pension up to 89 years of age. 5) You can increase your contribution anytime throughout the policy term by way of easy top-up facility. 6) You have the option reducing your premium, from the 2nd policy year onwards subject to the minimum premium criterion. 7) Premium payment can be done monthly, half-yearly or yearly. |
1) You can invest minimum Rs 3, 000 (p.a) only. 2) Critical illness & term Assurance rider option available. 3) You get an option of choosing from any 8 different kinds of investment funds. 4) Accidental death & disability benefit available. 5) The annuity will be paid to the life assured as long as he/she is alive. 6) In case of death of the life assured before the vesting age, an amount equal to the sum assured along with the accrued guaranteed additions will be paid in lump-sum to the nominee. 7) Premium payment can be done monthly, half-yearly or yearly. |
1) You can invest minimum Rs10,000 (p.a) 2) Five different fund options available. 3) You can Increase your premium amount through unlimited Top-ups to match your cash flow. 4) Either Dynamic fund feature or switching option available without any extra cost. 5) 100% allocation of your premium, from the 2nd policy year onwards. 6) Flexibility to choose deferment period. 7) Premium payment can be done monthly, half-yearly or yearly. |
1) You can invest minimum Rs10,000 (p.a) 2) One third of the retirement kitty can be taken as a tax free lump-sum at the end of the accumulation term. 3) In case of death during the accumulation period, 100% of the fund value is payable to the nominee 4) Option of choosing from six diverse market linked funds to potentially enhance your savings for retirement. 5) Get the benefit of protection while you are saving for retirement. 6) You can choose from a wide variety of eight immediate annuity options at the time of retirement to match your pension requirement. 7) Premium payment can be done monthly, half-yearly or yearly. |
| Tax Benefits |
Tax benefit available under section 80C. | You can also avail the tax benefits U/S 80CCC of Income Tax act. | You can also avail the tax benefits U/S 80C of Income Tax act. | You can also avail the tax benefits U/S 80CCC of Income Tax act. | You can also avail the tax benefits U/S 80CCC of Income Tax act. | You can also avail the tax benefits U/S 80C of Income Tax act. |
