Deferred Annuity Plan with life Cover
	Live the way you live, always.

Retirement is a time when one should be free of financial worries and relax knowing that your financial needs are taken care of.  Helping you enjoy a hassle free retirement life is LIC International’s Pension Plan, which will provide for a regular income for yourself and your dependants during your old age.

Benefits:

On vesting date

1. Under this plan insurance cover is up to vesting date of pension
2. On pension commencement date the sum assured along with the vested bonuses will be converted into annuity as per annuity type and mode of annuity chosen by the policy holder.
3. Commutation is another facility, on pension commencement date, the policyholder has an option to commute the entire or part of the sum assured plus vested bonus. However, the option of commutation will not be available if the policy is transferred to LIC of India.
4. On vesting, the annuity will be paid in yearly, half-yearly, quarterly, or monthly Installments subject to minimum annuity installment of US$265. If the annuity payable is less than the minimum of US$ 265, the company will have the right to change the mode of payment of annuity to yearly, half-yearly, quarterly or to pay a lump sum.

In case of death

During deferment period

In case of unfortunate death of the policyholder during the Deferment period, an amount equal to sum assured along with vested bonus, if any, will be paid to the nominee in lump sum, provided the policy is in full force.

After deferment period

The type and mode of pension is to be chosen by the policy holder at the begging of pension hence, payment in case of death after pension start is depend on the option chosen by the policy holder.

Accident Benefit

The Policyholder has an option to choose Accident Benefit during the term of the policy or up to the age of 70, whichever is earlier. In case of total and permanent disability arising as a result of an accident, all future premiums to the extent of sum assured equivalent to accident benefit sum assured are waived and an amount equal to accident benefit sum assured will be paid in equal monthly installments spread over for 10 years.
In the event of unfortunate accidental death during the term, an additional amount equal to accident benefit sum assured is paid along with the claim.

Eligibility conditions

Age at entry	:	Min. 30 years (completed) Max. 65 years
Minimum age at vesting	:	40 years (age last birthday)
Maximum age at vesting	:	75 years (age last birthday)
Minimum deferment period	:	5 years for regular premium policies 10 years for limited premium policies
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Maximum deferment period	:	20 years
Premium Paying terms	:	5 years to 20 years
Minimum sum assured	:	US$ 5,000
Sum assured under the plan shall be in multiples of US$ 1,000

Premium Payment

You can choose to pay the premium through out the term of the policy or you can pay it off in five years. Premium can be paid in yearly, half-yearly, quarterly and monthly installments to suit your convenience.

Easy Financing

Premium Sealing is a facility to pay advance premium for a period of up to 5 years in lump sum at an attractive discount and keep policy in force, relieving the policyholder from hassles of record/account keeping. In case of claim, the unutilized portion of lump sum money, if any, will be refundable. Commutation Facility provides a special discount for making payment of premium for remaining policy period in lump sum.

Paid up Value

If you are unable to continue the payments of premiums due to unforeseen circumstances at any time after you have paid premiums for three years in case of full term and two years in case of limited term, your policy will be converted into a reduced paid up policy for reduced pension.

Portability for Indian policy holder

A special and unique facility available only to our Indian policy holders to get their policies serviced at any of the branches of Life Insurance Corporation of India provided at least two full year premium has been paid and adjusted. LIC of India’s pension plan will be purchased from policy value as single premium.