| Deferred Annuity Plan |
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Each individual needs to have a comprehensive financial plan to provide a hassle free retired life. With the pension plan of LIC (International) you can now provide for a regular income for yourself and your dependants during your old age.
The plan is available under two options, viz., WITH LIFE COVER and WITHOUT LIFE COVER.
Benefits On Vesting (Pension Commencement Date)
Under the WITH LIFE COVER as well as WITHOUT LIFE COVER options, on vesting (pension commencement date), the sum assured along with the vested bonuses can be converted into annuity. The type of annuity and the Rate of Annuity will be that available at the time of vesting.
Commutation
Alternatively, at the time of vesting, the policy holder has an option to commute the entire or part of the corpus, if the policy is continued with LIC (International).
Death Benefits
Under WITH LIFE COVER option, in case of unfortunate death of the policy holder during the deferment period, an amount equal to Sum Assured along with vested bonuses, if any, will be paid to the nominee in lump sum, provided the policy is in full force,
Under WITHOUT LIFE COVER option, in case of unfortunate death of the policy holder during the deferment period, premiums paid will be returned with interest at such rates as decided by the company from time to time.
Other Features of this plan
 Portability
Loan
facility (Only with Life Cover Option)
Accident
Benefit (Only with Life Cover Option)
Flexible
options in Premium |
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Child Education
/ Marriage Plans