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About EZ Pension
A Unit Linked, Non-Participating, Individual, Pension Plan
UIN: 136L094V01
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER
In the midst of your busy working years, you're focused on providing the best for your family. But planning for your own future is just as important. This plan empowers you to build a retirement corpus helping you create a steady income stream for your golden years. It’s a smart step toward financial independence and peace of mind after retirement. Presenting Canara HSBC Life Insurance EZ Pension Plan, a product that provides the benefit of equity participation to potentially enhance your retirement corpus.
Key Highlights of EZ Pension
- Zero Allocation Charges: Enjoy 100% premium allocation to your chosen funds.
- Retirement Planning: Choose your retirement age and premium payment term to suit your financial goals.
- Fund Flexibility: Select from fund options as per your risk appetite.
- Unlimited Free Switches: Adjust your fund choices anytime during the policy term at no extra cost.
- Partial Withdrawals: Access funds in case of major life event, offering added flexibility.
- Avail Tax Benefits: You may avail tax benefits on premium paid and benefits received as per prevailing tax laws under Income Tax Act, 1961, as amended from time to time
Note: Please refer Product Brochure for further details
Benefits
Death Benefit
Higher of:
- Fund Value, if any, as on date of intimation of death, or
- 105% of all Premiums paid up to the date of death
The policy terminates on payment of death benefit
Vesting Benefit
On survival till the maturity date/vesting Date of the Policy, the Fund value is payable to the policyholder and the Policy will terminate.
Maturity Booster
This plan offers fund value related maturity boosters at the end of policy term.
Choice of Funds
Choose a Unit Linked Fund to cater to your investment needs. You can allocate your Premium to any, all or a combination of the Unit Linked Funds as per your risk preference.
Pension Debt Fund
Pension Nifty Alpha 50 Index Fund
How the Plan Works?
Step 1: Decide when you want to retire
Think about the age you'd like to stop working and start enjoying life on your terms
Age criteria
| Parameters | Minimum | Maximum |
|---|---|---|
| Entry Age | 18 years | 60 years |
| Vesting Age | 40 years | 75 years |
Step 2: Choose how long you want to pay (Premium paying term)
You decide how many years you want to contribute to your pension plan. The longer you pay, the more you save.
| Parameters | Description |
|---|---|
| Premium Paying Term (PPT) | Single pay Limited pay: 5 - 25 years Regular pay |
| Policy Term | 15 to 30 years (With minimum PPT + 5, for limited pay) |
Step 3: Select the premium payment mode and amount
Decide the premium payment mode depending upon your needs
Choose the premium amount you want to invest for the chosen premium payment term
| Premium Payment Mode | Minimum Premium | Maximum Premium |
|---|---|---|
| Single Pay | 5,00,000 | No Limit |
| Annual | 36,000 | No Limit |
| Half-Yearly | 18,000 | No Limit |
| Quaterly | 9,000 | No Limit |
| Monthly | 3,000 | No Limit |
Step 4: Select the fund based on your risk appetite
Step 5: Let your retirement corpus (vesting benefit) grow towards a worry-free retirement
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