From the second year/month of the policy, the insured person will get a guaranteed amount as an income by paying a premium only once in the pension plan and this guaranteed amount will continue to be received till the insured is alive. The pension plan also offers different options, some of which are given below.
Once the premium is paid, you will get a guaranteed amount from the second year/month of the policy till the person is alive.
Once the premium is paid, a guaranteed amount will be given from the second year/month of the policy till the insured dies and the premium paid will be given back to the nominee when the insured dies.
If the premium is paid only once, a guaranteed amount every year/month after the policy period of 1 to 10 years will be paid plus at the time of death of the insured the premium paid will be paid back to the nominee.
All the three options mentioned above can also be taken for joint life.
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