life insurance, IDBI Federal Life Insurance, life insurance online, Term Insurance plan, insurance plan, term insurance, mic, my insurance club, Saral Jeevan Bima, term insurance, life insurance, IRDAI, COVID-19 pandemic, saral jeevan bima yojana, saral jeevan bima yojana LIC,life insurance, IDBI Federal Life Insurance, life insurance online, Term Insurance plan, insurance plan, term insurance, mic, my insurance club, Saral Jeevan Bima, term insurance, life insurance, IRDAI, COVID-19 pandemic, saral jeevan bima yojana, saral jeevan bima yojana LIC,The Saral Pension Plan offers an option of single life and joint life immediate annuity with a return of premium.

Today, Ageas Federal Life Insurance, formerly known as IDBI Federal Life Insurance, announced the launch of its Saral Pension. The pension plan is a single premium, non-linked, non-participating, individual, immediate annuity plan.

The company claims that the Saral Pension Plan will help policyholders prepare a personal annuity plan not only for themselves but also for their spouse. It offers an option of single life and joint life immediate annuity with a return of premium. The Saral Pension plan intends to offer peace of mind during one’s retirement days where the individual is assured of a guaranteed regular income and contentment during their retirement years.

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The Saral Pension plan aids in preparing a personal annuity plan for self and spouse. It also offers the option of single life and joint life immediate annuity with a return of premium.

Key Benefits of the plan:

• Life Annuity with 100 per cent return of purchase price
• Joint life annuity with return of 100 per cent purchase price on death of the last survivor
• Option to surrender
• Guaranteed annuity payout
• Annuity payout as convenient

Karthik Raman, CMO and Head – Products, Ageas Federal Life Insurance says, “The plan helps us offer our customers a much-needed product for their retirement readiness. Retirement is when one chooses to leave the workforce behind permanently. However, the house still needs to be run and it is also a time when medical expenses are on the rise, hence a steady income post-retirement becomes a necessity.”

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