Pension Plan
by National Life Insurance Company Limited
In simple terms: you pay a fixed amount each year, and at the end of the term you get your cover amount back together with the bonus the insurer adds along the way. National Life's Pension Plan is a long-term savings product that provides regular pension (annuity) benefits on maturity. After paying regular premiums the policyholder receives periodic pension payments; nominee death benefits are available.
Declared bonus
Rate by policy term
Declared FY 2077/78
| Policy term | Rate / 1,000 |
|---|---|
| 0-9 | Rs 64 |
| 10-14 | Rs 64 |
| 15-20 | Rs 64 |
| 21-25 | Rs 70 |
| 26-29 | Rs 85 |
| 30 and above | Rs 85 |
Bonus rates are declared annually and are not guaranteed. Past rates do not guarantee future rates.
Maturity estimator
Estimated value at maturity
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What's included
Key highlights
- Long-term savings with regular income
- Flexible premium terms
- Nominee protection (death benefit)
Features
- Provides regular pension / annuity
- Flexible premium payment terms
- Death benefit to nominee
- Multiple annuity payout options
- Optional riders available
What happens in each case
Each plan pays out differently depending on what happens during the term. These are the situations that matter for this kind of plan.
If the insured passes away during the term
The nominee receives the sum assured plus the bonus built up to that date, and the policy ends.
Typical for life insurance plans — confirm the exact terms in the brochure.
If the policy runs to maturity
You receive the sum assured plus the bonus built up to that date on the maturity date.
Typical for life insurance plans — confirm the exact terms in the brochure.
Optional riders
No optional riders are attached to this plan.
Questions about this plan
Who can buy Pension Plan?
The entry age for Pension Plan is 20 – 60 years.
How long does Pension Plan run?
The policy term for Pension Plan is 10, 15, 20,25,30,35 and 40 Years.
What bonus rate does Pension Plan earn?
For FY 2077/78, National Life Insurance Company Limited declared Rs 64–85 / 1,000 of sum assured on Pension Plan. Bonus rates are set each year and are not guaranteed.
Premium
Quote on request