Astha
Pension Plan
People in all professions eventually had to leave their golden years of youth and retire from professional life; it is a hard reality of life which must be embraced. In contrast to the assurance of social shelter and sympathy for the aged, financial security is the most important thing in later life. It might not be possible to meet all of your demands if you solely rely on resources and your kids to get through the time of emergency.
Feature & Benefit
The insurer will get lifetime pension from the starting period of pension. In that case there are two options:
- On completion of the term the insured will enjoy the pension benefit every month.
- On completion of the term, the insured will surrender 50% of ten times the annual pension as cash benefits and the remaining 50% as pension
After paying premium for at least two years, the policy can be converted to a lump sum assured.
The policy earns surrender value after paying premiums for at least two years.
The written demand will be subject to the company's announced cancellation policy and a grace period of 30 days will apply. If the premium method is monthly, the grace period will be 15 days.
1. Death claims are exempt from income tax.
2. 5% tax is applicable at source on the excess of insurance claim amount excluding gross accumulated premium on maturity.
3. Income tax rebate will be available on vested premium while filing personal income tax return.
Supplemental life insurance is an additional layer of coverage that you can purchase alongside your existing life insurance policy. These riders can be added to your primary life insurance policy for added security and can enhance your overall protection.
- Accidental Death Benefit (ADB): This rider provides an extra payout if the insured person dies due to an accident.
- Permanent Disability and Accident Benefit (PDAB): offers coverage for permanent disabilities resulting from accidents
- Health Insurance (HI): Unforeseen medical expenses and other life costs can arise unexpectedly, often at the most inconvenient times. AsthaLife's supplemental health plans provide cash benefits to assist you in covering various everyday expenses, offering a sense of security and peace of mind.
- Critical Illness (CI-8): Critical illness insurance is a form of supplemental insurance that provides coverage for expenses not typically covered by your standard health plan. Its purpose is to create a monetary safety net in case you face a medical diagnosis that could result in expensive treatments or other financial hardships.
In case of policy lapse, Company's standardized underwriting rules shall be followed with 30 days grace period option.
When you purchase a life insurance policy, you agree to pay a specific sum of money, known as the premium, to the insurance provider at regular intervals. The frequency or period of your payments depends on your chosen mode of premium. AsthaLife offers several modes of premium payment for the product Astha Shurakkha, including:
- Annual: You pay the premium once a year.
- Semi-annual: Payments occur every six months.
- Quarterly: You make payments every three months.
- Monthly: You pay the premium once a month.
Minimum 5 years and Maximum 40 years.
The policy owner's minimum age at entry shall be 40 years and maximum 60 years.
Product Video
