There is no feeling more incredible than the prospect of leading a financially independent retired life with the freedom to explore all that had been sidelined during the hard toil of working life. A smart choice that ensures a guaranteed steady income stream in the golden twilight years is to buy Canara HSBC Pension4Life to indulge all the desires unhindered. The Canara HSBC Pension4Life Policy is an annuity plan which provides annuity installments against a purchase price in a structured manner. The array of options lined up in this policy is so vast enough to leave a savings legacy for the next generation. True to its name, the cover continues till the insured and the partner is alive.
|Policy Tenure||Single Life: Till the death of the annuitant, CI diagnosis, or ATPD, whichever is earlier
Joint Life: Until the last annuitant survives.
|Premium Paying Term||Purchase price accepted as a single premium|
|Premium Paying Mode||Annuity received in Yearly, Half-yearly, Quarterly, or Monthly.|
|Entry Age||Minimum: 45 years Maximum: 80 years for some options while there is no limit for some; as per plan option|
|Maturity Age||Till the insured and the partner is alive|
|Grace Period||Not specified|
|Sum Assured||Purchase Price:
|Liquidity||Under this policy, a loan is available under Annuity Option 6 - 'Deferred Life Annuity with Return of Purchase Price' during the Deferment Period once the Policy acquires a Special Surrender Value.|
Since this policy works on the principle of the purchase price, very similar to the Single Pay option of premium payment, the Canara HSBC Pension4Life Policy status check is not necessary.
The policy offers seven options, with the primary classification of annuities either immediate or Deferred.
*Tax benefit is subject to changes in tax laws
The Canara HSBC Pension4Life premium is available as an Annuity Installment against the Purchase price.
*Standard T&C Apply
Individuals can use the Canara HSBC Pension4Life calculator to determine various annuity installments under the plan.
A great way to update the features is through the Canara HSBC Pension4Life reviews. On a thorough study, it is found that there are no additional riders on offer other than those inbuilt in the plan option no.4 for single life.
Maturity Age: Until the secondary annuitant (partner) survives.
Only the following copies of Official Valid Documents are accepted in the plan. However, the insurer may call for additional documents if required.
The online Canara HSBC Pension4Life option is available at the insurer portal. The steps to purchase the policy are: