Retirement plans, thereby, help you provide a financial shield to let you live life with pride and a comfortable lifestyle post-retirement. There are different retirement plans and each comes with unique features and benefits, and hence it is important to understand what your plan offers as well as its claim process.
This is the age when you start receiving your regular pension. Usually the minimum vesting period ranges from 40 years and 50 years. This age is flexible up to 70 years. But, few companies do extend the vesting age up to 90 years
During this period you start receiving the pension post retirement. Say for instance, you receive the pension from the year 61 to 86. Thus, your payment period would be 16 years. Mostly the payment period is separate from the accumulation period.
This is the period when you as an investor pays either regularly or once in this entire period. This phase is the wealth accumulation phase for building huge corpus.
This is the value that your retirement plan acquires on the day you decide to stop paying the premiums in the middle of the policy period.. This would result in losing the retirement plan benefit of the sum assured as well as the life insurance cover.
Buying a life insurance plan is vital; equally vital is knowing the claim process. Mentioned below are the 3 simple steps to make a retirement plan claim:
Attach the supporting documents mentioned below while submitting the claims form
Yes, it is possible for NPS subscribers to now change their investment options as well as the allocation ratios for their corpus twice in a financial year. Currently, such changes are possible only once in a financial year.
You very well know that you’ve paid for it but are hoping to never require using it! When you file an insurance claim, you probably have suffered some type of loss or damage that is insured by your Insurer. This is when your Insurer offers you coverage and compensation for the losses covered or for the damages after validating your claim. So it is vital to be familiar with the claim process to avoid any headache at the later stage.
You may have bought an insurance policy, yet have thousands of queries and doubts. Our ‘Your Policy’ section is the fastest way to resolve your insurance related doubts and queries. All you need to do is attach your active insurance policy and write to us about your queries. We never let our customers down.
Many questions may come in your mind before buying an insurance policy. ‘How much insurance I would need, how many years I shall invest for, what would be the premium, etc.. Insurance Calculators are life-savers. They help you know your insurance needs and assess the potential costs. Grey Font brings to you various Insurance Calculators and interactive tools to help you calculate your insurance needs. In order to get better results, ensure to enter a value in all the possible fields.
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