Softlogic Life Retirement Plan (Retire with Pride)
The product provides retirement options to the policyholder where they can choose to receive the accumulated fund balance as a lump sum or as an annuity payment upon reaching retirement age. The annuity options are 10 years certain, life time or two joint life time options. There is a minimum guaranteed benefit in each case but the actual retirement benefit could be higher depending on the performance of the fund. The Policy holder has the option of paying a single premium or regular premiums in order to build up the retirement fund. The policy holder is provided with a life cover as well as premium protection benefit (for regular premium policies) at no additional cost and is able to include additional riders as with existing conventional products.
Regular Premium Plan
Single Premium – Differed Annuity
Single Premium – Immediate Annuity
Below mentioned optional rider covers are applicable to offer with this product,