Softlogic Life Corporate Pension Plan
This is a fund based non-participating universal life endowment product and will be issued as an Individual policy issued for the employees at large groups, targeting Mid- Level employees in the private sector. The product is designed to provide protection as well as a retirement benefit to the target market. This will be targeted as an Employee Retention Plan enabling the early retirement benefit to the corporate sector employees. Following are some of salient features of the product;
Pension Receiving Age can be selected any time at the policy inception subject to minimum term of 5 years.
There are three different variants of product types according to the policy term as follows;
Accumulated Fund value as a lump sum at the retirement age of the policyholder or as Annuity Payments as follows;
Top up Premiums Allowed after first 12 months of the policy (Max 2 Times per Year Minimum top up premium LKR 10,000)
There’s an inbuilt waiver of premium benefit on Accident and Sickness at the time of Total and Permanent Disability.
In the event of death of the Life Assured, Nominee will receive sum assured or investment account value whichever is higher as a Death Benefit.
Below mentioned optional rider covers are applicable to offer with this product;