There comes a time in life where you start considering a peaceful retirement.
With the ILA special retirement plan, you can enjoy a well deserved peace of mind while contemplating your family's advancement through life.
A guaranteed annuity for a fixed term, which helps you plan for your retirement years. Island Wealth ensures that you enjoy your retirement than endure.
|Minimum / Maximum age at entry||18 / 70 years (age next birthday)|
|Maximum age at maturity||N/A|
|Minimum Policy term*||12 years|
|Maximum Policy term*||35 years|
|Premium Payment term||6 ,10, 15 years|
|Income term||6 ,10, 15, 20 years|
|Premium pay-Income term (years)||6-6, 6-10, 10-10, 10-15, 15-15, 15-20|
|Premium payment option||Monthly / Quarterly / Half yearly / Yearly / Single|
|Sum Assured||100 times of Monthly Income (Level)|
|Maximum Age for Death Cover||
|Loyalty Reward||This benefit is payable at the end of the income term and is equal to
|Benefit Add-Ons||Total & Permanent Disability|
|Minimum Sum Assured (Rs)||100,000|
|Maximum Sum Assured||As per company's guidelines|
*Policy Term = Premium Payment Term + Income Term
|Download Brochure Get a quote|
1. Can the income be accelerated, ie paid before the end of the premium term?
This is possible only in the event of death during the premium payment term.
In such a scenario, the monthly income starts getting paid from next policy anniversary to the beneficiary for the full duration of the income term.
2. Is the income paid at month start or month end?
The income is paid at the end of every month.
3. Must the assured be alive at the end of the income term to receive the loyalty reward?
NO. The loyalty reward is paid at the end of the income term, whether the assured is alive or not.
4. When I opt for a lump sum, my monthly income reduces.
a. Does this reduce the death cover of 100 time’s monthly income?
NO. The death cover is based on the full unreduced monthly income.
b. Does this reduce my loyalty reward?
YES. The loyalty reward is based on the monthly income paid in the last income year.
5. What is payable in the event of policy cancellation?
If you cancel your policy during the premium term after paying 3 years’ worth of premiums, you are eligible for a surrender value equivalent to