- It is a non-participating and Unit Linked Pension Plan with a Unique Identification Number (UIN).
- The investment options include Pension Bond Fund, Pension Balanced Fund, Pension Secured Fund, Pension Discontinued Fund, and Pension Growth Fund.
- The minimum entry age is 25 and the maximum entry age is 75.
- The minimum vesting age is 35 and the maximum vesting age is 85.
- The minimum policy term is 10 years and the maximum policy term is 42 years.
- The minimum premium varies with the frequency of payment.
- For monthly payments, the minimum premium is Rs 3,000
- For quarterly, it is Rs 9,000
- For half yearly, it is Rs 16,000
- For yearly payments, it is Rs 30,000.
- There is no cap on maximum premium.
- In case of the death of a policyholder during the policy term, an amount higher than the fund value and 105% of the total premium paid, will be paid to the nominee.
Question:
Q.1 New Pension Plus is launched by?a. LIC
b. SBI
c. HDFC
d. PNB
