The plan works in two parts – the Accumulation Period (i.e. the Policy Term) and the Distribution Period. The Accumulation period is the time when you build up your funds through premiums payment.
On your chosen Vesting Date, the Accumulation Period ends and the distribution period begins. You are free to choose your age of Retirement (Vesting Date) between 45 and 70 years. After the Vesting Date, the Annuity Payments begin.
On your Vesting Date, you have the following Annuity Options to choose from
Life Annuity
Life Annuity with return of purchase price on death. Purchase Price is the amount of Fund Value used to purchase an annuity.
Life Annuity Guaranteed for 5, 10 or 15 years and payable for life thereafter
These options are currently available with Reliance Life Insurance Company Ltd. We may offer more annuity options in future.
How does Reliance Golden Years Plan work?
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