BT Insight: Simplicity, liquidity key features of IRDA's Saral Pension Yojana
The Saral Pension policy can be surrendered any time after six months from the date of commencement, if the annuitant or the spouse or any of the children of the annuitant is diagnosed as suffering from any of the critical illnesses specified in the policy document
KEY HIGHLIGHTS
The scheme comes with one-time lump sum purchase and return of purchase price
Only two annuity options - single life annuity, joint life annuity
One may take loan against the policy after six-month of the purchase
Surrender option is available in case of a critical illness of a family member