Guaranteed Pension Plan

Identify the sources of funding post retirement income for a prospect

• Goverment

• Employer

• Individual

• All the above

Guaranteed pension enables the customer to take advantages of

• Surrender even during the first policy year

• Bonus as the policy is related to par

• Non guaranteed high returns

• Tax benefit

Minimum and maximum age criteria for Guaranteed Pension Plan

• 35/65

• 35/66

• 35/67

• 35/68

Vesting benefit can be used:

Option A: Commute 60% of vesting benefit and buy an annuity

Option B: Buy an annuity using the full vesting benefit

• Only Option A

• Only Option B

• Both A & B

• None of the options

What is the guranteed additions of GPP policy?

• 2%

• 3%

• 4%

• 5%

In GPP, The minimum level of death benefit at all times will be ____of the

premiums paid

• 105%

• 106%

• 107%

• 110%

GSV (Guaranteed surrender value) will be acquired on payment of first ____year premiums in GPP

• 1

• 2

• 3

• 4

Can the vesting age be postponed or preponed in GPP?

• True

• False

Identify the condition apply to revive the GPP policy

• All the outstanding premiums and interest on the outstanding premiums

• Charges of Rs.250/-

• revival period shall be of five years

• All

Customer can have the option of choosing premium payment term in GPP.

• True

• False

• 5 to 14 years

• 5 to 18 years