Systematic Pension Plan KA 1

1. Vesting benefit on surviving the policy term in HDFC Life Systematic Pension Plan will be the higher of: Select the correct answer from the list below.

• Sum Assured on Vesting + Accrued Reversionary Bonus + Interim/Terminal Bonus, if declared

• Assured Benefit on vesting which is equal to the total premiums paid accumulated at 4% per annum compound

• Higher of the first or the second options above

• None of these

2. In HDFC Systematic Pension Plan, ____________ gets added to your pension corpus due to participation in the profits of the insurer. Select the correct answer from the list below.

• simple bonus

• terminal bonus

• compound bonus

3. A customer participates in the profits of the participating fund of the company through HDFC Life Systematic Pension Plan. What does he or she get in return? Select the correct answer from the list below.

• Regular income

• Bonuses declared by the company

• Exceptionally high pension

4. In HDFC Life Systematic Pension Plan, a prospect can choose: Select the correct answer from the list below.

• Premium payment term

• Death benefit option

• Bonus options

5. Mr. Zeeshan, 40, has chosen for the single premium payment option of HDFC Life Systematic Pension Plan. He pays a single premium of ₹ 10 Lakhs and remains invested in his policy for the next 25 years. At 65, the age of vesting: a) He will receive a maximum of 60% of the corpus as commuted amounts completely tax-free b) He will have to invest at least 40% of the remaining corpus in annuity; he will then receive annuity for life as per the desired frequency Identify if the above statement is true or false.

• TRUE

• FALSE

6. HDFC Life Systematic Pension Plan provides regular income plus life cover - is this the right sales pitch for the product? Select the correct answer from the list below.

• Yes

• No

7. In HDFC Life Systematic Pension Plan, sum assured on vesting is an amount which is guaranteed to become payable on vesting of the policy, and is calculated as: Select the correct answer from the list below.

• For Single Pay, Sum Assured on Vesting = Single Premium Paid

• For Limited / Regular Pay, Sum Assured on Vesting = Annual Premium multiplied by the Premium Payment Term

• Both of these

8. HDFC Systematic Pension Plan gives capital guarantee with assured returns of at least _____. Select the correct answer from the list below.

• 4%

• 6%

• 8%

• 9%

9. What happens in an HDFC Life Systematic Pension Plan when the Death Benefit has been paid to the nominee of a policyholder? Select the correct answer from the list below.

• No further benefits remain payable and the policy terminates

• A fresh policy is mandatorily created in the name of the nominee

10. Why is HDFC Life Systematic Pension Plan an advantage for the average pension seeking customer? Select the correct answer from the list below.

• Because he or she gets pension for a long time

• Because he or she participates in the accumulation of their pension