WorksheetsTeam Meet @ Mangalore Life Branch
Total questions: 23
Worksheet time: 12mins
If an individual opts for HDFC Life Smart Pension Plus but is unable to pay his or her premiums, is he or she expected to get back any surrender value? Select the correct answer from the list below.
Yes, the policy acquires Guaranteed Surrender Value (GSV) immediately on payment of premium in case of Single Pay and on payment of at least two years’ premiums in case of Limited Pay.
No, the individual will have to pay all premiums and will then get back half of it in return
Mr. Zeeshan, aged 65 years, invests in HDFC Life Smart Pension Plus by paying a single premium of Rs15 lakhs for a whole life policy term. He opted for Life Annuity with 100% of the total premium paid. He wishes to receive his annual annuity immediately. What would be the death benefit payable to his nominee in case of his unfortunate demise?
Select the correct answer from the list below.
The nominee will receive 105% of the premium paid
The nominee will receive 100% of the premium paid
There is no death benefit in this plan
Mr. Ranbir is a 55-year-old engineer working with a private organization.
He is single and wishes to get an annuity plan such as HDFC Life Smart Pension Plus, along with his brother, Amol. Will it be possible?
Select the correct answer from the list below.
No, the product allows only single life
Yes, the product allows Joint and Single life options
Mr. Joe is a 45-year-old scientist. He has opted for HDFC Life Smart Pension Plus for a premium payment term of 5 years. He wishes to receive his annual annuity for his whole life after a deferment period of 10 years.
When will he start getting an annuity if he has chosen a monthly annuity payout frequency?
Select the correct answer from the list below.
One month after the end of the deferment period
One year after the deferment period
3 months after the deferment period
Mr. Pradeep is a 49-year-old businessman. He wants a plan that would give him an annuity as long as he is alive. Will HDFC Life Smart Pension Plus Plan be the right product for him?
Select the correct answer from the list below.
Yes, he will be able to get an annuity for the whole of his life
No, he will get an annuity for a limited period only
Ms. Kritika is 45. She is a professor at a government college. She wants to opt for HDFC Life Smart Pension Plus with the Life Annuity option. She wants her premiums to be returned at the end of the policy term.
What would FLS Rajeev say? Select the correct answer from the list below.
Return of premiums is not available in this option. She will receive annuity payouts for her whole life
She will get back all the premiums paid
Premiums can be waived off in case of a critical illness but not returned
Which of the following is a Key Benefits of Guaranteed Pension Plan?
Limited Pay Term
Vesting Addition
Guaranteed Additions
All of the above
In Guaranteed Pension Plan, on vesting, what the the maximum amount a customer can withdraw un Section 10(10a)iii?
40% tax free commutation
50% tax free commutation
60% tax free commutation
100% tax free commutation
Mr. Ashutosh is 45. He is an architect. He wants an annuity plan that increases his annuity every year which will enable him to maintain his lifestyle. Which option of HDFC Life Smart Pension Plus should FLS Deepak pitch to this customer?
Select the correct answer from the list below.
Life Annuity
Life Annuity with ROP
Increasing Annuity
None
You are on a sales call with a customer who is interested in purchasing HDFC Life Smart Pension Plus with Life Annuity Early Return. He wants to know what is the survival benefit he receives on choosing the sub-option of 5% of the total premium. As a sales representative, what would be your reply?
Select the correct answer from the list below.
On survival, the customer will receive an annuity for whole life and, at the age of 75, he will receive 5% of the total premium paid
On survival, the customer will receive an annuity post deferment period and 5% of the premium paid will be given to the nominee in case of death
On survival, the customer will receive the annuity less survival benefit of 5% of the total premium paid
Mr. Raj, 45, runs a printing business. He wants to buy HDFC Life Guaranteed Pension Plan with a targeted vesting age of 60. The policy will ensure life long security for Mr. Raj and his spouse, it requires minimum pay commitment and it offers guaranteed returns.
What else does the policy offer?
Select the correct answer from the list below.
Additional income
Extra income
Regular income
Income opportunity
A customer has an existing retirement plan from the employer. HDFC Life Guaranteed Pension Plan will still be necessary as the employer funded pension scheme will not suffice due to increased life expectancy and rising inflation. Identify if the above statement is true or false.
True
False
Customers need to buy HDFC Life Guaranteed Pension Plan because they would not get a __________ after retirement.
Select the correct answer from the list below.
Income
Loan
Insurance
Which of the following is a Key Benefits of Systematic Pension Plan?
Compounding bonus with Assurance of Returns
Choice of PPT
Unique Bonus Structure
All of the above
There is No Medicals in Systematic Pension Plan. Its Straight through issuance with no medical test requirement.
True
False
FLS Ravi wants to know the Premium Paying Options in Systematic Pension Plan . Which of the given options is correct ?
Single Pay
Regular Pay
Limited Pay (5 to 12 years)
All of the above
Which of the following is not a correct Key Value Proposition of Systematic Pension Plan ?
Flexibility to design your own Income/Retirement schedule
100% Tax-Free Commutation under section 10(10A)(iii)
No Medical and Financial Underwritin
Capital Protection with assurance of minimum 4% simple interest returns
With Systematic Pension Plan Customer will get bonuses declared by the company every year from the profits of its PAR fund with an Assurance of at least 4% compounding return on his investment.
Is this statement True or False?
True
False
Which opportunity does HDFC Life Systematic Retirement Plan allow to a customer with limited capital? Select the correct answer from the list below
To opt for premium payment and deferment period options of less than 5 years and derive additional annuity
To purchase an annuity without investing large capital which is facilitated through limited premium payment feature and premium payment options
In HDFC Life Systematic Retirement Plan, death benefit is payable after deferment in __________.
Select the correct answer from the list below.
Life annuity option
Life Annuity with ROP option
Both the plan options
HDFC Life Systematic Retirement Plan can be given to a customer within 24 hours and without medicals, subject to closure of Further Requests (FRs), if any.
Select the correct answer from the list below.
Yes
No
Identify the group of people who can opt for HDFC Life Systematic Retirement Plan on behalf of their parents and pay a part of their premium regularly to create a retirement kitty for them.
Select the correct answer from the list below.
Pre-retirees - 45 to 54 age group
Breadwinners - all age groups
Early adopters - 35 to 44 age group
Can Systematic Retirement Plan be bought under Employer - Employee scheme?
Yes
No, as pension plan are not allowed under EE scheme
