WorksheetsPension
Total questions: 20
Worksheet time: 11mins
What is 2 variant available in PGP plan?
Immediate and Deferred
Life annuity and return of ROP
Increasing annuity and early ROP
Early options available at which age in smart pension plus?
At age of 85 year
At age of 75yr , 80yr and 76 to 95yr
At age of 99year
Advanced Annuity - when is the Option to withdraw present value of annuities as a lump sum at smart pension plus ?
payable in next 1 to 5 years in advance
payable in next 1 to 15 years in advance
payable in next 1 to 10 years in advance
Liquidity In smart pension plus- To enhance liquidity under the contract, option to receive a lump sum in return of reduction in annuity payments and other benefits (Only for LA with x% ROP)
only after completion of the 5 years from the first annuity
Total lump sum benefit availed cannot exceed 60% of the total premiums paid
Both correct
option one is correct
option two is correct
Both incorrect
True or False-
At smart pension plus Loan can be availed under the options where there is a Return of Premiums Paid..
False
True
Sanchay Legacy is pure retirement plan.
True or False
False
True
chose correct Smart Pension plus variant from below.
Immediate Life Annuity
Immediate Life Annuity with Return of Purchase Price
Deferred Life Annuity with Return of Purchase Price
Life Annuity with Return of % of Total Premiums Paid
chose correct PGP from below.
Life Annuity with Return of % of Total Premiums Paid
Life Annuity with Early Return
Immediate Life Annuity
How much corpuses can used to take out as tax free from pension plan
40%
60%
How Death Benefit during Deferment work on smart pension plus-Life Annuity with Early ROP?
The death benefit shall be higher of: • Total Premiums paid accumulated at 6%p.a. till the date of death • 105% of Total premiums paid till date of death
The death benefit shall be higher of: • Total Premiums paid accumulated at 6%p.a. till end of deferment period less Total Annuity Payouts made till date of death • Total Premiums paid LESS Survival benefit on milestone age(s) already paid till date of death.
In case of sad demise of the life assured during the Annuity Payout Term, Sum Assured on Death will be paid as a lump sum to his/her family and the policy will terminate.
chose correct Features of smart pension plus..
Single Life
Early Returns
Immediate returns
The date when the annuity payment starts is called the Vesting Date. True or False
False
True
A person who takes annuity is called an
(a)
Tax Benefits: at Pension plan correct or incorrect
Deduction u/s 80CCC for premium paid + 60% Commutation Exempt under section 10(10A)(iii)
Correct
Incorrect
U/W- above statement is true or false,
income of the life to be insured is considered to arrive at financial eligibility and not of the proposer
True
False
u/w- Non fasting medicals up to ___ insurance covers for age up to___ Years for standard lives in C2PE.
Rs. 1 Cr and 60 Years
Rs. 5 Cr and 55 Years
Rs. 2.5 Cr and 85 Years
u/w-Income proof is not required for age up to 45 years and total cover of 50 lacs at C2PL,
True or false.
True
False
A-Accumulation Phase -You save for an annuity either with a lump-sum or a series of payments over a set period
B- Annuitization Phase-You begin to receive annual or monthly payments from the date of vesting.
Both incorrect
Both correct
A Correct
B correct
Can top up options are available in smart pension plus and PGP both?
Yes
NO
The annuity option and payout frequency for the top-ups will be the------- as that of the initial single premium paid.
(a)
