INL Nishchit Pension Pro

The IndusInd Nippon Life Nishchit Pension Pro Plan is a Non-Linked Non-Participating Deferred Annuity Single Premium Plan.  A plan that ensures guaranteed lifelong income by planning early for the golden years for your life. With INL Nishchit Pension Pro, you can now be financially prepared for the second innings of your life

The plan offers a choice of six plan option at inception of the policy.
1.    Single Life Annuity
2.    Single Life Annuity with Return of Premium plus CI/TPD benefit
3.    Single Life Annuity with Certain Period of 10 years
4.    Single Life Annuity with Certain Period of 15 years
5.    Joint Life Annuity
6.    Joint Life Annuity with Return of Premium plus CI/TPD Benefit 

During Deferment Period
All Annuity Options:
No Annuity payment shall be made during the deferment period
Option 1 & 2: 
Annuity payment shall be made in arrears as per the chosen payment frequency as long as the annuitant is alive
After Deferment Period
Option 3 & 4:
Annuity payment shall be made in arrears as per the chosen payment frequency and shall be payable till the death of the Annuitant or till the completion of the chosen Certain Period (10/15) whichever is later.
Option 5 & 6:
Annuity payment shall be made in arrears as per the chosen payment frequency as long as either one of the annuitant(s) are alive.

In case of unfortunate death of the annuitant(s) provided the Policy is In-force, the Claimant(s) shall receive:
 

The policy terminates on payment of the death benefit to the Claimant(s).

Critical Illness / Total Permanent Disability Benefit available under plan option 2 & 6
In the event of diagnosis of any one of the covered Critical Illness (CI) or on occurrence of Total Permanent Disability (TPD) to the Annuitant, before the attainment of the age of 80 years, the following shall apply:
o    During Deferment Period: The Annuitant shall have an option to either continue the policy or terminate the policy by taking the CI/TPD benefit equal to higher of Total Premiums Paid and Surrender Value. 
o    Post Deferment Period: The Annuitant shall have an option to either continue the policy or terminate the policy by taking the CI/TPD benefit equal to Total Premiums Paid.