INL Saral Pension 

This option can be purchased for joint lives, i.e. a primary and a secondary annuitant with spousal relationship. under this option, the annuity amount shall be payable in arrears, as per the chosen annuity payment frequency, as long as the primary and/or the secondary annuitant is alive. On death of either the primary or the secondary annuitant, provided one of them is surviving, no death benefit is payable, the surviving annuitant shall continue to receive the annuity amount throughout his/her life. On death of the last surviving annuitant, the annuity payments shall cease immediately, 100% of the purchase price (i.e. single premium)shall be paid to the claimant as a lump sum benefit and the policy will terminate. There is no maturity benefit available under this plan