Financial Daily from THE HINDU group of publications
Saturday, Mar 08, 2003
Financial Daily from THE HINDU group of publications Saturday, Mar 08, 2003 |
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Money & Banking
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Pension Plans Max NY Life's pension plan Our Bureau
NEW DELHI, March 7 MAX New York Life today launched `Easy Life', a plan to help people meet their post-retirement financial needs. The plan allows customer to choose his retirement any time between 50 and 70 years of age through three annuity options that help him plan his monthly retirement income. The fixed monthly income is guaranteed for life in the year of vesting. The retirement plan also offers a tax benefit to the customer under section 80CCC (i) on a premium of up to Rs 10,000. The entry age for the plan would be 20-60 years, with the vesting age being between 50-70 years. The sum assured can range from Rs 1 lakh -- Rs 10 crore. The premium can be paid either half-yearly or annually.
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