Bharti Life
Saral Pension

 

Let’s take a look at this case study

 

Mohit is a 58-year-old salaried employee nearing his retirement. He wants to ensure that he and his wife, Swati, are not a financial burden on their children. For his financial independence, Mohit wants to ensure he gets regular monthly income for the rest of his life, even after retirement. He also wants to secure his wife in case he was to die before her. Mohit opts for Bharti Life Saral Pension.

 

Case :

Mohit purchases Bharti Life Saral Pension under the Option 2 - Joint Life Last Survivor Annuity with Return of 100% of Purchase Price (ROP) on death of the last survivor. He opts for a monthly annuity pay-out of Rs. 6,380.78 for which he has to pay a one-time purchase price of Rs. 15,00,000.

 

One month after payment of his Purchase price, he would start receiving monthly annuity of Rs. 6,380.78 till as long as he lives. After his death, his wife would continue receiving monthly annuity of Rs. 6,380.78 for as long as she lives. On her death, her nominees or legal heirs would receive 100% of the purchase price^, i.e., Rs. 15,00,000 and the annuity would be terminated.

 

The above example is for offline illustration purpose only and prices stated are exclusive of tax.

 

Parameter	Eligibility Criteria
Min Age at Entry	40 years
Maximum Age at Entry	80 years
Minimum Annuity Amount	Monthly Rs. 1,000 Quarterly Rs. 3,000 Half-Yearly Rs. 6,000 Yearly Rs. 12,000
Maximum Annuity Amount	No Limit
Minimum & Maximum Purchase Price	As per Annuity Amount, Annuitant Age and mode of Annuity payment chosen. Minimum Purchase Price: Annuity Option 1:  Rs. 2,33,554 Annuity Option 2:  Rs. 2,45,902
Policy Term	This is a whole life product
Premium Payment Term	Only one mode of premium payment permitted under the policy - Single Premium, which is also the Purchase Price
Modes of Annuity Payment	Monthly, Quarterly, Half-Yearly, Yearly
This Product is also available for sale through Online mode.

 

Sample Purchase Price and Annuity Pay-outs (in Rs.)

Age	Purchase Price^ /Single Premium	Annuity Pay-out
		Annual	Semi-Annual	Quarterly	Monthly
45	800,000	42,782.88	20,963.61	10,267.89	3,422.63
50	800,000	43,056.80	21,097.83	10,333.63	3,444.54
55	800,000	43,322.16	21,227.86	10,397.32	3,465.77
60	800,000	43,570.40	21,349.50	10,456.90	3,485.63
65	800,000	43,792.96	21,458.55	10,510.31	3,503.44
70	800,000	43,964.16	21,542.44	10,551.40	3,517.13
75	800,000	43,981.28	21,550.83	10,555.51	3,518.50
80	800,000	43,981.28	21,550.83	10,555.51	3,518.50

The above purchase prices^/ Single Premiums are offline rates for Option 1 - Single life annuitant and are exclusive of applicable taxes or cess (if any).