Once your pension policy matures, your maturity amount will be used to give you pension income. 6 months prior to your pension policy maturity date, we will send you details of the pension option available on your policy, the indicative value of the pension income you will receive and a list of documents that you need to submit.
Following this, you should indicate your preference for the following two points:
- Maturity amount that you want to get pension income from. You can use the entire amount to get pension or withdraw up to 33.33% as a lump sum and use the balance to get pension.
- Pension option from which you would like to receive pension income. There are many options from which you can choose, such a Immediate Annuity with Return of Purchase, Limited pay with Guaranteed benefit on Maturity etc
Along with the form, you will also need to send a few documents. Please note that pension income on your policy, will start after policy maturity and only after we receive all your documents and your preferred pension options.