IRDA Pension
 

Can you provide me the guidelines for Pension Products under Pension Policies as given by IRDA or Insurance Regulatory and Development Authority?

Re: IRDA Pension
 

Pension under Pension Policies as given by IRDA or Insurance Regulatory and Development Authority products provide financial security through a stable retirement income.

With a view to protecting the interests of policyholders, IRDA has issued guidelines to the life insurance industry which provides these products.

They include:
All pension products shall have a clearly defined assured benefit at the time of sale an assured benefit applicable on
 Death
 Surrender and
 Vesting

The assured benefit is not be less than 0%
This benefit is utilised on the date of death, surrender or the vesting date as stipulated.
Pension products have an insurance cover throughout the deferment period or may offer riders

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