Standard Pension Plan Set
Annuity can be purchased from any life insurer
The Insurance Regulatory and Development Authority (Irda) has announced a standard pension plan that should be sold by all the life insurance companies.
Apart from the regular features, the new pension plan provides an interesting option in that the annuity under a pension plan can be purchased from any life insurance company and not only the one with which the policyholder has been saving his funds over the policy period.
The Irda standard pension plan has no life cover but this can be an optional extra in the form of a