POSTED BY July 17, 2012 3:04 pm ONE COMMENTON
I have Superannuation policy through my MNC. I want to know detail for withdrawal part. It would better if you can guide with example. Like if at the time of retirement my total amount with LIC is 5 lacs and I opt for life time pension,
(1) After my death what amount will be given to whom? How corpus will be calculated? Or pension will be given to nominee?
(1) Presently LIC is giving 9 to 9.5% return, the same will be given for pension also?
(2)You have written : “Corpus is what is left behind with LIC after commutation (max of 33% of total contribution +interest accrued can be commuted)” could you explain in detail?
(3) What is major negative points to opt Superannuation?