GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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____ is the age at which the receipt of pension starts in an insurance-cum-pension plan.
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Vesting age
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Maturity age
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Starting age
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Surrender age
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Explanation:
Detailed explanation-1: -The age at which you start receiving a pension in an insurance-cum-pension plan is known as the ‘Vesting Age’. For most pension plans, the vesting age does not come into force until the annuitant is 55 years of age.
Detailed explanation-2: -The minimum age to opt for the plan is at 60 years and there is no maximum limit for entry age. The plan provides a minimum annuity payout of Rs. 6, 000 and a maximum annuity payout of Rs.
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