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Sales Talk Pension Plus
Sales Talk Pension Plus
803)
( Sample Sales Talk )
Prospect: Well, what are the Maturity Benefits under this plan?
Agent :The date on which the policy term ends is called the ‘Date of Vesting’. On
this date, annuity is purchased from the maturity proceeds. The amount
available for purchase of annuity will be the higher of actual Policyholders
Fund Value and Guaranteed Maturity Proceeds.
Prospect: So, this amount is paid to me if all my premiums are paid within days of
grace. What if I am unable to pay the premiums within the days of grace?
Agent :If you are unable to pay the premiums upto the days of Grace, a notice
shall be sent to you within 15 days of the expiry of the days of grace to
exercise one of the following options within 30 days of receipt of notice:
(i) Revival of the policy
(ii) Complete withdrawal from the policy.
Prospect: What will be the status of my policy during the notice period?
Agent :The policy shall be treated in-force during the notice period. It is
important to note that all charges will be deducted during this period.
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Prospect: What if I decide to withdraw the policy?
Agent : It is always advisable to continue an insurance policy for its full term.
However, if you are unable to pay the premium due to some unfavourable
circumstances and need to terminate the policy before 5 years from
commencement, the monetary value(fund value less discontinuance
charge) of the policy shall be calculated. In case of Single premium plans
there are no Discontinuance charges, so in this case the Monetary Value is
equal to the fund Value. The amount so calculated will earn interest of at
least 3.5% p.a. from the date of withdrawal to the end of 5 years from
commencement. The amount along with the interest will be due to you
only at the end of five years which will be used by you to purchase annuity.
At the end of 5 years you have the option to commute one-third of the
pension.
Prospect: Can my father who is 70 years old also take the plan, Will the charges be
more for him?
Agent :This plan is available for any one between 18 to 75 years of age. The
vesting age is from 40 to 85 years and the minimum term is 10 years. The
charges will not be more for your father because of age, as there is no risk
cover and the other charges are not age specific.
Prospect: I would like to take this plan, as the money that I have in hand today will
help me supplement my future income. How do I go about taking the
policy.
Agent : I will assist you with the procedure. This is the Proposal form, I shall help
you with the process of submitting the proposal form and the consideration
amount. Thank you for your patient listening.
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PENSION PLUS : ELIGIBILITY CONDITIONS
Age at entry 18 to 75 years
Age at vesting 40 to 85 years
Minimum 10 years
Deferment
Term
Mode -» RP MLY (ECS) SP
Premium
Sum Assured NA