Pension policies come with vesting benefits. Therefore, the policyholder will be able to utilise the entire Policy Fund Value to purchase the annuity product from another insurer (Open Market Option).
Alternatively, the policyholder can utilise at least 2/3rd value of the Policy Fund Value to purchase the annuity product from another insurer (Open Market Option) and withdraw the balance amount.
Note: You need to submit the Pension Payout declaration, personalized cancelled cheque/ clear copy of your bank statement and KYC documents at your nearest Bharti AXA Life Insurance branch office for processing the benefit on the Pension Policy.