Max Life Insurance launches 'SWAG Pension Plan' with customisable annuity options

Max Life Insurance on Tuesday, January 23, launched 'Smart Wealth Annuity Guaranteed Pension Plan - SWAG Pension Plan'. This is a non-linked, non-participating individual/group general annuity savings plan which allows customers to tailor their own policies, choosing from an array of annuity options, the insurer said.

Further, the customers have the freedom to select from a range of 'Return of Premium' options, Max Life said.

Prashant Tripathy, Managing Director & CEO of Max Life, said, “With considerable demographic changes on the horizon, getting financially ready for retirement is becoming crucial for a vast majority of the India’s workforce. Through the plan's customisable features and distinctive variants, individuals can proactively shape their retirement journey."