According to the salesperson, you need to stay invested in the product for at least 15 years to get the pension benefits and the assured Rs 1 crore.
At the rate of Rs 4000 a month, you will invest Rs 48000 a year for 35 years, that is Rs 16.80 lakh. This will be the life cover.
Only if you stay invested all through the term will you get the guaranteed amount of Rs 1 crore.
The 35-year term can even be brought down to 21 years by increasing the per-month payout.
If you are not convinced about the product, the salesperson would say, buy it on behalf of your son or daughter.
Otherwise, the salesperson has another option, where you can get a pension of Rs 8000 a month after the term, if you pay Rs 4000 for 15 years.
Image: This man, though, has to keep an eye on the markets to secure his future.