The product provides retirement options to the policyholder where they can choose to receive the accumulated fund balance as a lump sum or as an annuity payment upon reaching retirement age. The annuity options are 10 years certain, life time or two joint life time options. There is a minimum guaranteed benefit in each case but the actual retirement benefit could be higher depending on the performance of the fund. The Policy holder has the option of paying a single premium or regular premiums in order to build up the retirement fund. The policy holder is provided with a life cover as well as premium protection benefit (for regular premium policies) at no additional cost and is able to include additional riders as with existing conventional products.