Explanations:Sanchay Plus is a retirement savings scheme offered by the Life Insurance Corporation of India (LIC). It is designed to provide financial security to individuals in their retirement years. The scheme offers various income options, each with its own set of terms and conditions, including specific age restrictions.
The Guaranteed Income Option, Long Term Income Option, and Life Long Income Option are three of the income options available under Sanchay Plus. Each of these options is designed to provide a regular income stream to the policyholder, but they are subject to certain eligibility criteria, particularly regarding the age of the policyholder.
For the Guaranteed Income Option, the policyholder must be within a specific age range to be eligible. Typically, this range is set to ensure that the policyholder is not too close to retirement age, as the option is designed to provide a guaranteed income over a specified period. Similarly, the Long Term Income Option and the Life Long Income Option also have age restrictions that are designed to ensure the financial viability of the policy for the insurer.
In the context of the question, the individual in question is 65 years old. According to the terms and conditions of Sanchay Plus, individuals aged 65 are not eligible to purchase any of the income options mentioned. This is because the policy is structured to cater to individuals who are still in their working years and have a reasonable life expectancy to benefit from the income stream provided by the policy.
Therefore, the correct answer is "None of the above," as none of the Sanchay Plus options can be sold to a person aged 65. It is important to understand the specific eligibility criteria for each income option to avoid any misconceptions about the availability of these options to individuals of different age groups.