Brochure

A Non-Linked, Non-Participating, Single Premium, Individual Immediate Annuity Plan

Immediate Annuity plan

Guaranteed Annuity

Advantages

Return of Purchase Price to Nominee
Loan Facility

Eligibility Criteria:

Minimum Age at Entry :
40 years (completed)
Maximum Age at Entry: 80 years (completed)
Minimum Annuity:

Annuity Mode

Monthly

Quarterly

Half-yearly

Annual

Minimum Annuity

Rs. 1000 per month

Rs. 3000 per quarter

Rs. 6000 per half year

Rs. 12000 per annum

Minimum Purchase Price: Minimum Purchase price shall depend on the Minimum Annuity as specified in above, Option chosen and age of the Annuitant.

Maximum Purchase Price: No Limit

Note:

1) The Joint Life Annuity, i.e. Option II, can be taken with spouse only.

2) For Joint life annuity options, age of spouse shall also be subject to Minimum Entry age and Maximum Entry Age as specified above.


Benefits payable under above options are:

 

Options

Benefits

Option I

• The annuity payments shall be made in arrears for as long as the Annuitant is alive, as per the chosen mode of annuity payment.

• On death of the annuitant, the annuity payment shall cease immediately and 100% of Purchase Price shall be payable to nominee(s)/legal heirs.

Option II

• The annuity amount shall be paid in arrears for as long as the Annuitant and/or spouse are alive, as per the chosen mode of annuity payment.

• On death of the last survivor, the annuity payments will cease immediately and 100% of Purchase Price shall be payable to the nominee(s)/legal heirs.

 

Annuity Options:

Option I: Life Annuity with Return of 100% of Purchase Price.

Option II: Joint Life Last Survivor Annuity with Return of 100% of Purchase Price on death of the last survivor. Annuity option once chosen cannot be altered.