A Non-Linked, Non-Participating, Single Premium, Individual Immediate Annuity Plan
Immediate Annuity plan
This is immediate annuity plan with options to choose type of Annuity.
Guaranteed Annuity
The annuity rates are guaranteed.
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:
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:
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.