It is an Immediate Annuity plan, which can be purchased by paying a lump sum amount.
The plan provides for annuity payments of a stated amount throughout the life time of the annuitant.
The policy does not acquire any paid-up value. No surrender value will be available and No loan will be available under the policy.
||Rebate of 1% by way of increase in the basic annuity rate will be available.
||Starts as early as next month.
||Pay - Once - Enjoy - Forever
||Minimum purchase price : Rs.1,50,000/-
No maximum limits for purchase price, annuity etc.
|Incentive for High Purchase Price
||If your purchase price is Rs. 2,50,000/- or more, you will receive higher amount of annuity due to available incentives.
||Minimum age at entry: 30 years
Maximum age at entry: 85 years
Age proof is necessary
||No medical examination is required.
||Seven options of annuity to choose from.
||Annuity may be paid either at monthly, quarterly, half yearly or yearly intervals. You may opt any mode of payment of Annuity.
You may choose any one from the below mentioned annuity options
Please note - Once chosen, the option cannot be altered.
||Annuity payable for life at a uniform rate.
||Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as the annuitant is alive.
||Annuity for life with return of purchase price on death of the annuitant.
||Annuity payable for life increasing at a simple rate of 3% p.a.
||Annuity for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
||Annuity for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
||Annuity for life with a provision of 100% of the annuity payable to spouse during his/ her life time on death of annuitant. The purchase price will be returned on the death of last survivor.
Amount of annuity payable at yearly intervals which can be purchased for Rs. 1,50,000/- under different options is as under:
|Age last birthday
||Yearly annuity amount under annuity option