This plan offers an Immediate Annuity, allowing the Policyholder to select from 10 available annuity options by making a lump sum payment. • The annuity rates are fixed at the policy’s outset, ensuring regular payments throughout the Annuitant(s)’ lifetime. • This plan is available for purchase both offline and online.

Benefits

Option A • Annuity payments are made in arrears for the Annuitant's lifetime, based on the chosen payment mode.
• In the event of the Annuitant's death, no further payments are made.
Options B, C, D, E • Annuity payments are made in arrears for the Annuitant's lifetime, based on the chosen payment mode.
• If the Annuitant passes away during the guaranteed period of 5/10/15/20 years, the annuity continues to be paid to the nominee(s) until the end of the guaranteed period.
• If the Annuitant passes away after the guaranteed period, no further payments are made.
Option F • Annuity payments are made in arrears for the Annuitant's lifetime, based on the chosen payment mode.
• Upon the Annuitant's death, annuity payments cease immediately, and the Purchase Price is paid to the nominee(s) as specified by the Annuitant.
Option G • Annuity payments are made in arrears for the Annuitant's lifetime, based on the chosen payment mode.
• The annuity payment increases by a simple rate of 3% per annum for each completed policy year.
• In the event of the Annuitant's death, no further payments are made.
Option H • Annuity payments are made in arrears for the Primary Annuitant's lifetime, based on the chosen payment mode.
• If the Primary Annuitant passes away, 50% of the annuity amount is payable to the surviving Secondary Annuitant for their lifetime. Payments cease upon the Secondary Annuitant's subsequent death.
• If the Secondary Annuitant predeceases the Primary Annuitant, annuity payments continue and cease upon the Primary Annuitant's death.
Option I • 100% of the annuity amount is paid in arrears for the lifetime of the Primary Annuitant and/or Secondary Annuitant, based on the chosen payment mode.
• Upon the death of the last survivor, annuity payments cease immediately, and no further payments are made.
Option J • 100% of the annuity amount is paid in arrears for the lifetime of the Primary Annuitant and/or Secondary Annuitant, based on the chosen payment mode.
• Upon the death of the last survivor, annuity payments cease immediately, and the Purchase Price is paid to the nominee(s) as specified by the Primary Annuitant.

Eligibility Conditions

25 years to 29 years Rs 10,00,000/-
30 years and above 1,00,000/- subject to Minimum Annuity as specified below

Payment Options Available

Mode of Instalment payment Minimum instalment amount
Monthly Rs 5,000/-
Quarterly Rs 15,000/-
Half-Yearly Rs 25,000/-
Yearly Rs 50,000/-
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