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.
The policy does not acquire any paid-up value. No surrender value will be available and No loan will be available under the policy.
| Online Incentive |  | Rebate of 1% by way of increase in the basic annuity rate will be available. |
|---|---|---|
| Immediate Annuity | | Starts as early as next month. |
| Single Premium | | Pay - Once - Enjoy - Forever |
| Purchase Limits | | 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. |
| Age Limits | | Minimum age at entry: 30 years Maximum age at entry: 85 years Age proof is necessary |
| Medical | | No medical examination is required. |
| Annuity Options | | Seven options of annuity to choose from. |
| Annuity Mode | | 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
| (i). | Annuity payable for life at a uniform rate. |
| (ii). | Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as the annuitant is alive. |
| (iii). | Annuity for life with return of purchase price on death of the annuitant. |
| (iv). | Annuity payable for life increasing at a simple rate of 3% p.a. |
| (v). | Annuity for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant. |
| (vi). | Annuity for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant. |
| (vii). | 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 | ||||||
|---|---|---|---|---|---|---|---|
| (i) | (ii) (15 yrs certain) | (iii) | (iv) | (v) | (vi) | (vii) | |
| 30 | 10226 | 10196 | 9741 | 7378 | 10060 | 9893 | 9711 |
| 40 | 10726 | 10635 | 9802 | 7923 | 10414 | 10120 | 9741 |
| 50 | 11681 | 11408 | 9878 | 8939 | 11105 | 10590 | 9802 |
| 60 | 13529 | 12711 | 9999 | 10817 | 12453 | 11544 | 9893 |
| 70 | 17650 | 14332 | 10196 | 14877 | 15347 | 13590 | 10029 |
| 80 | 26376 | 15271 | 10484 | 23392 | 21468 | 18089 | 10241 |
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