
 
  -  It is  Standard Individual immediate Annuity Plan
 
  - This plan can be Taken on Single life and Joint  Life (Only Spouse as Joint Life and both should be 40 years and above).
 
- Returns are guaranteed for Life Time.
 
- Flexibility to choose amount of Pension and  Purchase Price 
 
- Modes of Annuity Payment is Yearly, half yearly,  quarterly, monthly (Needs to be decided at the Inception) 
 
- Survival and Death Benefits 
 
  
    
      | Option I | 
      Single Life Annuity | 
      On  Survival: Payments will be made in arrears for as  long as Annuitant is alive, as per the chosen mode of annuity payment.  | 
      
    
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      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 | 
      Joint Life Annuity | 
      On  Survival: The annuity will be paid in arrears for  as long as the Annuitant and/or Spouse are alive, as per the chosen mode of  annuity payment.  | 
      
    
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      On  first death (of either of the covered lives): 100%  of the annuity amount shall continue to be paid as long as one of the  Annuitants is alive.   | 
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      On  death of the last survivor: The annuity payments  will cease immediately and 100% of Purchase Price shall be paid.  | 
      
    
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- Min purchase price should be as per above  Annuity rate and calculation (Monthly/Quarterly/Half-Yearly/Yearly)
 
- No limit on Maximum Purchase Price and Maximum  Annuity
 
- Loan available after Six Months.
 
- Loan in Joint life is available after death of  any one annuitant (Max 50% of the Annuity amount)
 
- Option to surrender after six months- 95% of  purchase price will be paid on diagnosis of critical illness for both as well  as their Children’s.
 
- Tax Benefit Available
 
   
 
How Does This Policy Work
Sample illustration
  
  
    
      
        | Eligibility Criteria | 
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          - Minimum Age at Entry: 40 years (completed)
 
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          - Maximum Age at Entry: 80 years (completed)
 
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            Annuity    Mode  | 
            Monthly  | 
            Quarterly  | 
            Half-Yearly  | 
            Annual  | 
           
          
            Minimum    Annuity  | 
            Rs. 1000 per month  | 
            Rs. 3000 per quarter  | 
            Rs. 6000 per half year  | 
            Rs.    12,000 per annum  | 
           
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          - Minimum purchase price : Shall depend on the  minimum annuity as specified in the table above, option chosen and age of the  Annuitant
 
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          - Maximum Purchase Price: No Limit
 
  
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