Immediate Annuity

Benefits:

• A fixed amount is payable in monthly or quarterly or half-yearly or yearly intervals as selected by you.
• No medical examination required.
• There are no policy exclusionsSpecific conditions or circumstances listed in an insurance policy for which the policy will not provide benefit payments..

Key Features:

AnnuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date. options:

We will offer you a choice between different annuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date. options as provided below:

• Life AnnuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date. - A fixed amount is paid in the monthly interval to the policyholders (called annuitants) through out his life as long as he survives.
• AnnuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date. Certain for 5/10/15/20 years and for Life thereafter - We will pay you an annuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date. for a fixed (i.e. certain) period with a choice of 4 guaranteed minimum periods as chosen by you viz.
  • 5 years
  • 10 years
  • 15 years
  • 20 years

  In case of your death during this period, we will continue paying the annuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date. to your beneficiaryA person(s) designated by the policy owner to receive the proceeds of an insurance policy upon the death of the insured. till the end of this fixed period. On your survival at the end of this period, we will continue to pay you the same amount for as long as you live.

• AnnuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date. for Life, with return of annuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date. purchase price - We will pay you an annuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date. for as you long as you live. On your death, we will refund the original annuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date. purchase price to your beneficiaries.

Other annuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date. conditions:

• All annuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date. options are 'for as long as you live'.
• You can choose from any other annuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date. options offered by us at the time of purchasing this annuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date..
• In case you do not choose any annuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date. option in the proposal form, we will pay you an AnnuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date. for Life on an annual basis.
• Please note that the AnnuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date. plan once chosen by you cannot be altered thereafter.

Example:

Take a look at an example of immediate annuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date. amount per annum commencing at ages 50, 60 and 70 years if you pay a purchase price of Rs. 10,00,000 (Rupees Ten Lacs only):