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Plan No. 870
  •  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

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    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.


    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.


    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.


    On death of the last survivor: The annuity payments will cease immediately and 100% of Purchase Price shall be paid.

  • 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  
  • Minimum Age at Entry: 40 years (completed)
  • Maximum Age at Entry: 80 years (completed)
  • Minimum Annuity:

Annuity Mode





Minimum Annuity

Rs. 1000 per month

Rs. 3000 per quarter

Rs. 6000 per half year

Rs. 12,000 per annum

  • Minimum purchase price : Shall depend on the minimum annuity as specified in the table above, option chosen and age of the Annuitant
  • Maximum Purchase Price: No Limit
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