It is a Non-Linked, Non-Participating, Individual, Savings, Deferred Annuity plan. The annuity rates are guaranteed at the inception of the policy and annuities are payable post Deferment Period in arrears throughout the life time of Annuitant(s).
Choose Annuity Option as per your need from 1 to 11 options. Every Annuity Option is coming with unique benefits. Options are available for Single Life and Joint Life.
This plan has Annuity Option especially for Joint Life. It has flexibility to choose Single or Joint Life Annuity options.
Select Deferment Period as per your choice. You can select deferment period 5 to 15 Years if you opt Annuity Option from 1 to 9 and 1 to 15 Years for Option 10 & 11.
Wide range of Annuity Options
| Premium Payment | Annuity Type | Annuity Options | |
| Regular Premium | Single Life Annuity | Option 1 | Life Annuity for Single Lige |
| Option 2 | Life Annuity with Return of Premium for Single Life | ||
| Option 3 | Life Annuity with 50% Return of Premium after attaining age 75 years for single Life | ||
| Option 4 | Life Annuity with 100% Return of Premium after attaining age 75 years for single Life | ||
| Option 5 | Life Annuity with 50% Return of Premium after attaining age 80 years for single Life | ||
| Option 6 | Life Annuity with 100% Return of Premium after attaining age 80 years for single Life | ||
| Option 7 | Life Annuity with 5% Return of Premium after attaining age 76 years to 95 Years for single Life | ||
| Joint Life | Option 8 | Life Annuity for Joint Life | |
| Option 9 | Life Annuity with Return of Premium for Joint Life | ||
| Single Premium | Single Life Annuity | Option 10 | Life Annuity with Return of Purchase Price for Single Life |
| Joint Life Annuity | Option 11 | Life Annuity with Return of Purchase Price for Joint Life | |
Eligibility Criteria
Minimum Age at Entry: 20 Years (Completed) (for Annuitant / Primary / Secondary Annuitant)
Maximum Age at Entry:
For Annuitant / Primary Annuitant
| Annuity Option | Age in Years (completed) |
| Option 1, 2, 8, 9, 10 & 11 | 80 minus Deferment Period |
| Option 5, 6 & 7 | 70 minus Deferment Period |
| Option 3 & 4 | 65 minus Deferment Period |
For Secondary Annuitant
75 Years (completed) for Option 8 & 9
79 Years (completed) for Option 11
Policy Term: Not Applicable
Deferment Period
5 to 15 Years for Option 1 to 9
1 to 15 Years for Option 10 & 11
Death Benefit
| Annuity Options | Benefits payable on Death | |
| Option 1 | Life Annuity for Single Lige | During Deferment Period On death of the Annuitant, death benefit equal to 105% of total premiums paid upto the death shall be payable. After Deferment Period On death of the Annuitant, the annuity payments shall cease immediately. No death benefit shall be payable and the policy shall terminate |
| Option 2 | Life Annuity with Return of Premium for Single Life | During Deferment Period On death of the Annuitant, death benefit equal to 105% of total premiums paid upto the death shall be payable. After Deferment Period On death of the Annuitant, the annuity payments shall cease immediately and death benefit equal to 100% of total premiums paid upto the death shall be payable. |
| Option 3 | Life Annuity with 50% Return of Premium after attaining age 75 years for single Life | During Deferment Period On death of the Annuitant, death benefit equal to 105% of total premiums paid upto the death shall be payable. After Deferment Period On death of the Annuitant, the annuity payments shall cease immediately and death benefit equal to 100% of total premiums paid upto the death Less Sum of Early Return of Premium already paid till the date of death, if any, shall be payable. |
| Option 4 | Life Annuity with 100% Return of Premium after attaining age 75 years for single Life | During Deferment Period On death of the Annuitant, death benefit equal to 105% of total premiums paid upto the death shall be payable. After Deferment Period On death of the Annuitant, the annuity payments shall cease immediately and death benefit equal to 100% of total premiums paid upto the death Less Sum of Early Return of Premium already paid till the date of death, if any, shall be payable. |
| Option 5 | Life Annuity with 50% Return of Premium after attaining age 80 years for single Life | During Deferment Period On death of the Annuitant, death benefit equal to 105% of total premiums paid upto the death shall be payable. After Deferment Period On death of the Annuitant, the annuity payments shall cease immediately and death benefit equal to 100% of total premiums paid upto the death Less Sum of Early Return of Premium already paid till the date of death, if any, shall be payable. |
| Option 6 | Life Annuity with 100% Return of Premium after attaining age 80 years for single Life | During Deferment Period On death of the Annuitant, death benefit equal to 105% of total premiums paid upto the death shall be payable. After Deferment Period On death of the Annuitant, the annuity payments shall cease immediately and death benefit equal to 100% of total premiums paid upto the death Less Sum of Early Return of Premium already paid till the date of death, if any, shall be payable. |
| Option 7 | Life Annuity with 5% Return of Premium after attaining age 76 years to 95 Years for single Life | During Deferment Period On death of the Annuitant, death benefit equal to 105% of total premiums paid upto the death shall be payable. After Deferment Period On death of the Annuitant, the annuity payments shall cease immediately and death benefit equal to 100% of total premiums paid upto the death Less Sum of Early Return of Premium already paid till the date of death, if any, shall be payable. |
| Option 8 | Life Annuity for Joint Life | During Deferment Period On first death (of eaither of the covered lives), no death benefit shall be payable and the policy shall continue with payment of due premium, if any. On death of last survivor, death benefit equal to 105% of total premiums paid upto the date of death shall be payable. After Deferment Period On first death (of eaither of the covered lives), no death benefit shall be payable and 100% of the annuity amount shall continue to be paid as long as the last survivor is alive. On death of last survivor, the annuity payments shall cease immediately and no death benefit shall be payable. |
| Option 9 | Life Annuity with Return of Premium for Joint Life | During Deferment Period On first death (of eaither of the covered lives), no death benefit shall be payable and the policy shall continue with payment of due premium, if any. On death of last survivor, death benefit equal to 105% of total premiums paid upto the date of deat shall be payable. After Deferment Period On first death (of eaither of the covered lives), no death benefit shall be payable and 100% of the annuity amount shall continue to be paid as long as the last survivor is alive. On death of last survivor, the annuity payments shall cease immediately and death benefit equal to 100% of total premiums paid upto the death shall be payable. |
| Option 10 | Life Annuity with Return of Purchase Price for Single Life | During Deferment Period On death of the annuitant, death benefit equal to 105% of purchase price shall be payable. After Deferment Period On death of the annuitant, the annuity payments shall cease immediately and death benefit equal to 100% of purchase price shall be payable. |
| Option 11 | Life Annuity with Return of Purchase Price for Joint Life | During Deferment Period On first death (of eaither of the covered lives), no death benefit shall be payable and the policy shall continue with payment of due premium, if any. On death of last survivor, death benefit equal to 105% of purchase price shall be payable. After Deferment Period On first death (of eaither of the covered lives), no death benefit shall be payable and 100% of the annuity amount shall continue to be paid as long as the last survivor is alive. On death of last survivor, the annuity payments shall cease immediately and death benefit equal to 100% of purchase price shall be payable. |
