You strive hard all your life to ensure you have enough money
for a comfortable life after retirement. While your income stops, your
expenses don't. With increasing life expectancy and rising medical
costs, the need to have an alternate income after retirement is
important. The Aditya Birla Sun Life Insurance Immediate Annuity
Plan keeps your savings aside and gives you a regular income in
your retirement years, so you can enjoy a happy and relaxed
How does your plan work
- STEP 1
Decide the amount of premium (lump sum amount) you want to pay to purchase the annuity
depending on the amount of regular income you wish to receive.
- STEP 2
Choose one of the 6 payout options as mentioned below.
- STEP 3
Choose your annuity payout mode from monthly, quarterly, semi-annual or annual.
- STEP 4
Choose how would like to receive your annuity from either post dated cheques or through
direct credit to your bank account.
Key advantages of this Plan
Guaranteed income for the life of the annuitant is based on the annuity rate
purchased and shall be applicable and guaranteed through the life of the annuitant.
- Payout frequency options
Plan to have monthly, quarterly, semi-annual or annual pay-outs as per your need
- Medical test
None required to get the policy.
- Tax benefit
Tax benefits under Section 80CCC.
(1)Tax benefits are subject to changes in tax laws. Please consult your tax advisor for more details.
Choose the Annuity Plan that best suits you
Aditya Birla Sun Life Insurance Immediate Annuity Plan offers a choice of 6 Annuity options
you can choose from
Annuity payable for life at uniform rate. Upon the unfortunate death of the annuitant the
annuity payouts will cease.
Annuity payable for life with return of purchase price on death of annuitant
Annuity payable for the chosen term of 5/10/15/20 years is guaranteed and after that as
long as annuitant is alive. In case of death of annuitant during chosenterm nominee will
continue to receive the annuity for balance term.
Annuity payable for life at a simple increasing rate of 3% per annum. Upon the unfortunate
death of the annuitant the annuity payouts will cease.
Joint Life Last Survivor where the annuity is first paid to the primary annuitant. After the
death of the primary annuitant, the second annuitant (spouse) continues to receive the
annuity. Upon the unfortunate death of the secondary annuitant the annuity payouts
Joint Life Last Survivor with return of purchase price. Here the annuity is first paid to the
primary annuitant. After the death of the primary annuitant, the second annuitant (spouse)
continues to receive the annuity. Upon the unfortunate death of the secondary annuitant,
the purchase price is returned to the beneficiary/nominee.
|Age at entry
||30 to 90 years
|Frequency of income
||Monthly, quarterly, semi-annual or annual
||Min. Regular Income of Rs.1,000, Rs.3,000, Rs.6,000 or Rs.12,000 for monthly, quarterly, semi-annual and
annual mode of annuity payment
Know more about retirement pension plans and also calculate the premium with Retirement Planning Calculator