Shriram Life Immediate Annuity Plus V01 (UIN: 128N063V01)
SHRIRAM LIFE IMMEDIATE ANNUITY PLUS
Shriram Life Immediate Annuity Plus (UIN: 128N063V01) is a non-linked and non-participating single premium immediate annuity assurance for individuals. The plan aims to provide a lifetime income stream post retirement. In exchange for a single purchase price paid, the plan provides with a stream of regular income in the form of an annuity for the whole life.ection in case of unfortunate death of the insured member of the group.
KEY FEATURES
Annuity for life.
Annuity for life with return of 100% purchase price on death.
Annuity for life increasing @ 3% P.A. compound rate.
Annuity for life increasing @ 3% P.A. simple rate.
Annuity certain for 5 / 10 / 15 / 20 years and thereafter for life.
Joint life last survivor annuity with 50% annuity to last survivor on the death of the annuitant.
Joint life last survivor annuity with 100% annuity to last survivor on the death of the annuitant.
Joint life last survivor annuity with 100% annuity to last survivor on the death of the annuitant with 100% purchase price on death of the last survivor.
KEY BENEFITS
Maturity Benefits
On survival of the life assured up to the end of the policy term, no benefit will be payable.
Tax Employer
Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.
ELIGIBILITY
| ENTRY AGE | Minimum:0Yrs Maximum:85 Yrs (Age last birthday) |
|---|---|
| MATURITY AGE | Whole Life Yrs |
| PREMIUM PAYMENT MODE |
|
| MINIMUM ANNUITY | Yearly: Minimum annuity per annum ranges from ₹ 20340 to ₹ 20085 based on the option selected from 8 options available under the plan Monthly: Under all the options the minimum monthly annuity shall be ₹ 1000 per month. Not applicable for policyholders/nominees of the company’s deferred pension products |
| PURCHASE PRICE | Minimum:₹ 3 Lakhs Maximum:No limit, Subject to board approved underwriting policy Not applicable for policyholders/nominees of the company’s deferred pension products |
| MAXIMUM EXIT AGE | No maximum exit age. Policy will terminate upon death of annuitant |
| PREMIUM PAYING TERM | Single |