It is a one time premium payment plan with many return options.There are mainly two return options, immediate and deferred annuity.The policy is a type of pension plan where a policyholder can be benefitted in many ways. It is a non- linked and non- participating plan. Their immediate and deferred annuity plans offer many options for a policyholder. The policy holder can select any of these plans either online or offline.
This is a single premium plan which consists of two types of annuities like Immediate Annuity and Deferred Annuity. In Immediate Annuity returns can be available instantly after paying all the premiums. But in the case of a deferred annuity plan, returns will be available after a definite period of time. There are also other options available in this annuity plan.
The plan starts with the minimum amount of Rs.1.5 lakhs and there is no maximum limit. The minimum tenure of the policy is for one year and the maximum is 20 years in the deferred annuity plan. The policyholder can decide the policy term in the deferred annuity plan. The plan offers annuity payment once the policyholder joins the policy. The plan can be either purchased solely or jointly by a family. After one year of completion the insurer can avail loan facility under this cover. Handicapped dependent persons have an extra benefit in this plan.
