ICICI Prudential’s Single Premium Product, you can start earning an annuity income immediately after paying the premium. What’s more, the annuity income is guaranteed for life which means that the insurance company pays you and your spouse (as the case maybe) a guaranteed pension till you live.
Eligibility –
| Premium Payment Frequency | Single Premium Product |
| Annuity Options Available | 5 annuity options |
| Minimum Annuity Size | 12,000 p.a. |
| Minimum Age | 45 years |
| Maximum Age | 80 years |
| Minimum Spouse age (in case of joint options) | 20 years |
Features & Benefits –
- Flexible Payout Modes-Monthly, Quarterly, Half-Yearly, Yearly
- Provision of Annuity Card which makes servicing of annuity very easy
- Five different payout options:
- Life Annuity
- Life Annuity with Return of Purchase Price
- Joint life Last Survivor without return of purchase price
- Joint Life Last Survivor with return of purchase price
- Annuity Guaranteed for 5/ 10/ 15 years and life thereafter
- No underwriting to be done in this insurance plan
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Tags: ICICI Pru Immediate Annuity, ICICI Pru Life Insurance, Insurance