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142N048V05 - Individual Non-Linked Non-Participating Immediate Annuity Plan
SUD Life Immediate Annuity Plus is a non-linked, non-participating individual immediate annuity plan, which assures a regular flow of income as per the chosen plan option.
BENEFITS
- Lifelong income with three plan options.
- Plan option A: Purchase immediate annuity either from your savings or from the policy proceeds of any deferred pension plan (issued by SUD Life) & choose from 9 annuity options.
- Plan option B: Purchase immediate annuity from the proceeds of reverse mortgage loan offered by any approved financial institution as mentioned in the Gazette of India. Choose from 2 Annuity options.
- Plan Option C: Purchase Immediate Annuity from proceeds of National Pension Scheme. Default ‘Annuity option 6 – Joint Life Annuity with 100% Return of Purchase Price’ is available to NPS subscribers. ‘Annuity option 2 – Life Annuity with 100% Return of Purchase Price’ available in case of single life.
- Yearly Annuity payment for a minimum amount of Rs 12,000
- Half-Yearly Annuity payment for a minimum amount of Rs 6,000
- Quarterly Annuity payment for a minimum amount of Rs 3,000
- Monthly Annuity payment for a minimum amount Rs 1,000
- monthly, quarterly, half yearly, yearly
Disclaimer Bank of India is a registered Corporate Agent (IRDAI registration no. CA0035) for Star Union Dai-ichi Life Insurance Company (SUD Life) and does not underwrite the risk or act as an insurer. Participation by the Bank’s customer in the Insurance products is purely on a voluntary basis. The contract of Insurance is between SUD Life and the Insured and not between Bank of India and the Insured. This policy is underwritten by SUD Life Insurance Company. For more details on risk factors, associated terms and conditions and exclusions please read sales brochure carefully before concluding a sale.
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