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Future Generali Immediate Annuity Plan is a traditional non-participating individual pension plan that provides you the benefit as regular income through your retired life. Under this plan, you have an option to start receiving annuity immediately after paying the premium depending upon the payout mode you choose. It ensures complete financial security and comfort, even after your retirement.BUY NOW
There are two annuity options you can choose from:
Life Annuity: This option provides annuity payment as long as the annuitant is alive. The Annuity payment stops on death of the annuitant. No benefit is payable on the demise and the policy terminates.
Life Annuity with return of Purchase Price: This option provides annuity payout, provided the annuitant is alive. On the demise of the annuitant, the purchase price is paid to the nominee and the policy terminates.
Additional Annuity Benefit
For higher Purchase Price, the additional benefit is payable in terms of higher Annuity payout. Additional annuity amount is Rs 1600/Rs 2000/Rs 2200/Rs 2500 for purchase price of Rs 60,000-79,999/Rs 80,000-99,999/Rs 1,00,000-1,49,999/Rs 1,50,000 & above, respectively.
If the policyholder has opted for ‘Life Annuity with Return of Purchase Price’ option, on death of the policyholder, the purchase price is paid to the nominee.
No bonuses are payable, as it is a non-participating pension plan.
No loan is available under this policy.
This policy does not acquire a surrender value.
|Age (as on last birthday)||40 Years||80 Years|
|Policy Tenure||Till The Policyholder/Annuitant Is Alive||-|
|Premium Paying Term||Single Premium||-|
|Premium Paying Mode||Single Pay||-|
|Purchase Price||Rs 30,000||No Limit|
|Annuity Mode||Yearly Or Monthly||-|
|Option for receiving the Annuity amount||Direct Credit To Annuity Card Or Post Dated Cheques||-|
|Freelook Period||15 Days/ 30 Days (for Distance Marketing Channel) From The Receipt Of The Policy||-|
No rider can be opted under this plan.
Premium paid under this policy is eligible for tax benefit as per the prevailing tax laws.
Mr. Rajesh aged at 30 years buys Future Generali Immediate Annuity Plan with the purchase price of Rs 1,00,000 with ‘Life Annuity with return of Purchase Price’ option chosen.
Scenario I: Rajesh Survives the Policy Term: The annuity amount payable is Rs 8,092 (per annum) as long as he survives.
Scenario B: Rajesh dies during the Term of the Policy: In the event of the demise of Rajesh during the policy term, his nominee will receive the purchase price i.e., Rs 1,00,000 and the policy terminates.