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.

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 Benefits

Tax benefits under this plan are available as per the provisions of the Income Tax Act.

Eligibility

ENTRY AGE

Minimum

0 Yrs

Maximum

85 Yrs

(As on last birthday)

POLICY TERM

Whole Life

PREMIUM PAYMENT MODE

  • Yearly
  • Half yearly
  • Quarterly
  • Monthly


MINIMUM ANNUITY*

Yearly: Minimum annuity per annum ranges from Rs. 20340 to Rs. 20085 based on the option selected from 8 options available under the plan

Monthly: Under all the options the minimum monthly annuity shall be Rs. 1000 per month.

*Not applicable for policyholders/nominees of the company’s deferred pension products

PURCHASE PRICE*

Minimum

Rs. 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

Calculator

Click this link to calculate you premium.

RIDERS (Add Ons)

No riders available for this plan.

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Disclaimer

  • For more details on the risk factors, terms and conditions please read the sales brochure and/or sample policy document on our website carefully and/or consult our advisor.

  • Tax benefits are subject to change as per tax laws. Please consult your tax consultant on tax benefits.

Read the brochure here

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