An annuity is a plan that helps you get a regular payment for life after making a lump sum investment. The life insurance company invests the money of the investor and pays back the returns generated from it. Our annuity offering is the IndiaFirst Life Guaranteed Annuity Plan which comes with 12 different annuity options to choose from.

• Life Annuity:

  You will get a guaranteed annuity for life.

• Life Annuity with return of 100% of purchase price

  The annuity will be payable in arrears for the life of the annuitant. On the death of the annuitant the annuity payments will cease and 100% of purchase price will be payable to the nominee(s).

• Joint Life Last Survivor Annuity for Life

  The annuity will be payable in arrears for the life of the last surviving annuitant. On the death of the either annuitant, the annuity payment continues for the other annuitant. On the death of the both annuitants, the annuity payments will cease and no further amount will be payable.

• Joint Life Last Survivor Annuity for Life with return of 100% of purchase price

  The annuity will be payable in arrears for the life of the last surviving annuitant. On the death of the either annuitant, the annuity payment continues for the other annuitant. On the death of the both annuitants, the annuity payments will cease and 100% of purchase price will be payable to the nominee(s) / legal heir(s) of the annuitant.

• Annuity Certain for a period of 5,10,15 years and Life thereafter

  The annuity will be payable in arrears for the life of the annuitant or until the end of certain period whichever is later. On the death of the annuitant or at the end of the certain period whichever is later the annuity payments will cease and no further amount will be payable. The annuitant has the option to choose a certain period of 5 or 10 or 15 years.

• Deferred Life Annuity

  After the end of the deferment period; the annuity will be payable immediately in arrears as per annuity payment frequency chosen for the life of the annuitant. On the death of the annuitant during deferment period; 110% of purchase price will be payable to the nominee(s) / legal heir(s) of the annuitant. The deferment period in this option is of 5-10 years.

• Deferred Life Annuity with Return of Purchase Price

  After the end of the deferment period; the annuity will be payable immediately in arrears as per annuity payment frequency chosen for the life of the annuitant. On the death of the annuitant during deferment period; 110% of purchase price will be payable to the nominee(s) / legal heir(s) of the annuitant. On the death of the annuitant after deferment period; the annuity payments will cease and 100% of purchase price will be payable to the nominee(s) / legal heir(s) of the annuitant. The deferment period in this option is of 5-10 years.

• Life Annuity with Return of Purchase Price on diagnosis of Critical Illness or Death

  The annuity will be payable in arrears for the life of the annuitant as per the chosen annuity payment frequency. Upon the annuitant being diagnosed with any of the covered critical illnesses (defined in Annexure I) or death, the annuity payments will cease and 100% of the purchase price will be payable to the annuitant or to the nominee(s) in case of annuitant?s death and policy will be terminated.

• Life Annuity with Return of Purchase Price in parts

  The annuity will be payable in arrears for the life of the annuitant. At the end of 10th year, 30% of the purchase price will be paid to the annuitant on survival. On death of the annuitant beyond 10 years, the annuity payments will cease and 70% of the purchase price will be paid to the nominee(s) / legal heir(s) of the annuitant. On death of the annuitant within 10 years, the annuity payment will cease and 100% of purchase price will be payable to the nominee(s) / legal heir(s) of the annuitant.

• Escalating Life Annuity

  The annuity will be payable in arrears for the life of the annuitant. The annuity will increase every 3 years at simple rate of 5% on initial annuity. On the death of the annuitant the annuity payments will cease and no further amount will be payable.

• Escalating Life Annuity with Return of Purchase price

  The annuity will be payable in arrears for the life of the annuitant. The annuity will increase every 3 years at simple rate of 5% on initial annuity. On the death of the annuitant the annuity payments will cease and 100% of purchase price will be payable to the nominee(s) / legal heir(s) of the annuitant.

• Age at entry (First Annuitant)

  Minimum: 40 years as on last birthday.

  Maximum: 80 years as on last birthday.

• Premium (Purchase Price)

  Minimum: INR 100,000.

  Maximum: No limit.

• Annuity Amount

  Minimum: INR 1,000 per month
  INR 12,500 per annum

  Maximum: No limit subject to underwriting

You may choose to receive your annuity payments in Monthly, Quarterly, Half-yearly or Yearly frequencies as per your need.

Yes; you can increase your annuity amount through top-up option.

It is advisable to continue your policy to enjoy full benefits of your policy. However, we understand that in certain circumstances you may want to surrender your policy. You will be eligible to receive a surrender value only if you have bought any of the below options.

• Life Annuity with return of 100% of purchase price

  10% of the purchase price

• Joint Life Last Survivor Annuity for Life with return of 100% of purchase price

  10% of the purchase price

• Deferred Life Annuity with Return of Purchase Price where deferment period is 5 to 10 years

  During Deferment Period: 70% of Purchase Price After Deferment Period: 10% of Purchase Price

• Life Annuity with Return of Purchase Price on diagnosis of Critical Illness

  10% of the purchase price

• Life Annuity with Return of Purchase Price in parts

  10% of the purchase price

• Escalating Life Annuity with Return of Purchase price

  10% of the purchase price