Retirement signifies the beginning of a brand new journey for any individual. However, one cannot help but feel anxious about maintaining the quality of life which they enjoyed while they were employed. To help you achieve that goal of leading a worry-free retired life, IndiaFirst Life Insurance presents the Annuity Plan, to help you relax and make the most of your retirement days. This is a traditional annuity plan which not only understands your needs and helps you to invest in a secure retired future and provides a steady income to maintain the lifestyle you enjoy.
Eligibility of IndiaFirst Life Insurance Annuity Plan
| Minimum Age Of Entry | Applicant must be a minimum of 40 years of age at the time of applying for the plan. |
| Maximum Age Of Entry | Applicant must not be above 80 years of age when first applying for the plan. |
Key Features of IndiaFirst Life Insurance Annuity Plan
| Plan Type | Traditional Immediate Annuity Plan |
| Plan Basis | Individual |
| Premium Payment Frequency / Mode | Premium must be paid in a single lump sum amount and can be paid via cheque, Demand Draft or ECS. |
| Annuity Payout | This is a Single Life Annuity Plan which pays annuity on a yearly basis to the Life Insured for life. |
| Surrender Value | No Surrender Value available under this plan. |
| Bonus | There is no Bonus payable as this is a non-participating plan. |
| Policy Cancellation | If you are not satisfied with the terms and conditions of this plan, you can return and cancel this policy to the company within a duration of 15 days from the date of receipt of the cancellation request. |
Benefits of IndiaFirst Annuity Plan
- As a Annuity Plan holder, you have the freedom to choose the age at which you wish to retire. You can begin receiving the benefits of the plan starting any time between 40 years to 80 years.
- You also may get the benefit of receiving a fixed amount as income on a monthly basis through the years of your retirement.
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GST of 18% is applicable on life insurance effective from the 1st of July, 2017
