Shriram Life Immediate Annuity Plus
What is Shriram Life Immediate Annuity Plus?
Shriram Life Immediate Annuity Plus 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 to the single purchase price paid, the plan provides with a stream of regular income in the form of an annuity for the whole life.
Who should buy this plan?
Shriram Life Immediate Annuity Plus Plan is an affordable, easy-to-obtain financial security net for you and your loved ones. It pays a lump sum payment in case of unfortunate death helping your family to reduce their debts.
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Plan Annuity options:
Under all the options the minimum monthly annuity shall be Rs. 1000 per month. The minimum annuity condition is not applicable for policyholders/nominees of the company’s deferred pension products to offer the annuity benefits under this product.
Minimum Purchase price Rs.3,00,000. There is no minimum purchase price condition for policyholders/ nominees of the company’s deferred pension products to offer the annuity benefits under this product.
Maximum Purchase price No limit, Subject to board approved underwriting policy
- Annuity for life
- Annuity for life with return of 100% purchase price on death
- Annuity for life increasing @ 3% p.a. simple rate
- Annuity for life increasing @ 3% p.a. compound 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
Option |
Annuity p.a. |
1 | Rs.20340 |
2 | Rs.20106 |
3 | Rs.14415 |
4 | Rs.12407 |
5 | Annuity certain for 5 years- Rs.20328 10 years- Rs.20313 15 years -Rs.20292 20 years- Rs.20274 and for life thereafter |
6 | Rs.20208 |
7 | Rs.20109 |
8 |
Rs.20085 |
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