On Survival: Payments will be made in arrears for as long as Annuitant is alive, as per the chosen mode of annuity payment.
On Death of the Annuitant: The annuity payment shall cease immediately and 100% of Purchase Price shall be payable to Nominee(s)/legal heirs.
On Survival: The annuity will be paid in arrears for as long as the Annuitant and/or Spouse are alive, as per the chosen mode of annuity payment.
On first death (of either of the covered lives): 100% of the annuity amount shall continue to be paid as long as one of the Annuitants is alive.
On death of the last survivor: The annuity payments will cease immediately and 100% of Purchase Price shall be paid.
Annuity Mode
Monthly
Quarterly
Half-Yearly
Annual
Minimum Annuity
Rs. 1000 per month
Rs. 3000 per quarter
Rs. 6000 per half year
Rs. 12,000 per annum