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Life Annuity with Return of Purchase Price (ROP) |
- Survival Benefit: Annuitant receives annuity payout at a constant rate throughout the lifetime
- Death Benefit: Purchase Price will be payable to the nominee/legal heir
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| Life Annuity |
- SurvivalBenefit: Annuitant receives annuity payout at a constant rate throughout the lifetime
- Death Benefit: Nil
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| Life Annuity Certain for 5 Years |
- Survival Benefit: Annuitant receives annuity payout at a constant rate for first 5 years from the policycommencement date and for life thereafter, if the person survives for more than the certain period of 5 years
- Death Benefit:
- During the first 5 years: On death during the annuity certain period of first 5 years from the policy commencementdate, annuity is payable till the end of the 5th year from the policy commencement date to the nominee/legal heir.
- After the first 5 years: If death happens after the end of 5th year from the policy commencement date, no deathbenefit is payable.
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| Life Annuity Certain for 10 Years |
- Survival Benefit: Annuitant receives annuity payout at a constant rate for first 10 years from the policycommencement date and for life thereafter, If the person survives for more than the certain period of 10 years
- Death Benefit:
- During the first 10 years: On death during the annuity certain period of 10 years from the policy commencementdate, annuity is payable till the end of the 10th year from the policy commencement date to the nominee/legalheir.
- After the first 10 years: If death happens after the end of 10th year from the policy commencement date, no deathbenefit is payable.
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| Life Annuity Certain for 15 Years |
- Survival Benefit: Annuitant receives annuity payout at a constant rate for first 15 years from the policycommencement date and for life thereafter, If the person survives for more than the certain period of 15 years
- Death Benefit:
- During the first 15 years: On death during the annuity certain period of 15 years from the policy commencementdate, annuity is payable till the end of the 15th year from the policy commencement date to the nominee/legalheir.
- After the first 15 years: If death happens after the end of 15th year from the policy commencement date, no deathbenefit is payable no deathbenefit is payable
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| Life Annuity Certain for 20 Years |
- Survival Benefit: Annuitant receives annuity payout at a constant rate for first 20 years from the policycommencement date and for life thereafter, If the person survives for more than the certain period of 20 years
- Death Benefit.
- During the first 20 years: On death during the annuity certain period of 20 years from the policy commencementdate, annuity is payable till the end of the 20th year from the policy commencement date to the nominee/legalheir.
- After the first 20 years: If death happens after the end of 20th year from the policy commencement date, no deathbenefit is payable.
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| Life Annuity Increasing at a Simple Rate of 3.0% per annum |
- Survival Benefit: Annuitant receives annuity payout for lifetime increasing at a simple rate of 3.0% per annumthroughout the lifetime.
- Death Benefit: Nil
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| Life Annuity Increasing at a Simple Rate of 5.0% per annum |
- Survival Benefit: Annuitant receives annuity payout for lifetime increasing at a simple rate of 5.0% per annum throughout the lifetime.
- Death Benefit: Nil
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| Joint Life, Last Survivor |
- Primary and Secondary Annuitant, both are alive: 100% of annuity payout at a constant rate
- Primary Annuitant is alive and Secondary Annuitant is dead: 100% of annuity payout at a constant rate
- Primary Annuitant is dead and Secondary Annuitant is alive: 100% of annuity payout at a constant rate
- Primary Annuitant and Secondary Annuitant are dead: Nil
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| Joint Life, Last Survivor with 50% annuity |
- Primary and Secondary Annuitant, both are alive: 100% of annuity payout at a constant rate
- Primary Annuitant is alive and Secondary Annuitant is dead: 100% of annuity payout at a constant rate
- Primary Annuitant is dead and Secondary Annuitant is alive: 50% of annuity payout at a constant rate
- Primary Annuitant and Secondary Annuitant are dead: Nil
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| Joint Life, Last Survivor with Return of Purchase Price on Last Death |
- Survival Benefit: 100% of annuity payout at a constant rate till the lifetime of the last survivor
- Death Benefit: Purchase price will be payable to the nominee/legal heir on the death of last survivor
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