Edelweiss Tokio Life Immediate Annuity Plan
Edelweiss Tokio Life Immediate Annuity Plan is a traditional pension plan providing annuity payouts immediately after paying the lump sum payment to ensure regular cash inflows even after retirement for a worry-free life.
Secure Your Retirement with
100% Guaranteed
Pension For Life
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Invest 20 Lacs Get ₹ 1.6 Lacs pension for Life
Guaranteed Return For Life
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Multiple Annuity Options
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
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Edelweiss Tokio Life Pension Plans
- Edelweiss Tokio Life Immediate Annuity Plan
Key Features
- It is an Immediate Annuity Plan with single premium option where the annuity starts immediately after premium payment from the next chosen date
- The annuity options can be chosen for a single life (policyholder) or for joint life (policyholder and spouse)
- The annuity options are:
- Life Annuity
- Lifetime Annuity with Return of 100% of Purchase Price
- Life Annuity guaranteed for 5/10/15 or 20 years
- Life Annuity increasing at a simple rate of 3% or 5% p.a.
- Joint Life Last Survivor
- Joint Life Last Survivor with 50% annuity
- Joint Life Last Survivor with Return of Purchase Price on last death
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Benefits
- Annuity payouts will be paid as per the frequency chosen immediately after the premium paid
- Income tax benefit on the premium paid as per Section 80CCC of the Income Tax Act.
Product Specification:
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Minimum |
Maximum |
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Entry Age (Last Birthday) |
45 years |
85 years |
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Purchase Price |
100,000 |
No limit |
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Yearly Annuity Payout |
Depends on the purchase price and the entry age |
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Annuity payout Frequency |
Monthly, quarterly, half-yearly, yearly |
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Read Also: Different Types of Annuity
Policy Details
Grace Period: Grace period is not applicable.
Policy Termination or Surrender Benefit: there is no Surrender Value under the plan.
Free Look Period: the free look period is not applicable under the plan.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Inclusions
- Loan is not available under the plan.
Additional Features or Riders
- The annuity rates are higher for female lives.
- Higher annuity rates for Purchase price range of 3 lakhs and above.
Documents Required
Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
