Edelweiss Tokio Life Immediate Annuity Plan

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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.

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


  • 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:




Entry Age (Last Birthday)

45 years

85 years

Purchase Price


No limit

Yearly Annuity Payout

Depends on the purchase price and the entry age

Annuity payout Frequency

Monthly, quarterly, half-yearly, yearly

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.


  • 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.

Written By: PolicyBazaar - Updated: 15 March 2016