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Product Information
Retirement Plans Immediate Annuity Plus
Synopsis:
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SUD Life Immediate Annuity Plus is a Non-Linked, Non-Participating Individual Immediate Annuity plan, which assures a regular stream of income as per the plan option chosen.

Features:

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  • Annuity Options
  • Plan Option A- 10 Annuity options to choose from :
    Life Annuity
    Life Annuity with Return of Purchase Price
    Increasing Life Annuity with Return of Purchase Price
    Joint Life Annuity (50%)
    Joint Life Annuity (100%)
    Joint Life Annuity (50%) with Return of Purchase Price
    Joint Life Annuity (100%) with Return of Purchase Price
    Annuity certain for 10 years
    Annuity certain for 15 years
    Annuity certain for 20 years
  • Plan Option B- 2 Annuity options to choose from :
    Life Annuity with Return of Purchase Price
    Joint Life Annuity (100%) with Return of Purchase Price
  • Minimum Purchase Price- Rs. 1 lac
  • Premium Payment Term- Single
  • Annuity Payment Mode- Yearly, Half-yearly, Quarterly, Monthly

Benefits:

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  • Lifelong income with 2 Plan Options to choose from
  • Plan Option A-
  • Purchase Immediate Annuity either from your savings or from the policy proceeds of any Deferred Pension Plan (issued by SUD Life)/National Pension Scheme.
  • Choose from 10 Annuity options
  • Plan Option B-
  • Purchase Immediate Annuity from the proceeds of Reverse Mortgage loan offered by any approved financial institution as mentioned in the Gazette of India.
  • Choose from 2 Annuity options
Eligibility:
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Age at Entry
Plan Option A
Minimum In case of purchase of annuity with policy proceeds from any of SUD Life deferred pension plans, the minimum entry age of annuitant is 0 Years. In case of purchase of annuity with policy proceeds from any other deferred pension plans or from policy holder’s savings (i.e. through Open Market Purchase Option) the minimum entry age of annuitant is 45 Years.
Maximum 99 Years
Plan Option B
Minimum For policies purchased through Reverse Mortgage Loan: 60 Years age last birthday
Maximum 99 Years age last birthday