Are you ready for your second innings ?

One thing in life is certain - your retirement years will be an amazing journey of self-discovery. But remember, whatever plans you have in store, you need to keep some money aside to secure your future. The first basic requirement after retirement is to ensure you have a steady flow of income so that your regular expenses are covered.

With ICICI Pru Immediate Annuity, you won't have to worry. This plan provides you with guaranteed income for your entire life. That's not all, the plan also gives you a wide range of annuity options that can provide a secure future for you, your spouse and even to your grandchildren.

Benefits Of ICICI Pru Immediate Annuity

Lifelong Income
Once you have bought the plan, your regular income can start as soon as the next month and is guaranteed for life.
Flexibility in Payouts
You get freedom to choose from a wide range of annuity options to suit your specific needs.
Safe Investment
Your annuity is informed to you when you buy the plan and is guaranteed for life.
Tax benefits#
You get tax benefits# on premium paid u/Sec 80CCC and commutation u/Sec 10(10A) of the Income Tax Act, 1961.

Wide Variety Of Payout Options

4 Simple Steps To Buy Online

Pay Once
You can buy the plan with just one lump-sum payment.
Select Pension Option
You choose how you want to receive the annuity.
Pick Pension Frequency
You choose the frequency of the annuity payout.
Get Lifelong Pension
Your annuity starts and continues for your entire life.

Things you need to know

What other benefits come with this plan?

Discount for National Pension Scheme (NPS) subscribers: There is an exclusive discount of 0.5% on the Purchase Price for NPS subscribers. This discount will be given in the form of higher annuity.

Who all can buy this plan?

Immediate Annuities shall be offered to both individual and group customers, this will include:

  • Individuals who need income for life and want to purchase annuities from their savings or their NPS corpus

  • Individuals who want to purchase annuities under deferred pension plans offered by ICICI Prudential Life Insurance Company Limited.

  • Group Members who want to purchase annuities from their superannuation fund managed by ICICI Prudential Life Insurance Company Limited or otherwise.

What is the maximum and minimum Annuity per annum?

The minimum annuity per annum is ₹ 12,000, but there are no maximum limits on this.

What are the boundary conditions?

The minimum age at entry for the annuitants is as follows:

Nominee of a deferred pension plan
Group Superannuation 30 Years last birthday in case of single life annuity
30 Years last birthday in case of joint life annuity
0 Years last birthday
Individual Standalone 30 Years last birthday;
20 years last birthday for nominee of National Pension Scheme(NPS);
55 Years last birthday if the policy is purchased as QROPS through
transfer of UK tax relieved assets
0 Years last birthday

What all Critical illnesses are covered under the plan?

Following Critical illnesses are covered under the plan:

  • Cancer of Specified Severity

  • Heart Attack

  • Coronary Artery Bypass Graft Surgery (CABGS)

  • Kidney Failure

  • Stroke

  • Major Organ Transplant (as Recipient)

  • Permanent Paralysis of limbs

For definition of illnesses covered and terms & conditions, please refer sales brochure.

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#Tax benefits are subject to conditions of section 80CCC,10(10A) and other provisions of the Income Tax Act, 1961. Indirect taxes and cesses will be charged extra, as per applicable rates. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.

*Annuity rates mentioned above are exclusive of Goods and Services Tax (GST). For Joint life, age of spouse has been considered as equal to proposer.

ICICI Pru Immediate Annuity Form No. I06/I07. UIN 105N009V11. W/II/0970/2017-18.