ICICI Pru Immediate Annuity

Annuity Plan- Pay Once

Get Guaranteed Income for Life

Additional pension for Online* & NPS Subscribers1

  • 12 wide range of annuity options to suit your needs
  • Option to continue pension for spouse after you
  • Option to get full return of corpus on Critical Illness

Online Pension Calculator


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Annuitant is a person who receives annuity. info
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One time investment Purchase Price is exclusive of taxes info

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By submitting my details, I override my NDNC registration and authorize ICICI Prudential and its representatives to contact me through call or WhatsApp. I further consent to share my information on confidential basis with third parties for evaluating and processing this proposal.

To undergo suitability analysis, please click here By not undergoing the suitability analysis, you confirm to purchase the policy based on your independent assessment of the suitability of the product

If you wish calculate your premium without sharing your personal details, click here.

Retirement challenge
Retirement challenge

Benefits of ICICI Pru Immediate Annuity Plan

Annuity plan for Every Retirement Challenge

Different people have different retirement needs and goals. That’s why we offer annuity products with wide range of annuity options to help you plan for a more secure future for you and your loved ones.

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  • 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/s 80CCC and commutation u/s 10(10A) of the Income Tax Act, 1961.

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Need help?

Our experts are happy to answer any questions you may have

Call us at +91-2262955609

Call centre hours - 9.30 a.m. - 6.30 p.m. Monday-Saturday

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Things you need to Know

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. You can get discount of 1% on the purchase price when you buy online. Both NPS and Online discount can not be taken together.

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 from proceeds of 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.

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

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

Annuity
Annuitant
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

You get annuity for life till first occurrence of any of the 7 specified critical illnesses, before the age of 80 years, or death. The purchase price is returned to me/nominee, in ease of first occurrence of any of the 7 specified 7 CI or PD before the age of 80 years, or death.

Following Critical illnesses are covered under the option:

  • 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.

Why buy online

Why people buy online?

Buying Assistance

We have set up a dedicated team to provide to you complete assistance for buying online.

Ease Of Buying Online

Buying insurance online is simple and fast and takes just 5 minutes**. Do it at your convenience.

Exclusive Online Discount

Purchase the policy online and enjoy an exclusive 1% discount* on purchase price.

Service Assistance

You can update your policy details via Email, Facebook or Twitter. If you are not satisfied with the plan, you can cancel it within 30 days of receipt of policy documents.

4 Simple Steps to Buy Online

  • Pay Once
    Pay Once

    You can buy the plan with just one lump-sum payment.

    next
  • Pick Annuity
    Pick Annuity Frequency

    You choose the frequency of the annuity payout

    next
  • Select Annuity Option
    Select Annuity Option

    You choose how you want to receive the annuity.

    next
  • Get Lifelong Income
    Get Lifelong Income

    Your annuity starts and continues for your entire life.

 why-buy-online-one  why-buy-online-two

Choose the annuity plan, that works best for you

I want pension for me with annuity frequency of yearly

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I will investPurchase Price is exclusive of taxesinfo

NPS user? Select Yes if you want to transfer Funds from Central Record Keeping Agency- CRA to buy annuityinfo

Annuity frequency

I want pension for

This option is available specifically for National Pension System (NPS) subscribers only
Payout options
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Life Annuity

I get annuity for my entire life.

` 92,639

Yearly

Life Annuity guaranteed for a period of 5 years,10 years or 15 years and thereafter for life

I get annuity for a guaranteed period as chosen by me, and life thereafter. In case of demise during the guaranteed period, annuity for the remaining guaranteed period will be paid to my nominee.

Choose annuity period
Read more

I get annuity for a guaranteed period as chosen by me, and life thereafter. In case of demise during the guaranteed period, annuity for the remaining guaranteed period will be paid to my nominee.

Choose annuity period

` 92,639

Yearly

Life Annuity with an annual increase of 5%

Read more

I get annuity for life with an increase at a simple rate of 5% for each complete policy year throughout my life.

` 92,639

Yearly

1Discount of 0.5% on the Purchase Price for National Pension Scheme (NPS) subscribers.

*You can get discount of 1% on the purchase price when you buy online. Both NPS and Online discount can not be taken together.

#Tax benefits are subject to conditions of section 80CCC,10(10A) and other provisions of the Income Tax Act, 1961. Goods & Services Tax and cesses, if any, 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.

**Policy Issuance is subject to realization of payment and validations of required documents.

^Nominee will get the purchase price depending on the annuity option selected at the time of inception.

ICICI Pru Immediate Annuity Form No. I06/I07 UIN. 105N009V15 Advt. No.: W/II/0925/2019-20

© 2016, ICICI Prudential Life Insurance Company Limited. Registered Address:- ICICI PruLife Towers, 1089, Appasaheb Marathe Marg, Prabhadevi, Mumbai-400025. For more details on the risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale. Call us on 1-860-266-7766 (10am-7pm, Monday to Saturday, except national holidays and valid only for calls made from India). For enquires related to new policies purchased online, please call us on 1-860-266-7766 and select option 4 on our Interactive Voice System. Trade Logo displayed above belongs to ICICI Bank Ltd & Prudential IP services Ltd and used by ICICI Prudential Life Insurance Company Ltd under license. Tax benefits under the policy are subject to conditions under Sec. 80C, 80D and Sec 10(10D) of the Income Tax Act, 1961. Applicable taxes will be charged extra as per prevailing rates. Tax laws are subject to amendments from time to time.

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