Immediate Annuity

Pay Once

Get Guaranteed Income For Life

Get Guaranteed Income
For Life

  • 8 wide range of annuity options to suit your needs
  • 8 wide range of annuity options to suit your needs
  • Pension continues for your family member3 even in your absence
  • Get full return of premium on diagnosis of critical illness1
offer Get more annuity with the same investment - 1% extra annuity on buying online*
Online pension calculator
Online Pension Calculator

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One time investment Purchse 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 pension without sharing your personal details, click here.

Retirement challenge
Retirement challenge

Benefits of ICICI Pru Immediate Annuity Plan

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 a wide range of annuity options to help you plan a more secure future for you and your loved ones.

Calculate Pension
  • 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.

Calculate Pension

Why Choose ICICI Prudential Life^^

1,50,000 Cr+
Assets Under Management as on March 31, 2020
1,93,00 Cr+
Benefit paid up till March 31, 2020
1.6 Days
Average claim settlement time

Need help?

Our experts are happy to answer any questions you may have

Call us at +91-2262955609

Call centre hours - 9.00 a.m. - 9.00 p.m., all days

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Things you need to Know

Online Booster : 1% higher annuity will be offered for policies purchased online.

Loyalty Booster : 1% higher annuity will be offered for policies purchased by an existing ICICI Prudential Customer.

NPS Benefit : 1% higher annuity will be offered for policies purchased using proceeds out of NPS

Customers can opt for only one of either Online Booster, Loyalty Booster or NPS Benefit.

Guaranteed Pension Plan (Immediate Annuity) shall be offered to individuals who need income for life and want to purchase annuities from their savings or their NPS corpus.

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 Options
Minimum Age at Entry
Maximum Age at Entry
Single Life with Return of Purchase Price at Age 80 30 65
Single Life with Return of Purchase Price from the Age of 76
Single Life with 50% Return of Purchase Price at Age 80
Single life with Return of Purchase Price on Critical illness (CI) or Permanent Disability due to accident (PD) or Death
Deferred Single Life with Return of Purchase Price on Critical illness (CI) or Permanent Disability due to accident (PD) or Death
30 70
For all other Deferred Annuity Options 30 85
For all other options 30 100

In case of annuity being purchased from the proceeds arising out of the surrender benefit, maturity benefit or death benefit payable under Pension accumulation plans, minimum age at entry would be 0 years for Immediate Annuity options and 30 years for Deferred annuity options. If the Annuitant is a minor, then the policy shall not automatically vest on the Annuitant attaining the age of majority.

In case of Joint life annuity, age restrictions apply to both lives.

Minimum annuity payouts shall be in accordance with IRDAI (Minimum limits for Annuities and other benefits) Regulations, 2015. The minimum annuity per annum is Rs. 12,000, (Rs. 1,000 per month) but there are no maximum limits. Minimum purchase price that will produce the minimum annuity mentioned above will depend on the annuity rates, as applicable. The minimum annuity amount shall not be applicable for top up annuity.

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.

There is an option to increase the annuity by paying an additional Purchase Price/ Premium. The additional annuity will be calculated using the then prevailing annuity rates and the age of the Annuitant at the time of top-up. This option can be chosen anytime while the policy is in-force. For more details, please refer to the product brochure.

The Policyholder has the option to review the policy after receipt of the policy document. If the Policyholder is not satisfied with the terms and conditions of this policy, the policy document needs to be returned to the Company, with reasons for cancellation of the policy within:

  • 15 days from the date of receipt of the policy document
  • 30 days from the date of receipt of the policy document, in case of electronic policies or policies purchased through (i) voice mode, which includes telephone- calling (ii) short messaging service (SMS) (iii) electronic mode which includes e-mail, internet and interactive television (DTH) (iv) physical mode which includes direct postal mail and newspaper and magazine inserts and (v) solicitation through any means of communication other than in person.

Why people do buy online?

Why 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.

Why buy online

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
Back Buying for - self Male 31years

One time investment

Purchse Price is exclusive of taxes info
Or enter amount of your choice

Annuity Frequency

I want pension for

NPS user?

What is this? Select Yes if you want to transfer funds from your NPS account to buy annuity
Joint life details: manish, 37 years, Father
Edit

I want pension for me with annuity frequency of yearly

EDIT
Back Buying for - self Male 31 years

One time investment

Purchse Price is exclusive of taxes info
Or enter amount of your choice

Annuity frequency

NPS user?

What is this? Select Yes if you want to transfer funds from your NPS account to buy annuity

I want pension for

Joint life details: Diana, 35 years, Father
Edit
Choose the annuity plan, that works best for you
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Single life without Return of Purchase price:

I get annuity for my entire life. On my death, no further benefits would be payable by the Company and the policy shall terminate

Annuity Amount

60,495yearly

I get annuity for my entire life. On my death, no further benefits would be payable by the Company and the policy shall terminate

NPS – Family Income (available for National Pension System (NPS) subscribers only)

This benefit will be payable in accordance with the regulations Prescribed by annuity Fund Regulatory and Development Authority (PFRDA). Details

Annuity Amount

60,495yearly

I get annuity for my entire life. On my death, no further benefits would be payable by the Company and the policy shall terminate

Single Life with Return of Purchase Price at Age 76

I get annuity for my entire life. In addition to the annuity, from age 76 years to 95 years, 5% of the Purchase Price will be paid me every year as per the annuity payout frequency chosen at inception. On my death before the age of 76 years, Purchase price will be paid to my nominee and the policy shall terminate and no further benefits would be payable. On my death after the age of 76 years, the balance Purchase Price, if any, will be paid to my nominee and the policy shall terminate and no further benefits would be payable.

Annuity Amount

59,741yearly

Read More

I get annuity for my entire life. In addition to the annuity, from age 76 years to 95 years, 5% of the Purchase Price will be paid me every year as per the annuity payout frequency chosen at inception. On my death before the age of 76 years, Purchase price will be paid to my nominee and the policy shall terminate and no further benefits would be payable. On my death after the age of 76 years, the balance Purchase Price, if any, will be paid to my nominee and the policy shall terminate and no further benefits would be payable.

Please select payout option

Why Choose ICICI Prudential Life^^

1,50,000 Cr+
Assets Under Management as on March 31, 2020
1,93,00 Cr+
Benefit paid up till March 31, 2020
1.6 Days
Average claim settlement time

1To know more about the exclusions and T&Cs of Critical Illness and Permanent Disability, please refer the product brochure

2This option can be chosen anytime while the policy is in-force.

3This option is available only with Joint Life. Joint life can be either the spouse, children, parents or siblings

*You can get a discount of 1% on the purchase price when you buy online. NPS, Loyalty and Online discount cannot 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.

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

~Your annuity is informed to you when you buy the plan and is guaranteed and unchanged for life.

^^Source: https://www.iciciprulife.com/content/dam/icicipru/about-us/mediacentre/ICICI_Pru_Life-FY2020_Earnings_release-25_April_2020.pdf

Comp code.(Existing Customer Message) - COMP/DOC/Dec/2020/1412/5002

UIN. 105N181V01 Advt. No.: W/II/3316/2021-22

© 2016, ICICI Prudential Life Insurance Company Limited. IRDAI Regn No. 105. CIN: L66010MH2000PLC127837. 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 +91-2262955609 (9.00 a.m. – 9.00 p.m., all days, except national holidays and valid only for calls made from India). For enquires related to new policies purchased online, please call us on 1860 267 9997 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.

BEWARE OF SPURIOUS / FRAUD PHONE CALLS!
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

irdai cautions public against spurious calls and FICTITIOUS offers