Product Information
Group Plans
Immediate Annuity
Synopsis:
Tata AIA Life Insurance Group Immediate Annuity with Return of Purchase Price plan, the ideal solution to convert your employee's corpus to regular income.
Features:
- All your employee has to do is pay or authorize transfer of a single premium to Tata AIA Life Insurance Company Limited (This amount is their purchase price)
- They need to choose annuity payment modes (the frequency at which they want the income) - monthly, quarterly, half-yearly or yearly
- Tata AIA Life guarantees you a rate per thousand at the time of purchase and this depends on the age as well as the purchase price
- Employee needs to opt for either receiving post dated cheques or a direct credit into their bank account i.e. PDCs / ECS
Eligibility:
|
Minimum Purchase amount |
Rs. 50,000 |
|
Minimum age of purchase |
21 years |
|
Maximum age of purchase |
80 years |
|
Policy period |
Life time |
|
Premium payment Period |
Single |