How does the Plan Work?

• All you have to do is pay a single premium to Tata AIG Life Insurance Company Ltd. (This amount is your purchase price)
• Choose annuity payment modes [the frequency at which you want the income] - monthly, quarterly, half-yearly or yearly
• Tata AIG Life Insurance Company Ltd guarantees you a rate per thousand at the time of purchase and this depends on the age as well as purchase price.
• Opt for either receiving post dated cheques or a direct credit into your bank account. i.e. PDCs / ECS

Definition:

  Annuity - Series of regular payments received by the policy holder

  Annuitant - Person who receives the annuity benefit.

  RoPP - In this plan the annuity is paid to the annuitant throughout his/her life. On the death of the annuitant the purchase price is returned to the nominee.

Entry Conditions

Please Note:

• No surrender permitted under this plan.
• Tata AIG Life Insurance Company Ltd. reserves the right to review the annuity rates, subject to IRDA's prior approval.
• Please ask for latest rates at the time of purchasing the annuity plan
• Once the annuity is bought, the rate remains constant throughout the lifetime of the annuitant
• Once the frequency of payment is opted it cannot be changed
• No loan will be available under this plan
• Incentives available for higher purchase price
• Please refer to the policy documents for more details