Tata AIA Group Immediate Annuity with Return of Purchase Price Plan, Policy, Premium and Maturity Calculator
Tata AIA Group Immediate Annuity with Return of Purchase Price Plan, Policy, Premium and Maturity Calculator - Today your employees are busy working hard to achieve their goals. They are going to retire one day. No matter how they want to live their lives after retirement they need to plan and arrange for a regular income.
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.
Tata AIA Life Group Immediate Annuity with Return of Purchase Price - Key Features
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How does the Plan Work?
- 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
Please Note:
- No surrender permitted under this plan
- Tata AIA Life 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 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 policy document for more details
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