Eligibility Criteria
Age at Entry with respect to Annuity Options
| Annuity Options | Minimum Age | Maximum Age |
| F | 18 | 100 |
| E1 & E2 | 18 | 65 |
| E3, E4 & E5 | 18 | 70 |
| A, B1, B2, B3, B4, C1, C2, D, G1, G2, H1, H2, I1, I2, J | 18 | 85 |
Minimum Purchase Price: Rs. 1,00,000
Maximum Purchase Price: No Limit
Minimum Annuity:
| Annuity Mode | Monthly | Quarterly | Half-Yearly | Yearly |
| Annuity Options | 1000 | 3000 | 6000 | 12000 |
Maximum Annuity: No Limit
Mode of Premium: Single
Annuity Options for Singel Life
| Option A | Life annuity |
| Option B1 | Annuity Certain for 5 years and life thereafter |
| Option B2 | Annuity Certain for 10 years and life thereafter |
| Option B3 | Annuity Certain for 15 years and life thereafter |
| Option B4 | Annuity Certain for 20 years and life thereafter |
| Option C1 | Life Annuity increasing at a simple rate of 3% p.a. |
| Option C2 | Life Annuity increasing at a simple rate of 6% p.a. |
| Option D | Life annuity with Return of Balance Pur- chase Price |
| Option E1 | Life annuity with 50% Return of Pur- chase Price after attaining age 75 years |
| Option E2 | Life annuity with 100% Return of Pur- chase Price after attaining age 75 years |
| Option E3 | Life annuity with 50% Return of Pur- chase Price after attaining age 80 years |
| Option E4 | Life annuity with 100% Return of Pur- chase Price after attaining age 80 years |
| Option E5 | Life annuity with 5% Return of Purchase Price each year after attaining age 76 years to 95 years |
| Option F | Life annuity with Return of Purchase Price |
Annuity Options for Joint Life
| Option G1 | Joint Life annuity with a provision of 50% of annuity to Secondary Annuitant on death of the Primary Annuitant |
| Option G2 | Joint Life annuity with a provision of 100% of annuity to Secondary Annui- tant on death of the Primary Annuitant |
| Option H1 | Joint Life annuity increasing at a simple rate of 3% p.a. with a provision of 50% of annuity to Secondary Annuitant on death of the Primary Annuitant |
| Option H2 | Joint Life annuity increasing at a simple rate of 6% p.a. with a provision of 50% of annuity to Secondary Annuitant on death of the Primary Annuitant |
| Option I1 | Joint Life annuity increasing at a simple rate of 3% p.a. with a provision of 100% of annuity to Secondary Annuitant on death of the Primary Annuitant |
| Option I2 | Joint Life annuity increasing at a simple rate of 6% p.a. with a provision of 100% of annuity to Secondary Annuitant on death of the Primary Annuitant |
| Option J | Joint Life annuity with a provision of 100% of the annuity payable as long as one of the Annuitant survives and Re- turn of Purchase Price on death of Last Survivor |
Surrender Value
The policy can be surrendered at any time during the policy term subject to realization of the premium cheque under the Annuity Options – D, E1, E2, E3, E4, E5, F and J only.
If the chosen annuity option is other than specified above, surrender of policy shall not be allowed.
Loan
Loan shall be available under the Annuity Options – E1, E2, E3, E4, E5, F and J only. Under joint life annuity option, the loan can be availed by the Primary Annuitant and in case of death of Primary Annuitant the same can be availed by the Secondary Annuitant.
Loan facility shall be available at any time after three months from the completion of policy (i.e. 3 months from the date of issuance of policy) or after expiry of the free-look period, whichever is later, subject to terms and conditions as the Corporation may specify from time to time.
Death Benefit
Under the annuity options where the benefit is payable on death i.e. Annuity Options-D, E1, E2, E3, E4, E5, F and J.
The Annuitant(s) will have to choose one of the following options for the payment of the death benefit, if any, to the nominee(s).
Lumpsum Death Benefit: Under this option the death benefit, if any, shall be payable to the nominee(s) in lumpsum.
Annuitisation of Death Benefit: The annuity amount payable to the nominee(s) on the admission of death claim shall be based on the age of nominee(s) and immediate annuity rates prevailing as on the date of death of Annuitant (last survivor in case of Joint Life Annuity). However, the annuity payments for each nominee(s) shall be subject to the eligibility conditions of the annuity plan available at that time and then prevailing Regulatory provisions on the minimum limits for annuities.
In Installment: Under this option the benefit amount payable on death in installments as per the chosen period of 5 or 10 or 15 years instead of lumpsum amount. This option can be exercised for full or part of the Death Benefit payable under the policy.