Exit Intent Popup /Assets/Project/ABCL/images/close-button.svg

Get Guaranteed Returns After a Month^

Unlock the Power of Smart Investment!

*Min 3 characters
+91
*Please enter a valid 10 digit Mobile No.
Exit Intent Popup /Assets/Project/ABCL/images/close-button.svg
/Assets/Project/ABCL/images/Icon-Filled.svg

I agree to the Terms of Usage and Privacy Policy. By submitting my contact details here, I override my NDNC registration and authorize ABSLI to contact me by phone/e-mail/SMS/WhatsApp. Trade Logo "Aditya Birla Capital" displayed above is owned by ADITYA BIRLA MANAGEMENT CORPORATION PRIVATE LIMITED (Trademark Owner) and used by ADITYA BIRLA SUN LIFE INSURANCE COMPANY LIMITED (ABSLI) under the license. 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. ABSLI Nishchit Aayush is a non-linked non-participating individual savings life insurance plan (UIN No 109N137V05)

/Assets/Project/ABCL/images/Icon-Filled.svg

Thank you

for your details.

We will reach out to you shortly.

Immediate Annuity

2.5
Rated by 12 readers
Definition:
Immediate Annuity is an insurance policy that pays guaranteed3 income immediately in exchange for a lump sum premium. The policyholder begins to receive the annuity payout immediately after the deposit. 
Description:
When any individual invests in an annuity plan, they generally pay the premiums over the accumulation period of a few years. After the accumulation period is over, the payout begins. But in the case of an immediate annuity, the accumulation period is one-twelve months because, generally, these plans seek a one-time lump sum premium payment. The policyholder can get the regular annuity payouts after the policy goes live. 

An immediate annuity is purchased with a single premium, and the payments to the annuitants begin when one payment period, month, or year ends. The annuity type is designed to provide income payments for a specified period in exchange for lump sum payments. An immediate annuity provides an immediate income, so people entering retirement should invest in an immediate annuity.  

Example:
Ritesh, aged 45 years, worked with a private bank. His retirement was due in a few years. Thinking of his future financial security, Ritesh purchased an immediate annuity plan. 

As per the plan, he will start to receive the annuity as a regular income. Ritesh purchased a single premium immediate annuity for Rs.10 lakhs. Under this type of annuity, he had to pay one single lump sum premium, and he will receive the payout annually. The policy term offered under the immediate annuity plan was for whole life. As per the plan, Ritesh will receive an annuity of Rs.80,000/- for his whole life. 
How much helpful you found for you?
2.5
Rated by 12 readers
2.5 / 5 ( 12 reviews )
Not Helpful
Somewhat Helpful
Helpful
Good
Best

Thank you for your feedback

Don’t forgot to share helpful information in your circle

Newly Added Terms

Newly Added Terms on Insurance Dictionary

Most Appreciated Terms

Most appreciated Terms on Insurance Dictionary

Thank you for your details. We will reach out to you shortly.

Thank you for your details.Currently we are facing issue in our system.

Give ₹10 lakhs/ year for 5 years and Get ₹6.9 lakhs¹ every year till your life
Please enter a valid First Name.
+91 Mobile Phone
Please enter a valid Mobile Number.
*This field is required.
Buy ₹1 Crore Term Cover @ @Rs.492/month for Salaried Individuals¹
ABSLI Guaranteed Annuity Plus
ABSLI Guaranteed Annuity Plus
Guaranteed Income for a dream retired life.
ABSLI Saral Pension Plan
Guaranteed³ lifelong income
ABSLI Saral Pension Plan
Top-up option for annuity
ABSLI Saral Pension Plan
Single/Joint Life cover option
ABSLI Saral Pension Plan
Deferred annuity option
Give :
₹10 lakhs/year
Get :
₹6.9 lakhs¹ every year
  • Disclaimer

    1 Male age 60 years, Annuity Option -Life Annuity, Annuity Payout Frequency-Annual, Option chosen of Premium, Purchase Price Rs.10,00,000, Level Annuity, PPT: Single Pay, Single Life. Receive Annuity Rs.87,314 per annum
    ABSLI Guaranteed Annuity Plus is a Non-Linked, Non-Participating, General Annuity Plan (UIN: 109N132V07)
    3Provided all due premiums are paid
    ADV/9/22-23/1534