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SUD Life Immediate Annuity Plus

SUD Life Immediate Annuity Plus is a Non-Linked, Non-Participating Individual Immediate Annuity plan, which assures a regular stream of income as per the plan option chosen.

For more details please refer brochure in downloads section.

Lifelong income with 3 Plan Options to choose from

Plan Option A-

Purchase Immediate Annuity either from your savings or from the policy proceeds of any Deferred Pension Plan (issued by SUD Life).

Choose from 9 Annuity options.

Plan Option B-

Purchase Immediate Annuity from the proceeds of Reverse Mortgage loan offered by any approved financial institution as mentioned in the Gazette of India.

Choose from 2 Annuity options.

Plan Option C-

Purchase Immediate Annuity from proceeds of National Pension Scheme.

NPS subscribers who have opted for default option, Annuity option 6 shall be applicable.

Annuity Option 2 can also be utilized for the default option (in case of no spouse).

Annuity Options

Plan Option A: 9 Annuity options to choose from :

Life Annuity

Life Annuity with Return of Purchase Price

Increasing Life Annuity with Return of Purchase Price

Joint Life Annuity (50%)

Joint Life Annuity (100%)

Joint Life Annuity (100%) with Return of Purchase Price

Annuity certain for 10 years

Annuity certain for 15 years

Annuity certain for 20 years

Plan Option B: 2 Annuity options to choose from :

Life Annuity with Return of Purchase Price

Joint Life Annuity (100%) with Return of Purchase Price

Plan Option C: 2 Annuity options to choose from :

Life Annuity with Return of Purchase Price (Default option)

Joint Life Annuity (100%) with Return of Purchase Price (In case of no spouse)

Minimum Annuity Applicable

Mode of Annuity Payment	Min Annuity Amount
Yearly	Rs.12000
Half-Yearly	Rs.6000
Quarterly	Rs.3000
Monthly	Rs.1000

Annuities payable to NRI/OCI:

Annuities payable to NRI/OCI are subject to TDS and repatriation of the corpus, if any, will be subject to applicable laws and regulatory provisions of IRDAI/ PFRDA/ RBI.

Age at Entry

Plan Option A

Minimum- In case of purchase of annuity with policy proceeds from any of SUD Life deferred pension plans, the minimum entry age of annuitant is 0 Years

In case of purchase of annuity with policy proceeds from any other deferred pension plans or from policy holder’s savings (i.e. through Open Market Purchase Option) the minimum entry age of annuitant is 45 Years.

Maximum- 99 Years.

Plan Option B

Minimum- For policies purchased through Reverse Mortgage Loan: 60 Years age last birthday.

Maximum- 99 Years age last birthday.

Plan Option C

Minimum- 45 Years.

Maximum- 99 Years.