Immediate Annuity plans
In the Previous post on the pension plans list in India, we had given you the detailed list on the deferred Annuity plans available in the market. Now we are going to see the Immediate Annuity plans list in India. To know the various types of Annuities you may read our post on Annuity meaning and its types. Here the name Immediate Annuity itself suggests that the benefit is received immediately. Here you need to pay a lumpsum amount to the insurance company and they pay you Annuity(pension) every month starting immediately.
Lets See the Immediate Annuity Plans Available with the Insurance companies in India.
|COMPANY NAME||IMMEDIATE ANNUITY|
|Aegon Religare Life Insurance Co. Ltd.||NOT AVAILABLE|
|Aviva Life Insurance Co. India Ltd.||Aviva Annuity Plus|
|Bajaj Allianz Life Insurance Co. Ltd.||Bajaj Allianz Pension Guarantee|
|Bharti AXA Life Insurance Co. Ltd.||NOT AVAILABLE|
|Birla Sun Life Insurance Co. Ltd.||BSLI Immediate Annuity Plan|
|Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd.||NOT AVAILABLE|
|DHFL Pramerica Life Insurance Co. Ltd.||NOT AVAILABLE|
|Edelweiss Tokio Life Insurance Co. Ltd||Edelweiss Tokio Life – Immediate Annuity Plan|
|Exide Life Insurance Co. Ltd.||Exide Life Immediate Annuity|
|Future Generali India Life Insurance Co. Ltd.||FG Immediate Annuity plan|
|HDFC Standard Life Insurance Co. Ltd.||HDFC Life New Immediate Annuity Plan|
|ICICI Prudential Life Insurance Co. Ltd.||ICICI Pru Immediate Annuity|
|IDBI Federal Life Insurance Co. Ltd.||NOT AVAILABLE|
|IndiaFirst Life Insurance Co. Ltd||IndiaFirst Annuity Plan|
|Kotak Mahindra Old Mutual Life Insurance Ltd.||Kotak Lifetime Income Plan|
|Life Insurance Corporation of India||Jeevan Akshay VI|
|Max Life Insurance Co. Ltd.||NOT AVAILABLE|
|PNB MetLife India Insurance Co. Ltd.||NOT AVAILABLE|
|Reliance Life Insurance Co. Ltd.||Reliance Immediate Annuity Plan|
|Sahara India Life Insurance Co. Ltd.||NOT AVAILABLE|
|SBI Life Insurance Co. Ltd.||SBI Life - Annuity Plus|
|Shriram Life Insurance Co. Ltd.||Shriram Immediate Annuity Plan|
|Star Union Dai-Ichi Life Insurance Co. Ltd.||SUD Life Immediate Annuity Plus|
|Tata AIA Life Insurance Co. Ltd.||NOT AVAILABLE|
Out of 24 Life insurance companies in India, Only 15 are having Immediate Annuity plans. This shows how difficult it is to maintain Annuity plans. This is because of the long term commitment of these type of plans. Once the client buys a Immediate annuity plan, the company is liable to pay pension to the client till his whole life term.
We are working on the Top 10 Immediate Annuity Plans in India which will be released Soon. And You may request for individual reviews of any of these plans in the comment area.