The minimum premium varies by insurer and plan type. Typically, it starts from a modest amount and can go up depending on the desired benefits and payout options.
Yes, most Annuity Plus Plans offer flexibility in premium payment frequency, allowing you to choose from single, annual, semi-annual, quarterly, or monthly payments.
Common riders include life cover, critical illness, disability benefits, and accidental death benefits, enhancing the coverage of your plan.
Yes, premiums paid towards Annuity Plus Plans may qualify for tax deductions under Section 80C of the Income Tax Act, and the income received may have tax benefits under prevailing tax laws.
In the event of the policyholder’s death, the plan may offer a lump sum payout or continued annuity payments to the nominated beneficiaries, depending on the plan’s terms.
While annuities are typically long-term contracts, some plans may allow for surrender under certain conditions, though this may involve penalties or reduced benefits. Always review the terms of your policy.