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Tata AIA Life Easy Retire Plan

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This plan has been withdrawn by the insurance company and is no longer available for sale.

 

Tata AIA Life Easy Retire Plan
 
Tata AIA Life Easy Retire Plan is an Individual Immediate Annuity Plan with Return of Purchase Price. It is a Traditional Plan without Bonus facility.
 
How it works – In this plan, premium need to be paid in a lumpsum at the beginning of the plan. The Single Premium paid is the purchase price of the plan.
 
The Annuity Payments are made throughout the lifetime of the Annuitant. There is a choice of mode for Annuity payment of Monthly, Quarterly, Half Yearly or Yearly. Once the annuity has been purchased, the rate remains constant for the entire lifetime. However, once the Annuitant dies, the Purchase Price is returned to the nominee and the Annuity stops.
 
There are no Medical Requirements in this plan for issuance of the policy.
 
 
Key Features of Tata AIA Life Easy Retire Policy
 
  • It is an Immediate Annuity where the premium needs to be paid in a lumpsum
  • This is an Individual Annuity Plan without Bonus facility
  • In this plan, the Annuity is paid to the Annuitant as long as he lives
  • On death of the Annuitant, the Purchase Price is returned to the nominee
  • Annuity can be paid Monthly, Quarterly, Half Yearly or Yearly
  • There are no Medical Requirements in this plan for issuance of the policy
COMPARE THIS PLAN WITH OTHER PENSION PLANS

 
 
Benefits you get from Tata AIA Life Easy Retire Policy
 
Death Benefit – Whenever the Annuitant dies, the Purchase Price or the Single Premium paid is returned to the nominee and the policy terminates.
 
Maturity Benefit – There are no Maturity Benefit in this plan as the plan continues as long as the Annuitant is alive.
 
Income Tax Benefit – Premium paid under this plan is eligible for a Tax Deduction till Rs 1,00,000 under section 80C of the Income Tax Act, 1961.
 
 
Eligibility conditions and other restrictions in Tata AIA Life Easy Retire Insurance Policy
 

 

 
Minimum
Maximum
Policy Term (in years)
Lifetime
Premium Payment Term (in years)
Single
Entry Age of Annuitant (in years)
21
80
Age at Maturity (in years)
-
Till Death
Purchase Price (in Rs.)
50,000
No LImit
Annuity Installment (in Rs.)
3,000 p.a.
No Limit
Payment modes
Only Single
 
 
Additional Features and Benefits of Tata AIA Life Easy Retire Plan
 
Riders – There are no additional riders in this plan
 
 
What happens if?
 
You stop paying the premium – Being a Single Premium Plan; there is no further requirement of any Premium payment.
 
You want to surrender the policy – There are no Surrender Benefits in this plan.
 
You want a loan against your policy – Loan facility is not available in this plan.
 
 
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