Pension plans of various insurers

Regular pay: 45-year-old individual with 10-year payment term and 10-year deferment investing Rs 10,000 per month (Single life with return on premium) Single pay immediate annuity: 60-year-old individual investing Rs 10 lakh annually (Single life with ROP) Single pay deferred annuity: 60-year-old individual with five-year deferment investing Rs 10 lakh annually (Single life with ROP)

Guaranteed income starts after the deferment period, which depends on the annuity amount chosen at the time of purchase of policy and the amount of premium paid. The policy remains in force until the lifetime of primary annuitant and after the death of primary annuitant until the lifetime of secondary annuitant. The option to choose joint life plan and life annuity with 100 per cent return of premium is also available.
Source: Policybazaar