Everything You Should Know About ICICI Prudential Guaranteed Pension Plan - Immediate Annuity

Your retirement is a milestone in your life that needs to be celebrated. After all the hard work you’ve put in, this is something you look forward to. With a retirement corpus, you fulfil your post retirement goals. You can create a retirement corpus with the help of a pension plan. ICICI Prudential Guaranteed Pension plan is a pension plan that can help you create a retirement corpus.
ICICI Prudential Guaranteed Pension Plan (Immediate Annuity) provides a regular stream of income throughout your life after you retire to ensure that you have financial independence during the post retirement period of your life. 

Key Benefits Of ICICI Prudential Guaranteed Pension Plan - Immediate Annuity

Below mentioned are benefits available under ICICI Prudential Guaranteed Pension plan - Immediate Annuity:

1. Guaranteed Lifelong Annuity

Under ICICI Prudential Guaranteed Pension plan you get the option to pay once and avail guaranteed regular income for your entire life. This way you ensure your financial independence in the post retirement period of your life. 

2. Flexibility

This plan provides the flexibility to receive the annuity amount on a monthly, quarterly, half-yearly or a yearly basis. 

3. Joint Life Cover Option

Under this plan you get the option to get joint life cover i.e get your spouse covered under the same policy. 

4. Wide Range of Annuity Options

ICICI Prudential Guaranteed Pension plan a wide range of immediate annuity options to choose from such as Single Life without Return of Purchase Price, Joint Life without Return Purchase Price, Single Life with Return of Purchase Price, Joint Life with Return Purchase Price, Single Life with 50% Return of Purchase Price at Age 80, Joint Life with 50% Return of Purchase Price at Age 76 and Single life with return of purchase price on Critical illness or Permanent Disability due to accident or Death. You can choose an annuity option according to your requirements.  

To Conclude

ICICI Prudential Guaranteed Pension Plan is a retirement plan that helps you to enjoy a financially independent life after retirement. Under this plan several benefits are provided such as guaranteed lifelong annuity, several annuity options to choose from, tax benefits etc.  

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Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.