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Aviva Annuity Plus
Aviva Annuity Plus

ICICI Pru Immediate Annuity Plan
ICICI Pru Immediate Annuity Plan



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Aviva Annuity Plus
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ICICI Pru Immediate Annuity Plan

Aviva Annuity Plus and ICICI Pru Immediate Annuity

1 Details
1.1 Insurance Provider
Aviva India
ICICI Prudential Life insurance
1.2 Claim Settlement Ratio
1.2.1 Settlement Ratio (2015-16)
71.99%
Rank: 15 (Overall)
79.56%
Rank: 13 (Overall)
1.2.2 Settlement Ratio
LIC Bhagya Laks..
83.00%
Rank: 12 (Overall)
94.00%
Rank: 4 (Overall)
Edelweiss Tokio My Life Plus
1.2.3 Settlement Ratio (2013-14)
LIC New Jeevan ..
84.00 %
Rank: 17 (Overall)
94.01 %
Rank: 3 (Overall)
DHFL Pramerica Family Income
1.3 Type
Annuity Plan
Annuity Plan
1.4 Status
In-force
In-force
1.5 Online
32% Annuity Plans Life insurance plans have it !
32% Annuity Plans Life insurance plans have it !
1.6 Eligibility
1.6.1 Min Entry Age
AEGON Religare ..
50 years
Rank: 29 (Overall)
45 years
Rank: 28 (Overall)
Bajaj Allianz Cash Assure
ADD ⊕
1.6.2 Max Entry Age
ICICI Pru Immed..
80 years
Rank: 6 (Overall)
100 years
Rank: 1 (Overall)
Reliance Classic Plan 2
ADD ⊕
1.6.3 Min Vesting Age
Canara HSBC Sma..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Shriram Secure Investment Plan
ADD ⊕
1.6.4 Max Vesting Age
Bharti AXA Life..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
LIC New Children Money Back Plan
ADD ⊕
1.7 Policy Term
1.7.1 Min Term
Edelweiss Tokio..
Not Available
Rank: N/A (Overall)
5 years
Rank: 3 (Overall)
HDFC Life New Group Unit Linked Plan
ADD ⊕
1.7.2 Max Term
TATA AIA Fortun..
Not Available
Rank: N/A (Overall)
15 years
Rank: 29 (Overall)
HDFC Life New Group Unit Linked Plan
ADD ⊕
1.8 Returns
1.8.1 Min Sum Assured
Aviva Life Shie..
Not Available
Rank: N/A (Overall)
₹ 100
Rank: 1 (Overall)
ICICI Pru Immediate Annuity Plan
1.8.2 Min Sum Assured (Variable)
Not Mentioned
Not Available
1.8.3 Max Sum Assured
IDBI Federal Lo..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Kotak Gratuity Plus Group Plan
1.8.4 Max Sum Assured (Variable)
Not Mentioned
No Limit
1.9 Group Plan
11% Annuity Plans Life insurance plans have it !
11% Annuity Plans Life insurance plans have it !
1.9.1 Group Type
Employer-Employee, Not Applicable
Not Applicable
1.9.2 NEE Size
Metlife Group T..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Reliance Traditional Group Employee Benefit Plan
1.9.3 EE Size
Metlife Complet..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
HDFC Group Term Insurance
2 Premium
2.1 Minimum Premium
2.1.1 Min Premium
Kotak Preferred..
₹ 25000
Rank: 61 (Overall)
Not Available
Rank: N/A (Overall)
HDFC Life Group Credit Protect Insurance Plan
2.1.2 Min Premium (Variable)
Not Applicable
No Applicable
2.2 Maximum Premium
2.2.1 Max Premium
Metlife Traditi..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana
2.2.2 Max Premium (Variable)
No Limit
Not Applicable
2.3 Payment Options
Single Pay
Single Pay
2.4 Regular Modes
Not Applicable
Not Applicable
2.5 Top Up
Not Applicable
Allowed
2.5.1 Top Up Value
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Pension Plus
3 Loan And Benefits
3.1 Loan
No Annuity Plans Life insurance plans has it !
Not Applicable
3.2 Surrender
17% Annuity Plans Life insurance plans have it !
Not Applicable
3.2.1 Surrender Value
Not Applicable
Not Applicable
3.3 Benefits
3.3.1 Tax
74% Annuity Plans Life insurance plans have it !
74% Annuity Plans Life insurance plans have it !
3.3.2 Tax Benefit Amount
Not Applicable
Not Applicable
3.3.3 Service Tax
Applicable
Applicable
3.3.4 Maturity
No Annuity Plans Life insurance plans has it !
No Annuity Plans Life insurance plans has it !
3.3.5 Maturity Benefit Amount
Not Applicable
Not Applicable
3.3.6 Death
58% Annuity Plans Life insurance plans have it !
58% Annuity Plans Life insurance plans have it !
3.3.7 Death Benefit Amount
Not Applicable
On death the initial purchase price (premium paid in the beginning) is returned back to the nominee.
3.3.8 Annuity
26% Annuity Plans Life insurance plans have it !
26% Annuity Plans Life insurance plans have it !
3.4 Bonus
Not Available
Not Applicable
4 Provisions
4.1 Renewal
11% Annuity Plans Life insurance plans have it !
11% Annuity Plans Life insurance plans have it !
4.1.1 Renewal Period
Bajaj Allianz R..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
HDFC Life Group Unit Linked Pension Plan
4.2 Riders
4.2.1 Accidental Death
5% Annuity Plans Life insurance plans have it !
5% Annuity Plans Life insurance plans have it !
4.2.2 ADBR Description
Not Applicable
Not Applicable
4.2.3 Critical Illness
5% Annuity Plans Life insurance plans have it !
5% Annuity Plans Life insurance plans have it !
4.2.4 CI Description
Not Applicable
Not Applicable
4.2.5 Term Rider
No Annuity Plans Life insurance plans has it !
No Annuity Plans Life insurance plans has it !
4.2.6 TR Description
Not Applicable
Not Applicable
4.2.7 Permanent Disability
No Annuity Plans Life insurance plans has it !
No Annuity Plans Life insurance plans has it !
4.2.8 PD Description
Not Applicable
Not Applicable
5 Terms and Conditions
5.1 Grace Period
LIC Jeevan Raks..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
HDFC Group Term Insurance
ADD ⊕
5.2 Free Look Period
Mera Term Plan
15 Days
Rank: 2 (Overall)
15 Days
Rank: 2 (Overall)
Reliance Online Term
ADD ⊕
5.3 Exclusion On Base Policy
Not Applicable
Not Applicable
5.4 Charges
5.4.1 Premium Allocation
5% Annuity Plans Life insurance plans have it !
5% Annuity Plans Life insurance plans have it !
5.4.2 Premium Allocation Charge
Not Available
Not Available
5.4.3 Policy Administration
5% Annuity Plans Life insurance plans have it !
5% Annuity Plans Life insurance plans have it !
5.4.4 Policy Administration Charge
Not Available
Not Available
5.4.5 Fund Management
5% Annuity Plans Life insurance plans have it !
5% Annuity Plans Life insurance plans have it !
5.4.6 Fund Management Charge
Not Available
Not Available
5.4.7 Mortality
5% Annuity Plans Life insurance plans have it !
5% Annuity Plans Life insurance plans have it !
5.4.8 Mortality Charge
Not Available
Not Available
5.4.9 Switching
Not Allowed
Not Allowed
5.4.10 Switching Charge
Reliance Group ..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
SBI Life Kalyan ULIP Plus
5.4.11 Partial Withdrawal
Not Allowed
Not Allowed
5.4.12 Partial Withdrawal Charge
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Aviva Live Smart Plan
5.4.13 Premium Redirection
Not Allowed
Not Allowed
5.4.14 Premium Redirection Charge
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
SBI Life Kalyan ULIP Plus
5.5 Group Members
5.5.1 Addition
Not Allowed
Not Applicable
5.5.2 Deletion
Not Allowed
Not Applicable
5.6 Medical Examination
11% Annuity Plans Life insurance plans have it !
11% Annuity Plans Life insurance plans have it !

Compare Aviva Annuity Plus and ICICI Pru Immediate Annuity

Compare Aviva Annuity Plus and ICICI Pru Immediate Annuity on basis of policy details, premium details, eligibility etc. Aviva Annuity Plus is provided by Aviva India. ICICI Pru Immediate Annuity is provided by ICICI Prudential Life insurance. Both these policies come under Annuity Plans. Online buying option is available for first insurance policy and online buying option is not available for second policy.

Minimum entry age for Aviva Annuity Plus is 50 years and maximum entry age for the same policy is 80 years. Similarly for ICICI Pru Immediate Annuity Plan, minimum entry age is 45 years and maximum entry age is 100 years. Depending upon the selected plan, the premium amount and payment options may be different. Premium is the amount you pay to the insurance company in exchange of life cover. Premium payment option/s for former policy: Single Pay and premium payment option/s for latter policy: Single Pay. In regular pay mode, you are supposed to pay this money at fixed intervals throughout the policy term whereas for limited pay mode, you are supposed to pay money only for a limited number of years.

Benefits of Aviva Annuity Plus and ICICI Pru Immediate Annuity

Benefits of Aviva Annuity Plus and ICICI Pru Immediate Annuity consist of maturity benefit, tax benefit, death benefit etc. Some Aviva Annuity Plus and ICICI Pru Immediate Annuity Plan Provisions are made for a policy holder. Loan is one such provision. For first plan, a person cannot apply for loan and second plan provides loan facility. Following are the benefits under these insurance policies.

For Aviva Annuity Plus:

  • Tax benefit: Not Available.
  • Maturity benefit: Not Available.
  • Death benefit: Not Available.

For Aviva Annuity Plus:

  • Tax benefit: Not Available.
  • Maturity benefit: Not Available.
  • Death benefit: Available.

If the policy has tax benefit, it means that the premium you pay for the policy is eligible for deduction in tax returns along with a part of money you receive on maturity of the policy. If the policy has death benefit, in event of death of the policy holder, all the money paid as premium shall be returned to his family. Even bonus is added to this money for some policies. Thus his family can stay financially secure. Maturity benefit is the money you get at the end of the policy term. This is the total of all the premiums you have paid along with applicable bonus.

Provisions under Aviva Annuity Plus and ICICI Pru Immediate Annuity

Provisions under Aviva Annuity Plus and ICICI Pru Immediate Annuity mainly include policy renewal and different types of riders. For Aviva Annuity Plus, policy renewal is not allowed. Policy renewal is not allowed for ICICI Pru Immediate Annuity Plan. Different riders such as accidental death benefit rider, critical illness rider etc. are provided for an insurance policy. Riders are special clauses in an insurance policy that cover cases when you won't be able to pay premium. Accidental death benefit rider is not available for first policy and it is not available for second policy.Critical illness rider is not available for former policy and it is not available for second policy.Term rider is not available for first insurance policy and this rider is not available for second policy.

Terms and Conditions For Aviva Annuity Plus and ICICI Pru Immediate Annuity

Terms and conditions for Aviva Annuity Plus and ICICI Pru Immediate Annuity includes the grace period, free look period, exclusions, riders etc. for both the policies. Grace period can be utilized for paying unpaid premiums. Grace period for these insurance plans is Not Available. Free look period for these insurance plans is 15 Days.

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