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 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:
For Aviva Annuity Plus:
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 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 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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