Benefits
Eligibility
Age of the Annuitant(s) at Entry (age as on last birthday)*
Age of the Annuitant(s) at Entry (age as on last birthday)*| Parameters | Minimum* | Maximum* |
| Immediate Annuity | 45 years | For option 6 and 7: 65 years For all other options: 90 years |
| Deferred Annuity | 45 years | 75 years |
*In case of Joint life annuities the age limits apply to both lives.
Please Note: A minimum entry age of 0 years, for all Annuity Options except Annuity Option 6, and maximum entry age of 100 years, only for Annuity Option 5, will be allowed provided the proceeds are arising out of
- NPS corpus
- ABSLI Pension product
- Pension product from any other Insurer
- Superannuation schemes or other schemes, where compulsory purchase of an annuity is required
- Deferment Period means the period from Date of Commencement of Risk till the policy anniversary preceding the date on which the first Annuity payment is made to the Annuitant as per Deferred Annuity option.
- Deferment Period is applicable only for Deferred Annuity variants and not for Immediate Annuity variants. Deferment Period cannot be changed during the term of the policy.
| Years | Minimum | Maximum |
| Deferment period | 1 year | 15 years subject to Maximum vesting age |
| Vesting age | 46 years | 90 years |
Example: If the Annuity is purchased on 24th March 2021, then, in case of Deferment period of 10 years and monthly frequency of payment, the first pay-out will be made on 24th April 2031. In case of annual frequency of pay-out, the first pay-out will be made on 24th March 2032.
The minimum vesting age in case of policies sourced under QROPS is 55 years, as per prevailing (Her Majesty’s Revenue & Customs (HMRC) regulations)
The annuity payout frequencies available are : Yearly, Half- Yearly, Quarterly, Monthly.
The annuity will be payable in arrears at the end of chosen annuity payment frequency from the date of purchase of the plan. Annuity instalments shall be as specified below.
| Frequency of Annuity | Annuity Amount Payable |
| Yearly | Annual Annuity |
| Half yearly | 98%* Annual Annuuity/2 |
| Quarterly | 97%* Annual Annuuity/4 |
| Monthly | 96%* Annual Annuuity/12 |
Note - For Government sector subscribers under National Pension System (NPS), monthly frequency is mandatory.The same is subject to change and will be as per the extant PFRDA regulations
Rs. 1,000 per month, Rs. 3,000 per quarter, Rs. 6,000 Per half year and Rs. 12,000 per year.
No Limit (subject to Board Approved Underwriting Policy)