It is an Immediate Annuity plan from LIC's , which can be purchased by paying a lump sum amount. The plan provides for annuity (pension) payments of a declared amount throughout the life time of the annuitant. The type and mode of payment of annuities comes in various options.

Type of Annuity:
• Annuity payable for life at a uniform rate.
• Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as the annuitant is alive.
• Annuity for life with return of purchase price on death of the annuitant.
• Annuity payable for life increasing at a simple rate of 3% p.a.
• Annuity for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
• Annuity for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
You may choose any one. Once chosen, the option cannot be altered.

Annuity can be paid monthly, quarterly, half yearly or yearly intervals. Any mode of payment of Annuity can be opted.