Before you invest in an annuity plan, you must consider the following factors:
• You must understand your post-retirement needs and aspirations. The right annuity plan provides you and your family with a guaranteed1 regular income to fulfil your post-retirement dreams
• You must select the right annuity plan based on when you would need your regular income to start. With an immediate annuity plan, your regular income can start immediately. On the other hand, deferred annuity plans would be apt if you have a few years to retire
• You can also opt for a plan that secures your loved ones by choosing a 'Joint Life' option offered by some annuity plans. With this option, they will continue to receive regular income even in case of an unfortunate event
• Some plans also provide an option to get your investment back in case of a medical emergency or when you reach a certain age or in case of an unfortunate event. Such options can help you secure your financial independence even during financial emergencies
• You must also check out additional benefits offered by the annuity plan. For example, ICICI Pru Guaranteed Pension Plan provides you with 1% additional annuity if you are an existing customer or purchase the plan online*