An immediate or deferred annuity converts a lump sum into a guaranteed income for life. LIC's Jeevan Akshay and New Jeevan Shanti are the best known options, with annuity rates locked in at purchase.
Figures shown are indicative as per the insurer's published plan features and may change. Please confirm the current terms with us before purchasing.
Retirees who want a fixed pension credited to their bank account for as long as they live.