. Introduction: • This is a single premium plan wherein the Policyholder has an option to choose between Single life and Joint life Deferred annuity. • The annuity rates are guaranteed at the inception of the policy and annuities are payable post deferment period throughout the life time of Annuitant(s). • This plan can be purchased offline as well as online. To purchase the plan online, please log on to our website www.licindia.in 2. Annuity Options: The options available are: Option 1: Deferred annuity for Single life Option 2: Deferred annuity for Joint life Annuity option once chosen cannot be altered. 3. Benefits: Benefits payable are: Option Benefits Option 1 During Deferment Period: • On survival of the Annuitant, nothing shall be payable. • On death of the Annuitant, Death Benefit as defined below shall be payable to nominee(s). After Deferment Period: • The annuity payments, as per the chosen mode, shall be made in arrears for as long as the Annuitant is alive. • On death of the Annuitant, the annuity payments shall cease immediately and Death Benefit as defined below shall be payable to nominee(s). 2 Option 2 During Deferment Period: • On the survival of the Primary Annuitant and/or Secondary Annuitant, nothing shall be payable. • On death of the last survivor, Death Benefit as defined below shall be payable to nominee(s). After Deferment Period: • The annuity payments, as per the chosen mode, shall be made in arrears for as long as the Primary Annuitant and/or Secondary Annuitant is alive. • On death of the last survivor, the annuity payments shall cease immediately and Death Benefit as defined below shall be payable to nominee(s). Death Benefit: Death Benefit under both of the Options shall be: Higher of o Purchase Price plus Accrued Additional Benefit on Death (as specified below) minus Total annuity amount payable till date of death, if any OR o 105% of Purchase Price Accrued Additional Benefit on Death: Additional Benefit on Death shall accrue at the end of each policy month, till the end of Deferment Period only. The rate of Additional Benefit on Death during the deferment Period shall be as under: Additional Benefit on Death per month= (Purchase Price *Annuity rate p.a. payable monthly) / 12 Where, Annuity rate p.a. payable monthly shall be equal to annuity rate per unit Purchase Price applicable for monthly mode without applying any incentive and shall depend on the Option chosen, Age at entry of the annuitant(s) and the Deferment Period opted for. In case of death of the annuitant or surrender of the policy during the deferment period, Additional Benefit on Death for the policy year in which the death/surrender has occurred shall accrue till the completed policy month as on the date of death/surrender. 4. Eligibility Criteria: Minimum Purchase Price* : `1,50,000 subject to minimum Annuity as specified below Maximum Purchase Price : No Limit The abovementioned minimum purchase price would be increased appropriately to meet minimum annuity criterion as specified below. Minimum Age at Entry : 30 years (Last Birthday) 3 Maximum Age at Entry : 79 years (Last Birthday) Minimum Vesting Age : 31 years (Last Birthday) Maximum Vesting Age : 80 years (Last Birthday) Minimum Deferment Period : 1 year Maximum Deferment Period : 12 years subject to Maximum Vesting Age Minimum Annuity: Annuity Mode Monthly Quarterly Half-yearly Annual Minimum Annuity `1000 per month `3000 per quarter `6000 per half-year `12000 per annum Joint Life: The joint life annuity can be taken between any two lineal descendant/ascendant of a family (i.e. Grandparent, Parent, Children, Grandchildren) or spouse or siblings. * Exceptional cases where minimum annui

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