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Cases of payout in death scenario
i) Joint Life Annuity-
Payout: On the death of the primary annuitant, secondary annuitant will receive Annuity payout throughout life.
On death of the last survivor, the Annuity payments will cease and no further amount will be payable.
Documents Required:
- Death Certificate of primary annuitant issued by Municipal Authority/ Gram Panchayat / Tehsildar (attested by issuing authority)
- Life certificate of secondary annuitant along with PAN Card and KYC documents (self attested copies)
- NEFT supporting documents ( personalized cancelled cheque with printed name or previous 3 months bank statement or passbook copy or bank declaration on bank letterhead)
Note: The details can be submitted to nearest branch or mail on: [email protected] / [email protected] (Only for NRI Customer) from your registered email address
ii) Single Life Annuity Option
a) Life Annuity:
On the death of the annuitant, the Annuity payments will cease and no further amount will be payable.
Death certificate of annuitant can be submitted to nearest branch or mail on: [email protected] / [email protected] (Only for NRI Customer) from your registered email address
b) Life Annuity with Return of Purchase Price:
On the death of the annuitant, the Annuity payments will cease and we will pay to the annuitant’s nominee the 100% of the purchase price.
Documents Required-
- Death Certificate of the annuitant issued by Municipal Authority/ Gram Panchayat / Tehsildar (attested by issuing authority)
- Cause of death
- Nominee PAN card and KYC (self attested copies), NEFT supporting Documents ( personalized cancelled cheque with printed name or previous 3 month bank statement or passbook copy or Bank declaration on bank letterhead, Passport Size photo ).
Note- The details can be submitted to nearest branch or mail on: [email protected] / [email protected] (Only for NRI Customer) from your registered email address
c) Life Annuity with a Guarantee Period
On the death of the annuitant during Annuity payout guarantee period, beneficiary will receive Annuity payout throughout the rest of the guarantee period and Annuity payout will cease thereafter.
Documents Required:
- Death Certificate of the annuitant issued by Municipal Authority/ Gram Panchayat / Tehsildar (attested by issuing authority)
- Beneficiary’s PAN Card and KYC documents (self attested copies)
- Beneficiary’s NEFT supporting documents ( personalized cancelled cheque with printed name or previous 3 months bank statement or passbook copy or bank declaration on bank letterhead)
Note: The details can be submitted to nearest branch or mail on: [email protected] / [email protected] (Only for NRI Customer) from your registered email address
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