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Immediate Annuities

With immediate annuity the investment starts giving you returns immediately. People go for this when they need payments immediately or when they don’t mind the capital not growing to its maximum potential.

More about Immediate Annuity

If you need some money immediately for some added expenditures which were not factored in earlier, you can go for an immediate annuity plan. It is also called an income annuity because it acts as a second income for the added expenditures.

This plan is good for people looking for an immediate income flow. It is recommended for short-term plans or if the principal value is high enough to sustain the number of interest iterations required. Let’s check out the types of immediate annuities based on premium and payout plans.

Fixed Immediate Annuity

A fixed amount of annuity that you receive from the beginning to the end of the term. This is simple, with a predetermined amount not subject to market fluctuations.

Variable Immediate Annuity

Immediate payout but the amount varies according to the market potential in real time. Bigger risk for a bigger gain potential.

Inflation-Adjusted Immediate Annuity

This is like variable immediate annuity on training wheels. Your purchasing power and consumer price index are capped so that you can play the field within safe bounds. 

Life Annuity

The payments come throughout the lifetime of the policy holder and ceases with their death. Beneficial if the policy holder has a long life ahead. 

Joint and Survivor Annuity

Provides annuity for two people (usually spouses) and continues as long as either of them are alive. The payment gets divided between the two policy holders.

Period-Certain Immediate Annuity

Starting immediately and continuing for a predetermined period of time even if the policy holder dies during the term. In that case an assigned beneficiary gets the annuity for the rest of the term.

Talk to our financial advisors to figure out which type of immediate annuity is best for you depending on your financial capacity, age, health status, and dependents. Look into:

  • Tax-deferred Growth
  • Estate Tax Solutions
  • High Exclusion Ratio
  • Maximum Benefits

Pros and Cons

Avail tax-deferred growth and longevity risk protection for your immediate annuity plan. But beware of inflation risks. Take calculated decisions with the help of an expert advisor.

Voice of Happy Customers

Thanks to GrowShine for the best immediate annuity policies that helps me and my husband live stress-free after the joint plan we signed up for.


My plan started giving me the returns from the very next cycle and there was no lapse or delay in any of the payouts. I went for a simple fixed option so it was easy figuring out just how much payout I will receive and it helped me fund my own college without emptying all my savings.


The best immediate annuity plans are one that can be transferred to a beneficiary or joint holder in the event of death of the primary holder. Ask your consultants about all the options. I did not know these myself but after talking to the helpful advisors I have such a clear idea. It feels good to know I made an informed decision that I can truly be confident about.


I took the most beneficial immediate annuity plan in the market after scouring through all my options. I recommend my plan to everybody who needs little extra income for a fixed time.


Four different agents helped me figure out what I want from my annuity plan and there was free consultations throughout. They are really helpful. I trust them fully.

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Still Any Queries?

Your immediate annuity plan can give payouts for a lifetime as long as you keep paying the premiums if you choose for a life plan, or for a specific period of time if you choose a period-certain plan.

Fixed immediate annuity is secure and steady but if the term of the plan is long, inflation might reduce the value of the payments significantly. That’s why some people avoid fixed annuity and go for inflation-adjusted options, especially if their plan is long-term.

If you pay a large premium for a life annuity plan there is a risk of losing money in case of sudden death. Adding a beneficiary plan or going for a period-certain plan mitigates this risk. So choose the type of your immediate annuity policy after careful planning.