How soon can I start receiving annuity payments once the policy has started?
It all depends on the frequency of annuity payment you choose. Pension Guarantee has four annuity frequency options – monthly, quarterly, half-yearly and yearly. For instance, if you opt for the monthly option, your annuity starts a month after the policy commences.
After my death, would my spouse continue to receive annuity?
It depends on the annuity option you have opted for. If you choose the joint life last survivor option, then your spouse would continue to receive annuity benefits even after your death.
Is it possible to ensure that the principal amount remains intact, and it goes back to the nominee after my death?
Pension Guarantee has the option of returning the purchase price (or the money invested) after the death of the Life Assured. Depending upon the annuity option opted for, on the death of the life assured, the invested amount initially in the policy is paid back to the nominee/legal heir.