Which insurance co. is giving the best annuity rates under the option annuity for life with purchase price returned on death of annuitant?

Dear Sirs,

I want to invest in immediate annuity scheme for Rs. 280000, under the option annuity for life with purchase price returned on death of annuitant. I am 56 years old.
Which insurance co. is giving the best annuity rates under this option?

Thanks,
D. Chowkhani

Via email @D. Chowkhani

As far as I know you have two options - one from LIC and another one from HDFC Life. On a very high level HDFC Life rates are better than LIC.

You have three options -
1- LIC's Jeevan Akshay VI
2- HDFC Life's Immediate Annuity Plan
3- ICICI Pru Life's Immediate Annuity

Quote:

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Originally Posted by Manish_Kumar

You have three options -
1- LIC's Jeevan Akshay VI
2- HDFC Life's Immediate Annuity Plan
3- ICICI Pru Life's Immediate Annuity

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The ICICI Immediate Annuity is an old plan and not available now. Instead you can choose - "SBI Life Annuity Plus".

To my surprise none of the price comparison websites are comparing annuity rates. You have to manualy go to each insurance website and do reasearch on your own.