Joint Life Annuities: Secure Your Spouse’s Future with Lifetime Income

Retirement Planning is a Team Sport!

Normally, when we think of retirement planning, we think about “my savings” or “my pension”. However, retirement is NOT a journey that is undertaken alone, especially when you are married.

If you are the primary earner in the family, it’s essential to ensure not just your own security, but also your spouse’s. That’s where Joint Life Annuities come in.

What is a Joint Life Annuity?

A Joint Life Annuity is a retirement income option that continues to pay a guaranteed monthly pension not just for your lifetime—but also for your spouse’s. Even in your absence, the income doesn’t stop.

It’s more than just a financial product—it’s a way to protect your partner’s dignity, independence, and lifestyle after you.

Planning for two is key

Imagine that you are retiring at the age of 60, and your spouse is 55. You have both looked forward to this stage – the “living for yourself” stage where you travel, spend time with family, and probably even pursue a hobby that you have been postponing for a long time.

Now comes the twist. While you have planned your entire retirement, life throws an unexpected curve ball, and the primary earner is no longer around. Without financial planning, the surviving spouse would be left without a steady income stream, creating both emotional and financial stress.

How does Return of Premium work with Joint Life?

1. Lifetime Pension for You: When you choose a Joint Life Annuity option, you receive a guaranteed pension for life. 

2. Lifetime Pension for Your Spouse: If something were to happen to you, your spouse continues to receive the pension, ensuring financial independence.

3. Legacy for Your Family: With the Return of Premium option, when both of you are no longer around, the premiums paid are returned to your nominee.

So, it’s a win-win: You are secured for life, and you leave behind a legacy in your absence.

Who benefits the most?

In many families, the non-earning spouse - often a homemaker, has dedicated their entire life to running the household. They may not have a personal retirement corpus or independent income.

A Joint Life Annuity is a powerful way to acknowledge that contribution. It ensures that even if the earning spouse passes away, the homemaker is not left worrying about monthly expenses. Instead, they continue to receive a reliable income for life.

Peace of mind…for life

The biggest gift you can give your spouse is peace of mind. A Joint Life Annuity gives you the comfort that your partner will never be financially dependent in your absence. All household expenses will always be covered; medical bills will not create a burden, and most importantly, financial independence and dignity will be preserved for both.

It’s not about “me” but about “us”

Shift from a regular dinner conversation and give it a serious thought. Retirement is a journey you take together, and your financial plan should reflect that. A Joint Life Annuity with Return of Premium ensures that both you and your spouse are protected and independent, no matter what life brings.

Next Step: Choose the Right Option Under IndusInd Nippon Life Nishchit Pension Plan

Consider Joint Life Annuity with Return of Premim under the IndusInd Nippon Life Nishchit Pension Plan for:

• Joint life coverage
• Return of premium benefits
• Guaranteed monthly income

Click here to understand how this plan fits your retirement vision.

In case of Joint life annuities, the payout continues till either of the lives chosen in the policy is alive. The word Guaranteed means that annuity payout is fixed at the inception of the policy. The Total Premiums Paid is equal to annualized premium multiplied by premium payment term and is exclusive of GST & other statutory levies. Monthly Income is 8.07% of Yearly Annuity. Please check the prevailing annuity rate at the time of purchasing policy. IndusInd Nippon Life Nishchit Pension (UIN: 121N158V03) is A Non-Linked, Non-Participating, Individual, Deferred Annuity Plan. For more details on risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale.

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