Annuities offer a monthly return of income after paying premium as a lump sum or for a certain number of years according to the policy terms. In addition, the policy can pay a lump sum amount and a regular monthly income thereafter to the beneficiary, on the death of the insured.
- The plan is suitable for retirement, as there will be a monthly income assured, when the insured is not working.
- This plan is suitable for families where only one member of the family is working. The plan enables the non -working spouse to manage the loss of regular income of the insured.The plan fulfills loans and debts that are to be paid off and/or one-time large expenses like marriage or children's higher education.
- The term of the plan is set according to the premium paid and the payout terms. The policy provides dual benefits of insurance and monthly income throughout the policy term.
Some Annuity Plans
- Jeevan Akshay- 6: Life Insurance Corporation
- SBI Life Immediate Annuity Plan
- HDFC Life New Immediate Annuity Plan
- Reliance Immediate Annuity Plan
- ICICI Pru Immediate Annuity
- Fidelity Personal Retirement Annuity
- Metlife Accumulation Annuities
- Deferred Fixed Annuities
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