Immediate Annuity

This is a type of annuity policy taken by an insured that provides regular streams of future income. The annuity plan allows individuals to use lump sum deposit to buy annuity.

Annuity payment commences immediately in exchange for purchase money

KEY FEATURES

Income is payable for life
Annuity payment guaranteed for 0yrs, 5yrs or 10 years and thereafter for life
Regular payment is by standing order and on an online, real times basis
Retirees no longer worry about out-living their income
Annuity Escalating options at 0% and 5%

Benefits

Additional death benefit which is 5 times the annual annuity (Optional)
Longevity risk
Provision of income for dependant
Investment risk is passed to the life office
Tax incentives

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