Lim­i­ta­tions

Consumer Voice - - Bfsi -

An­nu­ity amount is paid be­tween 5 and 20 years (mostly at five years in­ter­val), as per the an­nu­ity op­tion ex­er­cised by the an­nu­i­tant.

Life an­nu­ity with an­nual in­crease: Life an­nu­ity is paid with three to five per cent in­crease (sim­ple in­ter­est), with re­turn of pur­chase price af­ter death of the an­nu­i­tant to the spouse or the nom­i­nee. Joint life an­nu­ity with one-third, 50 per cent or 100 per cent of the life an­nu­ity is paid along with the re­turn of pur­chase price.

Ad­van­tages

Avail­abil­ity of a prod­uct to de­posit in lump sum and get the same back in EMIs Wide range of op­tions/prod­ucts to choose from Any bonus or a lump-sum wind­fall can be used to take this pol­icy for a life­time Flex­i­ble an­nu­ity pay­ment modes to suit in­di­vid­ual pref­er­ences An­nu­ity pay­ments are guar­an­teed Tax ben­e­fits an added ad­van­tage Avail­abil­ity of rider ben­e­fits

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