Annuities
An annuity is a series of regular payments from an annuity provider (insurance company) to an individual (called the annuitant) in return for a lump sum (purchase price) or instalment premiums for a specified number of years.
According to the manner in which the purchase price is paid, annuities can be either:
An annuity is a series of regular payments from an annuity provider (insurance company) to an individual (called the annuitant) in return for a lump sum (purchase price) or instalment premiums for a specified number of years.
According to the manner in which the purchase price is paid, annuities can be either:
- an immediate annuity; or
- a deferred annuity.
An annuity is the reverse of a life
insurance policy. In life insurance the insurance company takes on the risk,
but with an annuity the annuitant takes on the risk that they won’t die in a
very short space of time after paying the purchase price.
There are a number of different types of annuity available (such as a joint life, last survivor/life annuity with return of purchase price/increasing annuity).
Anand Khemka
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+91-8287041341
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