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life insurance

ANNUITY OR PENSION PLANS

An Annuity or pension plan is an insurance instrument that can be utilized to receive income post-retirement. A pension plan is the best instrument to plan the golden years of life.

No- claim discounts are available on renewal of policy,
ranging from 20% to 50%

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Two types of annuities or pension plans

  • Immediate Annuity
    In case of immediate Annuity, the Annuity payment from the Insurance Company starts immediately. Purchase price (premium) for immediate Annuity is to be paid in Iumpsum in one installment only.


  • Deferred Annuity
    Under deferred Annuity policy, the person pays regular contributions to the Insurance Company, till the vesting age/vesting date. He has the option to pay as single premium also. The fund will accumulate with interest and fund will be available on the vesting date. The insurance company will take care of the investment of funds and the policyholder has the option to encash 1/3rd of this corpus fund on the vesting age / vesting date tax free. The balance amount of 2/3rd of the fund will be utilized for purchase of Annuity (pension) to the Annuitant.