It is an Immediate Annuity plan from LIC's , which can be purchased by paying a lump sum amount. The plan provides for annuity (pension) payments of a declared amount throughout the life time of the annuitant. The type and mode of payment of annuities comes in various options. LIC will pay the annuitant a uniform payment at regular intervals starting immediately after the annuitant pays a lumpsum premium towards the price of the policy. One can choose to receive the payments monthly, quarterly, half-yearly or yearly.
Showing posts with label Annuity. Show all posts
Showing posts with label Annuity. Show all posts
Wednesday, October 20, 2010
Start getting pension from tomorrow with LIC Jeevan Akshay VI Immediate Annuity Plan (Table No. 189)
Friday, May 21, 2010
All about Life Insurance Annuity Plans
Retirement is a delicate time. You dont need to bother about making money, yet you want to have enough for a comfortable life ahead. In the absence of a pension, or an insufficient pension, your need is a financial instrument that gives you the income you seek. Month after month. Year after year. And for the rest of your life.
Annuity is a scheme in which after paying a Lumpsum amount the person gets guaranteed fixed monthly / quarterly / half yearly /yearly throughout the life. They have very important role as it is being used by most of the organization for paying Pensions.
These structured financial instruments are called annuities. But they are still a work-in-progress, both with those who need it and those who offer it. In the absence of an organised pension framework for non-government employees, the retirement planning is scattered across many investment options, rather than being consolidated, which would make buying annuities a natural progression.
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