Buy Annuity Best Plan Suitable to You for Regular Income after Retirement

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Annuity Plan

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Are you a salaried person? Look for the benefits or yourself after retirement. Are you looking for the best investment plan? An annuity is the best suitable plan for you.

An annuity is a regular income after retirement. It is a contract between the policyholder and the insurance company, where the policyholder needs to make a lump sum payment or has to pay in installment to seek the benefit of regular income as an annuity after retirement.

In India, after retirement person can choose a pension plan which occurs in the form of an annuity. An annuity is a mode of investment where a person gets a fixed and regular income after retirement.

To know more in-depth about the Annuity Plans here are some special types which you can check for your future:

Annuity with ROP on Death:

ROP stands for (Refund of Premium) which is an annuity option and it gives an annuity pay-out to the annuitant throughout his life. The amount which is paid to buy the annuity is returned to the nominee of a deceased person.

Joint Life Annuity

A Joint Life Annuity is an annuity option that covers the annuity taker and his/her spouse. The annuity amount is paid till at least one of the insured is alive.

Increasing Pay Annuity

In this annuity plan, the payout increases at a fixed rate on annual basis. The annuity holder gets a predetermined additional amount in the plan. Those whose expenses are high, and those who want to avoid any kind of financial trouble due to their expenses, such people can enroll in this annuity.

Annuity for life

It is a simple form of annuity where predetermined and regular payments are made to the annuity holder for the rest of his life. The payments can be monthly, quarterly, or annually depending on the needs of the annuity holder. The annuity income stops only on the death of the annuity holder.

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