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Thursday, 21 April 2016

Immediate Annuity Plan Can Help You Retire Rich!!!!!


Being financially independence is a dream for most individuals.To lead a comfortable life post retirement is on everyone’s wish list. A smart way to ensure a regular income flow even after retirement is by opting for an immediate annuity plan. The amount you withdraw is tax deferred. One such immediate annuity plan that provides more benefits and options is EdelweissTokio Life – Immediate Annuity Plan
It provides various annuity options like;
1.) Life Annuity with Return of Purchase Price (ROP):
a.) Survival Benefit: Annuitant receives annuity payout at a constant rate throughout the lifetime 
b.) Death Benefit: Purchase Price will be payable to the nominee/legal heir
2.) Life Annuity:
a.) Survival Benefit: Annuitant receives annuity payout at a constant rate throughout the lifetime.
b.) Death Benefit: Nil
3.) Life Annuity Certain for 5 Years:
a.) Survival Benefit: Annuitant receives annuity payout at a constant rate for first 5 years from the policy commencement date and for life thereafter, if the person survives for more than the certain period of 5 years
 b.) Death Benefit:
i.) During the first 5 years: On death during the annuity certain period of first 5 years from the policy commencement date, annuity is payable till the end of the 5th year from the policy commencement date to the nominee/legal heir.
ii.) After the first 5 years: If death happens after the end of 5th year from the policy commencement date, no death benefit is payable.
 4. Life Annuity Certain for 10 Years:
a.) Survival Benefit: Annuitant receives annuity payout at a constant rate for first 10 years from the policy commencement date and for life thereafter, If the person survives for more than the certain period of 10 years
b.) Death Benefit:
 i.) During the first 10 years: On death during the annuity certain period of 10 years from the policy commencement date, annuity is payable till the end of the 10th year from the policy commencement date to the nominee/legal heir.
ii.) After the first 10 years: If death happens after the end of 10th year from the policy commencement date, no death benefit is payable.
5.) Life Annuity Certain for 15 Years:
a.) Survival Benefit: Annuitant receives annuity payout at a constant rate for first 15 years from the policy commencement date and for life thereafter, If the person survives for more than the certain period of 15 years
b.) Death Benefit:
i.) During the first 15 years: On death during the annuity certain period of 15 years from the policy commencement date, annuity is payable till the end of the 15th year from the policy commencement date to the nominee/legal heir.
ii.) After the first 15 years: If death happens after the end of 15th year from the policy commencement date, no death benefit is payable.
6.) Life Annuity Certain for 20 Years:
a.) Survival Benefit: Annuitant receives annuity payout at a constant rate for first 20 years from the policy commencement date and for life thereafter, If the person survives for more than the certain period of 20 years b.Death Benefit:
i.) During the first 20 years: On death during the annuity certain period of 20 years from the policy commencement date, annuity is payable till the end of the 20th year from the policy commencement date to the nominee/legal heir.
ii.) After the first 20 years: If death happens after the end of 20th year from the policy commencement date, no death benefit is payable.
7.) Life Annuity Increasing at a Simple Rate of 3.0% per Annum:
 a.) Survival Benefit: Annuitant receives annuity payout for lifetime increasing at a simple rate of 3.0% per annum throughout the lifetime.
 b.) Death Benefit: Nil 9. Joint Life, Last Survivor:
i.) Primary and Secondary Annuitant, both are alive: 100% of annuity payout at a constant rate
ii.) Primary Annuitant is alive and Secondary Annuitant is dead: 100% of annuity payout at a constant rate
iii.) Primary Annuitant is dead and Secondary Annuitant is alive: 100% of annuity payout at a constant rate
iv.) Primary Annuitant and Secondary Annuitant are dead: Nil
10.) Joint Life, Last Survivor with 50% annuity
i.) Primary and Secondary Annuitant, both are alive: 100% of annuity payout at a constant rate
ii.) Primary Annuitant is alive and Secondary Annuitant is dead: 100% of annuity payout at a constant rate
iii.) Primary Annuitant is dead and Secondary Annuitant is alive: 50% of annuity payout at a constant rate
iv. Primary Annuitant and Secondary Annuitant are dead: Nil 11.
11.) Joint Life, Last Survivor with Return of Purchase Price on Last Death:
a.) Survival Benefit: 100% of annuity payout at a constant rate till the lifetime of the last survivor
b.) Death Benefit: Purchase price will be payable to the nominee/legal heir on the death of last survivor
Also additional benefit is provided for higher purchase price. With so many benefits, features and option Edelweiss Tokio Life – Immediate Annuity Plan sounds lucrative and it also fulfills your financial needs after retirement so that you can live in peace and fulfill your dreams because your income flows even after retirement. Retire rich with an immediate annuity plan!

Note: This article has been sponsored by the respective Business House.

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