LIC Jeevan Akshay-VII is an an Immediate Annuity plan wherein the Policyholder has an option to choose type of annuity from 10 available options on payment of a lump sum amount.
ICICI Prudential Life pension plan to offer increasing regular income
By IANS |
Published on
Tue, May 25 2021 15:48 IST |
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Pension. (File Photo: IANS). Image Source: IANS News
Mumbai, May 25 : ICICI Prudential Life Insurance has introduced a retirement solution by combining two variants of its Guaranteed Pension Plan , which offers a guaranteed return on investments.
This solution provides customers with increasing regular income that doubles after five years and triples after the 11th year, thereby shielding subscribers against the rising cost of living.
Amit Palta, Chief Distribution Officer, ICICI Prudential Life Insurance, said, It is imperative that customers plan for their retirement and the solution offered by the Guaranteed Pension Plan enables customers to receive increasing regular income and lead a financially self-sufficient retired life.
16 Things You Need to Know Now About Annuities
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May 3, 2021, 11:00 AM·21 min read
With the retirement playing field littered with crushed investments and dreams, the safety of guaranteed income streams looks more attractive each day. Some annuities can provide such a guarantee.
If you ask an insurance company to define annuities, the marketing phrase the insurer will probably use is: Annuities can produce an income stream you can t outlive. That can be true. Annuity payments can last for as long as you live or even longer because the payments are based on your life expectancy.
On the surface this sounds great, but annuities are among the most commonly misunderstood and misused financial products. If you say the word annuity, what do you mean? There s so many different types, says Stan Haithcock, also known as Stan The Annuity Man. Saying you hate annuities is like saying you hate all restaurants.
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