Sanghavi Insurance

Annuity Insurance – A cushion to your financial loss

There are two types of annuities, Individual and Joint Life.

Individual annuities are selected by companies to plan the tax liabilities for their key members like CEO, Presidents, VP’s, Directors, Partners, etc.

Ones the annuity starts a fixed income is received by the policy holder throughout his/her life.

In case of Joint life, both the spouse enjoy pension throughout their life.

Certain annuity products are also designed for handicapped and specially abled people.

SILENT FEATURES

There are four different type of annuity plans:
1. Immediate Annuity
2. Deferred Annuity
3. Individual Annuity
4. Joint Life Annuity
Single Premium and Regular Premium Plans are there

Sanghavi’s Recommendation:

One should start investing in annuity from the day one starts earning.
Retirement is the most crucial part of one’s life and in fact most people neglect this part in term of planning.
How to plan or calculate how much fund is required to fund the retirement period of 30 years must be planned and calculated with help of financial planners.
Lady should have annuity in her name so that she has financial freedom in most important stage of her life.

Annuities Insurance

Title	Description
Details	Annuities can be used as pension during your old age. These policies are most suited for senior citizens and those planning a secure future, so that you never give up on the best things in life.
Death Benefit	On unexpected demise of the policy holder, his/her nominee will receive benefit from the Insurance Company depending on the policy.
Survival Benefit	Policy holder gets benefit from a pre-defined time, and it continues till policy holder survives.

Features and Conditions

Minimum & Maximum age at Entry: Varies from company to company.

Minimum & Maximum Term: Varies from company to company.

Minimum & Maximum Sum Assured: Varies from company to company.

Tax Benefits

Tax Benefits for Individuals: As per Government & Regulatory body’s Guidelines. Benefits under 80 C.

Tax Benefits for Corporates: As per Government & Regulatory body’s Guidelines. Benefits under 80 C.

Treated as Expenses by the Company.

Example: Case 1: Individual annuity plan; Case 2: Joint life annuity plan.

Investment

Corpus

Investment

Death of Spouse

Corpus.

BENEFITS
Investment (Single Premium) is paid at the start of the policy and policyholder receives benefits from the pre-defined time till s/he survives, then the corpus is given to the nominee in case of demise of policyholder (corpus and benefits depends on the type of policy chosen).

BENEFITS
Investment (Single Premium) is paid at the start of the policy and policyholder receives benefits from the pre-defined time till s/he survives, on the demise of one spouse the Pension benefit is given to the other spouse till his/her whole life (corpus and benefits depends on the type of policy chosen).