Tag Archive for guaranteed

Tata AIA Life Insurance launches ‘Tata AIA Life Insurance Smart Annuity Plan’ offering lifetime guaranteed income1


By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Tata AIA Life Insurance Co. Ltd., one of the fastest growing private life insurance companies in the country, announced the launch of Tata AIA Life Insurance Smart Annuity Plan, a Single Premium, Non-Linked Non-Participating Annuity plan that offers guaranteed1 lifetime income to help manage expenses post retirement, thereby enabling financial independence during that life phase.

The plan removes investment risk and the risk of outliving one’s savings for annuitant, in their retirement years by providing a guaranteed1 income (also called annuity) for as long as they live. The plan has three, flexible annuity options to meet a retiring individual’s needs – Immediate Life Annuity, Immediate Life Annuity with Return of Purchase Price, and Deferred Life Annuity with Return of Purchase Price.

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HDFC Life launches HDFC Life Pension Guaranteed plan


By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

HDFC Life, one of India’s leading life insurance companies, today announced the launch of HDFC Life Pension Guaranteed Plan, a single premium annuity product. This product is the only-one-of-its-kind which offers guaranteed deferred annuity rates for a life-time, right at the time of purchase.

When individuals think of long-term financial planning, they often neglect the most crucial aspect, that of retirement planning. It is only when one gets closer to their fifties or crosses their fifties that he/ she starts thinking about retirement. With improvement in healthcare facilities, the quality of life has gone up and so has the longevity. In this scenario, it is necessary to ensure that one is able to live a comfortable life after retirement.

In the absence of social security, annuity plans are the safest and most preferred means of regular income for retired individuals. In case of Immediate Annuity plans prevalent today, one starts receiving regular payments right after purchasing the product. This is suitable for individuals who are closer to retirement age or have retired. Deferred annuity options prevalent today, are usually opted for by those who want to plan in advance for their retirement. In case of Deferred Annuity, the rate is as per the prevailing rates during the time the annuity starts.

In the current scenario of market volatility and decreasing interest rates, it is difficult to predict what the annuity rates will be, let us say, 10 years from today.

HDFC Pension Guaranteed Plan offers the unique benefit of guaranteed annuity rates for a deferred annuity plan, at the time of purchase itself. The plan rewards those who plan in advance for the long-term by offering higher annuity rates. One can purchase the plan and choose to receive the annuity, say 10 years later. However, the rate of the annuity to be given 10 years later will be fixed right at the time when the policy is purchased, i.e. today. This comes with the return of purchase price to ensure that one can leave a corpus behind for their loved ones. Read more