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What is a period certain annuity and a life annuity?
A period certain annuity is an annuity that pays out an income stream for a set period of time. A life annuity pays an income out for the lifetime of the annuitant (the person whose life the annuity is based on).
What is a lifetime annuity?
A lifetime annuity is an annuity that is purchased with a payout period that will, in most cases, give a predictable payment each month for the lifetime of the annuitant (the individual whose life the annuity is on).
An annuity with an infinite life is called a?
Perpetuity
What is the difference between a pension and an annuity?
First of all, let's understand what the pension and annuity are. The pension is a consistent monthly income provided by Federal Govt. only to their employees after they retire. Usually, this income is half of the last salary received and is provided to an employee throughout their life. While an annuity is an investment where anyone can invest an amount of savings and receive a consistent monthly income throughout their retirement life. The major advantage of annuity over a pension is that pension isn't provided to each and every citizen while annuity is available for everyone. Moreover, the amount to be received isn't fixed by the Govt, but by the plan a customer chooses. if you are willing to know more about annuity insurance plans, you can visit our site: optinsure.com for the same.
What is life contingency?
When a person buys an annuity, a life contingency allows the beneficiary to receive a payout if the person dies while they are still paying into the plan.
What is a period certain annuity and a life annuity?
A period certain annuity is an annuity that pays out an income stream for a set period of time. A life annuity pays an income out for the lifetime of the annuitant (the person whose life the annuity is based on).
What Annuity is best if you are dying and you want to guarantee payments to spouse for 20 years?
annuity payments can be structured for 20 years certain or other term/period certain payouts. Other optional annuity forms of payouts are also available from insurance companies underwriting annuity contracts such as life and joint/survivor payout options.
What is the meaning of annuity guaranteed for 5 years and for life thereafter?
Currently the following options are available under LIC's immediate annuities:1. Annuity for life: The annuity is paid to the life assured as long as he/she is alive.2. Annuity Guaranteed for certain periods: The annuity is paid to the life assured for periods of 5 or 10 or 15 or 20 years as chosen by him/her, whether or not he/she survivesthat period. After the chosen period, the annuity is paid to the life assured as long as he/she is alive.3. Annuity with return of purchase price on death: The annuity is paid to the life assured as long as he/she is alive. On the death of the life assured, the purchase price of the annuity is paid as death benefit. The purchase price includes the Sum Assured under the Basic Plan, the accrued Guaranteed Additions and any accrued bonuses, excluding the commuted value, if any.
Does a flexible universal life insurance policy expire at a certain age?
A flexible UL policy CAN expire unless you add more premiums to keep it in force.
Is there a difference between a life annuity and an insurance annuity?
There isn't a real difference between life annuity and an insurance annuity. Both are a form of life insurance and deal with the same issues. I would go with either one.
Is an annuity a type of life insurance?
Yes an annuity is a life insurance product. Its kind of like the opposite of life insurance.
What is variable annuity life?
Annuity Life is a contract of insurance between you the buyer and the seller. Variable Annuity Life is a company that covers retirement groups for schools, colleges and Health care.
Where can I find information on a single life annuity?
If you are living alone, a single life annuity would be the best. However, if you have a family or a wife/husband, you may want to consider multiple life annuity.
Where can one get life time annuity rates?
One can get life time annuity rates from his bank. They must simply speak to their financial adviser who will assist them with getting life time annuity rates.
What is the annuity type called that guarantees to pay out an income equal to the purchase price of the annuity?
Refund Life Annuity
What is the difference between a lump sum and annuity?
The difference between a lump sum and annuity is, lump some you get a anywhere between half or 3 quarters of the money. An annuity is where you will get a certain amount of money for a certain amount of years.
Can you draw annuity?
I assume you mean draw on annuity early. Depends on the type annuity. If deposit type ...yes. If deferred payout annuity...no, (like a pension) not until you reach a certain age.
