Its a Universal life insurance Policy.
A period certain annuity guarantees payments for a specific period, such as 10 or 20 years, regardless of the annuitant's lifespan. A life annuity provides payments for the lifetime of the annuitant, ensuring income for as long as they live but ceasing upon their death.
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.
Yes an annuity is a life insurance product. Its kind of like the opposite of life insurance.
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.
Refund 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.
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 joint and survivor settlemet option
It is called a life annuity.
A lifetime annuity is a financial product that provides a stream of income payments to an individual for the rest of their life. It is typically purchased with a lump sum amount, and the amount of the payments is determined by factors such as the individual's age, gender, and life expectancy. Lifetime annuities offer a way to secure a guaranteed income for retirement or to provide financial security in old age.
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.