Bajaj Allianz Pension Guarantee, the immediate annuity
plan offered by Bajaj Allianz Life Insurance, has 37 as the minimum entry age.
We all know the primary reason for an agent to suggest this approach is that the commission for selling a deferred annuity is much higher than for an immediate annuity
If the annuity has been purchased with after-tax money an immediate annuity
pays back both principal and tax-deferred earnings, with a portion of each payment considered to be income and a portion considered to be tax-free return of principal.
Buyers relinquish their rights to a lump sum when they purchase an immediate annuity
in exchange for guaranteed income payments from the insurance company.
Rituraj Bhattacharya, head, product development, Bajaj Allianz Life Insurance, says, " The new pension product guidelines have made it mandatory for companies to bridge the gap between deferred and immediate annuity
plans wherein the insured will have to compulsorily buy immediate annuity
from the same insurer on attaining the vesting age.
As expected, the price of an immediate annuity
While the insurance company assumes the risks associated with a gift annuity program via the immediate annuity
, the obligation to pay the donor remains that of the school.
deferred: An immediate annuity
provides payment of benefits immediately on funding.
Let's say that she has $750,000 in assets and her financial advisor recommends that put $75,000 in an immediate annuity
LIMRA Study Sheds Light on Immediate Annuity
TM] is a service through which financial advisors can obtain comparative pricing and data about fixed deferred and immediate annuity
products from across the industry.
Kotak Mahindra Old Mutual Life Insurance (Kotak Life Insurance) has launched Kotak e-Lifetime Income Plan, an immediate annuity