Advantage Annuity

Paramhans Singh’s first task after retirement was to carefully invest his retiral benefits in a regular income scheme. He wanted secure and guaranteed returns. “I opted for an immediate annuity plan. My monthly expenses are Rs 20,000 and accordingly I invested around Rs 30 lakh. While other investment instruments have the potential for good returns, there is always some risk attached,” he explains. An annuity insurance plan helps in getting a regular life-long income on making a one-time lump sum or regular investments. “Annuity is a life insurance product designed to offer a regular income post-retirement, similar to a pension. Annuities can be purchased through lump sum or a series of premiums,” says Aalok Bhan, Director & Chief Marketing Officer, Max Life. “These plans allow customers to achieve financial independence and help in leading a...