This document summarizes an insurance savings plan offered by IDBI Federal Lifesurance. The plan allows customers to save small amounts for big dreams through guaranteed additions and bonuses. It provides lump sum payout, flexibility to choose policy terms, financial protection for beneficiaries, and tax benefits. The plan is backed by three strong financial institutions - IDBI Bank, Federal Bank, and Ageas insurance.
Annuity is a term that is familiar to most of us and that we have been now hearing for over 200 years. Annuities are nothing but products offered by insurance companies that allow you to save on taxes and derive benefit on retirement. These accumulated funds are later repaid to you either for a fixed term, say 5 to 10 year, or for the rest part of your life.
Annuities are quite similar to Collateral deposits. CDs are offered by banks, similarly, insurance companies offer different return schemes on your annuity investments.
What is the meaning of annuity?
For a layman, an annuity is nothing but a contract between two parties, a person, also called as the insured and an organization which is nothing but an insurance company. The insurance company agrees to pay the insured an agreed upon benefit either in the form of regular interval payments or in lump sum.
Who offers an Annuity?
Annuities are presented by Insurance companies. They reach customers by the way of licensed agents. But before you chose to invest with the insurance company, you should check their insurance licenses. State and federal laws and insurance commissions govern the reserve funds, also known as State Legal Reserve Pools.
How does an Annuity Scheme work?
Annuity is a contract. The insured makes a deposit with the insurance company either in a single go or through regular small installments. Depending upon the type of annuity you choose, the money deposited with the insurance company will earn fixed or variable return.
Different Types of Annuity:
• Single premium immediate annuity: The amount is paid in lump sum and the benefits are derived from the immediate next month onwards.
• Single premium deferred annuity: Again, the amount is paid in lump sum but the withdrawals can be made only after specified time limit
• Annual premium deferred annuity: The premium paid to the insurance company is either in form of quarterly, or monthly or bi-annual or annual installments. Withdrawals are deferred to a later date.
• Variable annuity: This is more of a combination annuity scheme where you can chose either to pay a lump sum amount or in installments. You can choose the investment vehicle as well. Thus, the growth of your fund depends on vehicle chosen.
Thus, depending upon the scheme chosen by you, the amount deposited by you grows. At a time elected by you, the insurance company will start disbursing your deposits from your annuity account.
You also have a choice of withdrawing funds in lump sum after a certain time elapses.
Benefits associated with Annuities:
• Tax Deferral: The money invested in an annuity scheme stays tax free and grows tax free till the time you withdraw it. The age set for withdrawals is 59.5 years. Any funds withdrawn prior to this age bear an annual penalty charge of 10%.
• The insured gets a secured guaranteed return for the rest of life, especially post retirement
Thus, annuity offers you a medium of saving, ensuring avoiding probate for your heirs, safety of funds and much more.
Annuities: Stabilize and Boost Retirement Income, Bobby M Collins #AnnuityEdu...Bobby M. Collins
What are annuities? Simply put, you agree to pay an insurance company–either in installments or with one lump sum–and in return, they pay you in the future.
Retirement, particularly in North Texas and the Dallas/Fort Worth Metroplex, requires careful consideration.
One option is annuities.
By Bobby M. Collins
Patch: https://patch.com/users/bobby-m-collins
Presentations: https://www.slideshare.net/BobbyMCollins/presentations
Medium: https://medium.com/@bobbymcollins
Collins Site: https://collinsandcate.com/
Pinterest: https://www.pinterest.com/bobbymcollins/
YouTube: https://www.youtube.com/channel/UCKIKRPVgRQJ_T-aWZFFvOmA
Quora: https://www.quora.com/profile/Bobby-M-Collins
presentation on a topic of "Life Insurance Products Available For An Individual"nibedita singh
Here, i have described about life insurance products of " Bajaz Allianz Life Insurance Company Ltd " and " Life Insurance Corporation OF India " which can be availed by all eligible individuals which includes
• I-SECURE INSURANCE PLAN
• MONEY BACK PLAN/CASH ASSURE
• PENSION PLAN
• ENDOWMENT PLAN
Annuity is a term that is familiar to most of us and that we have been now hearing for over 200 years. Annuities are nothing but products offered by insurance companies that allow you to save on taxes and derive benefit on retirement. These accumulated funds are later repaid to you either for a fixed term, say 5 to 10 year, or for the rest part of your life.
Annuities are quite similar to Collateral deposits. CDs are offered by banks, similarly, insurance companies offer different return schemes on your annuity investments.
What is the meaning of annuity?
For a layman, an annuity is nothing but a contract between two parties, a person, also called as the insured and an organization which is nothing but an insurance company. The insurance company agrees to pay the insured an agreed upon benefit either in the form of regular interval payments or in lump sum.
Who offers an Annuity?
Annuities are presented by Insurance companies. They reach customers by the way of licensed agents. But before you chose to invest with the insurance company, you should check their insurance licenses. State and federal laws and insurance commissions govern the reserve funds, also known as State Legal Reserve Pools.
How does an Annuity Scheme work?
Annuity is a contract. The insured makes a deposit with the insurance company either in a single go or through regular small installments. Depending upon the type of annuity you choose, the money deposited with the insurance company will earn fixed or variable return.
Different Types of Annuity:
• Single premium immediate annuity: The amount is paid in lump sum and the benefits are derived from the immediate next month onwards.
• Single premium deferred annuity: Again, the amount is paid in lump sum but the withdrawals can be made only after specified time limit
• Annual premium deferred annuity: The premium paid to the insurance company is either in form of quarterly, or monthly or bi-annual or annual installments. Withdrawals are deferred to a later date.
• Variable annuity: This is more of a combination annuity scheme where you can chose either to pay a lump sum amount or in installments. You can choose the investment vehicle as well. Thus, the growth of your fund depends on vehicle chosen.
Thus, depending upon the scheme chosen by you, the amount deposited by you grows. At a time elected by you, the insurance company will start disbursing your deposits from your annuity account.
You also have a choice of withdrawing funds in lump sum after a certain time elapses.
Benefits associated with Annuities:
• Tax Deferral: The money invested in an annuity scheme stays tax free and grows tax free till the time you withdraw it. The age set for withdrawals is 59.5 years. Any funds withdrawn prior to this age bear an annual penalty charge of 10%.
• The insured gets a secured guaranteed return for the rest of life, especially post retirement
Thus, annuity offers you a medium of saving, ensuring avoiding probate for your heirs, safety of funds and much more.
Annuities: Stabilize and Boost Retirement Income, Bobby M Collins #AnnuityEdu...Bobby M. Collins
What are annuities? Simply put, you agree to pay an insurance company–either in installments or with one lump sum–and in return, they pay you in the future.
Retirement, particularly in North Texas and the Dallas/Fort Worth Metroplex, requires careful consideration.
One option is annuities.
By Bobby M. Collins
Patch: https://patch.com/users/bobby-m-collins
Presentations: https://www.slideshare.net/BobbyMCollins/presentations
Medium: https://medium.com/@bobbymcollins
Collins Site: https://collinsandcate.com/
Pinterest: https://www.pinterest.com/bobbymcollins/
YouTube: https://www.youtube.com/channel/UCKIKRPVgRQJ_T-aWZFFvOmA
Quora: https://www.quora.com/profile/Bobby-M-Collins
presentation on a topic of "Life Insurance Products Available For An Individual"nibedita singh
Here, i have described about life insurance products of " Bajaz Allianz Life Insurance Company Ltd " and " Life Insurance Corporation OF India " which can be availed by all eligible individuals which includes
• I-SECURE INSURANCE PLAN
• MONEY BACK PLAN/CASH ASSURE
• PENSION PLAN
• ENDOWMENT PLAN
Want to understand what products to buy to insure against outliving your money? Want to learn more about how to purchase a DIA? Use this Abaris guide to better understand the options available and whether you should think about buying a DIA.
Deferred income annuities are a useful tool for protecting your retirement savings , against longevity risk. Longevity risk is the risk that you live a lot longer than you expect, therefore outliving your money. So how do DIAs work? Let’s break it down. The deferred part means that after you pay the premium to purchase your annuity there will be a period ranging from a year to several years before you begin receiving income. The income part refers to the promise of an annuity to provide you with a fixed paycheck, received monthly or yearly. Finally, the annuity aspect refers to the insurance company’s promise to continue sending payments for as long as you live.
The deferral period, the time between purchase and payments, must be at least 1-2 years, but is often much longer. A 55 year old who purchases a DIA might defer payments until age 80-85. Why the wait? The longer you defer payments, the longer the insurance company has to invest your money, and the more it will grow, and the more the insurance company is willing to promise you. Additionally, the longer you stave off receiving payments, the more confident the insurance company is that they won’t have to pay you for too long, so the better price you’ll get.
Though the concept behind a deferred income annuity isn’t new, its sales have just begun to takeoff. In 2011, there was only one annuity provider selling a premium volume of about $50 million. By 2014, the premium volume rose to $2.7 billion and the number of providers jumped to 13. Through the Abaris platform, you have access to a number of insurers: MassMutual, AIG, Principal Financial Group, Lincoln Financial Group, Guardian, Symetra, Americo, and Pacific Life. The products offered by these insurers vary, in terms of price, flexibility of premium payment, ability to commute value, and many more aspects. Whatever the differences, though, reputable authorities, including The Wall Street Journal, The New York Times, CNN Money, and Barron’s, have all sung the praises of a DIA, sighting its simplicity, security, and better pricing for you, in terms of premium and payments.
DIAs are a powerful tool, but they’re not necessarily right for everyone. What makes for a good fit? If you’re age 45-65, pre-retirement or in early retirement, in at least average health, don’t need to access the money from the annuity income immediately, have no pension, have basic expenses greater than your Social Security can cover, and want a simpler annuity then chances are you’re a good fit. In addition to these attributes, a good candidate for a DIA can say with surety that they won’t need access to the money spent on the premium, as the product has no cash or redemption value.
All you need to know about money back policy is described smartly. Don't forget, money is the mirror that reflects our personal strength & weakness with amazing clarity, Build it strong...Be smart, have some money backup plan for your life.
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What is an annuity?
An annuity is an insurance-based contract between you, the owner, and the contract issuer.
This is basically how annuities work: You pay after-tax dollars to the issuer, the issuer invests the money for you, and any earnings accumulate tax deferred. At some point, the issuer pays out the principal and earnings to you or to your beneficiaries. Earnings are taxed as ordinary income when they’re distributed.
GUARANTEE YOUR INCOME FOR LIFE - ANNUITY E-BOOKAdewale Fayinka
Life annuity is defined by a series of regular pay-outs made to Annuity holders by Insurance Company, for the entire duration of life after retirement.
Why consider Advantage Plus Whole Life Insurance?Pravesh Vasudeva
Advantage Plus Whole Life Insurance offers you a path towards financial security and overall wellness. To know more about the plan get in touch with our advisors at www.trustlife.ca
Want to understand what products to buy to insure against outliving your money? Want to learn more about how to purchase a DIA? Use this Abaris guide to better understand the options available and whether you should think about buying a DIA.
Deferred income annuities are a useful tool for protecting your retirement savings , against longevity risk. Longevity risk is the risk that you live a lot longer than you expect, therefore outliving your money. So how do DIAs work? Let’s break it down. The deferred part means that after you pay the premium to purchase your annuity there will be a period ranging from a year to several years before you begin receiving income. The income part refers to the promise of an annuity to provide you with a fixed paycheck, received monthly or yearly. Finally, the annuity aspect refers to the insurance company’s promise to continue sending payments for as long as you live.
The deferral period, the time between purchase and payments, must be at least 1-2 years, but is often much longer. A 55 year old who purchases a DIA might defer payments until age 80-85. Why the wait? The longer you defer payments, the longer the insurance company has to invest your money, and the more it will grow, and the more the insurance company is willing to promise you. Additionally, the longer you stave off receiving payments, the more confident the insurance company is that they won’t have to pay you for too long, so the better price you’ll get.
Though the concept behind a deferred income annuity isn’t new, its sales have just begun to takeoff. In 2011, there was only one annuity provider selling a premium volume of about $50 million. By 2014, the premium volume rose to $2.7 billion and the number of providers jumped to 13. Through the Abaris platform, you have access to a number of insurers: MassMutual, AIG, Principal Financial Group, Lincoln Financial Group, Guardian, Symetra, Americo, and Pacific Life. The products offered by these insurers vary, in terms of price, flexibility of premium payment, ability to commute value, and many more aspects. Whatever the differences, though, reputable authorities, including The Wall Street Journal, The New York Times, CNN Money, and Barron’s, have all sung the praises of a DIA, sighting its simplicity, security, and better pricing for you, in terms of premium and payments.
DIAs are a powerful tool, but they’re not necessarily right for everyone. What makes for a good fit? If you’re age 45-65, pre-retirement or in early retirement, in at least average health, don’t need to access the money from the annuity income immediately, have no pension, have basic expenses greater than your Social Security can cover, and want a simpler annuity then chances are you’re a good fit. In addition to these attributes, a good candidate for a DIA can say with surety that they won’t need access to the money spent on the premium, as the product has no cash or redemption value.
All you need to know about money back policy is described smartly. Don't forget, money is the mirror that reflects our personal strength & weakness with amazing clarity, Build it strong...Be smart, have some money backup plan for your life.
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What is an annuity?
An annuity is an insurance-based contract between you, the owner, and the contract issuer.
This is basically how annuities work: You pay after-tax dollars to the issuer, the issuer invests the money for you, and any earnings accumulate tax deferred. At some point, the issuer pays out the principal and earnings to you or to your beneficiaries. Earnings are taxed as ordinary income when they’re distributed.
GUARANTEE YOUR INCOME FOR LIFE - ANNUITY E-BOOKAdewale Fayinka
Life annuity is defined by a series of regular pay-outs made to Annuity holders by Insurance Company, for the entire duration of life after retirement.
Why consider Advantage Plus Whole Life Insurance?Pravesh Vasudeva
Advantage Plus Whole Life Insurance offers you a path towards financial security and overall wellness. To know more about the plan get in touch with our advisors at www.trustlife.ca
Spencer Lodge Fund Advisers Dubai Life Insurance. Spencer Lodge MD of Fund Advisers Dubai Universal life insurance offers you the freedom to increase or decrease your policy’s death benefit to fit your individual needs. Policies have minimum and maximum premium amounts that you must meet to maintain your coverage, but the timing of payments can be flexible. Access to cash values Universal life insurance policies have a cash value that has the potential to increase over time. If financial needs arise, you can tap into your policy by taking tax-advantaged policy loans and making partial withdrawals without income taxes.
Max Life Whole Life Super, a life insurance plan in which you
pay premiums for only a limited number of years and enjoy protection up to the age 100 years.
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Click2Wealth is a high return ULIP plan by HDFC Life which offers premium waiver benefit, tax benefits and whole life coverage with golden years benefit option. Buy Now!
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Bajaj Allianz life insurance is a collaboration of two companies namely Bajaj auto which is an Indian company with Allianz AG which has headquarter in Germany. Bajaj life insurance offers numerous policies each having different yet overall benefits for the individuals according to their needs.Allianz life insurance apart from taking care of future investment options for the individual and his family provides for traditional insurance policies Bajaj Allianz life insurance policy is a level term cover up policy which provides maximum health and family safety of the assured.
Life Insurance is a form of risk management primarily used to transfer the risk of uncertain loss.
It provides compensation for financial loss only not profit.
Life insurance is a protection against the RISK of financial loss that would result from the premature death of an insured. The named beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured. The death benefit is paid by a life insurer in consideration of premium payments made by the insured.
1. Many of us give priority to our immediate needs over saving for the future. As a result, we wait for
the right time to start saving for our dreams and goals. IDBI Federal Lifesurance Savings Insurance
Plan lets you save small today, for your big dreams.
Save small. Dream big.
A long term savings plan with
guaranteed additions, bonuses
and insurance protection*
In the first 5 years of the policy, you get guaranteed
additions at the rate of `50 per `1,000 of maturity sum
insured.
2Guaranteed additions
to safeguard your savings
At maturity, you get the maturity sum insured plus
guaranteed additions plus bonuses.
1Lump sum payout
at maturity
With Lifesurance, you have the option of choosing the
right combination of policy term and premium payment
term, as per your needs and goals.
4Flexibility to plan
for your needs
From the 6th year onwards, you get reversionary bonus
plus interim bonus and terminal bonus (if any) .
3Bonuses to boost
your savings
2. Lifesurance is a savings plan which helps you save for your life’s goals and protect your loved ones. So go
ahead and take a step towards your big dream!
The above 10 reasons are only snapshots of benefits.
IDBI Federal has 3 strong financial institutions backing it –
IDBI Bank, India’s premier development and commercial
bank, Federal Bank, one of India’s leading private sector
banks and Ageas, a multinational insurance company
based out of Europe.
10Strong
parentage
By endorsing your Lifesurance policy under the Married
Women’s Property Act, 1874, you can create an exclusive
fund for your loved ones which is legally protected from
creditors and claimants.
8Exclusive fund for
your loved ones
If you opt for this benefit, your nominee will get an
additional payout in the unfortunate event of an accidental
death during the premium payment term.
6Double protection -
Accidental Death Benefit
In case of an unfortunate event, your nominee gets a
death benefit which includes the death sum insured plus
vested guaranteed additions and accrued bonuses.
5Financial protection
against uncertainty
Lifesurance allows you to enjoy deductions under section
80C on the premiums you pay. It also gives you a maturity
amount that is tax-free under section 10(10D) of the
Income Tax Act, 1961. Lifesurance offers you tax benefits
for all maturity amounts.
7Two tax
benefits
Lifesurance offers attractive premium discounts, if
you opt for a maturity sum insured of `10 lac and
above. For more information on this benefit please
refer to the sales brochure.
9High maturity
sum insured rebate
To create your plan, contact us today
*
customer owns.
Insurance is the subject matter of solicitation. Bonuses depend on the performance of participating fund. IDBI Federal Lifesurance Savings Insurance Plan is a non-linked
participating insurance plan (UIN: 135N029V01). The product is underwritten by IDBI Federal Life Insurance Company Limited (IRDA Regn. No 135) having its registered
office at IDBI Federal Life Insurance Company Limited, 1st Floor, Trade View, Oasis Complex, Kamala City, P.B. Marg, Lower Parel (West), Mumbai 400013.
www.idbifederal.com. Tax Benefits are as per the Income Tax Act, 1961 and are subject to changes in the tax laws from time to time. For more details on risk factors, terms
and conditions, please read product brochure carefully before concluding a sale. Ref. No: 11837/LSIP/ENG/FL2/OCT13/V1
Accidental death benefit (ADB) is optional and is equal to the maturity sum insured. The maximum ADB payable is Rs. 50,00,000 across all IDBI Federal policies that the