What is Annuity Plan?

What is Annuity Plan?

Annual recruitment or annuity in

finance theory is from a payment that is done in a uniform amount on a fixed interval for a certain period.

For example, depositing a fixed amount on regular intervals in savings account; Payment of monthly installment on home purchase; Monthly insurance premium deposit etc. Annuity is paid on weekly, monthly, quarterly, yearly or any other interval.

introduction

Annual Recession For the benefit of a poor or qualified person, the stipend, or allowances for a person's nutrition, in the year, are called annual recruitment. The funds given in this form of assistance are given in many installments, at a fixed time, such as monthly, quarterly or annual. In more widely, we can call any series of payments as a recruitment. All are familiar with scholarship and pension. The Annuity Certificates of Government of India are also examples of this, and the series of interest that is available on Treasury Saving Deposit Certificates is also called Bhati.

There can also be many different distinctions of the devils by the distinction of a series of grants. The rate of interest is usually given 'per year', whether interest is payable multiple times a year, in the same way, it is estimated that according to the amount of 'Bhati Bhawan' every year, the amount is also payable in the year. If anyone gets Rs 100 If you meet monthly, then Bharthedhan will get Rs 1,200. Happened.

There are two types of hymns, one which relates only to 'time', such as the 15-year recite letters. Here there is no owner of the letter of honor, the devotee will continue to be blessed for 15 years, not less nor more. Therefore, these types of devotees can call 'fixed period' or 'fixed' (Annuities Certain).

Secondly, they are the housewives, who have a relationship with some life (or many lives), such as Rs 1,200 on the life of Mohan There is a quarterly recession per year. Under this, Mohan will survive till 300 rupees every three months. Will continue to meet. If Mohan Bhatra has won 50 years after the start, then he will get Rs 60,000. You can meet, but if 15 years survives then only Rs 18,000 Will meet. As in life insurance, it can not say how much money the insurer will get from the proposer, in the same way, as well as how much money will be offered to the proposer. Such a person will call life annuity.

Man's death is certain, but nobody can tell his time. As a result, two problems come before man, how will the dependence of the dependents be nourished after death in the first place? Tired of second labor, or on retirement, how will your self-sustenance end to death?

A 60 year old man will get Rs 40,000 from the insurance corporation to Rs 300. Receives life balance of the monthly. Now leave 40, even if 50 years are alive, no worries, it is worth 300 rupees. Keep getting monthly. Where and how to invest 40 thousand rupees, there is good interest and also the rupee is not immersed, etc. No worry about it now. There is also the possibility of a healthy and long life rather than worry.

But if this person dies after four years, then the total amount is Rs. 14,400. Will receive only. At that time it can be said that the corpseal body has got a quick leave from this Maya world. But there will be no satisfaction with such a thing, especially if any relatives are alive. In such a case, this person can take a fixed term guaranteed life saving. For example, the person took a life-long vow with a guarantee of 15 years. Now he has to pay Rs 40,000 to Rs. 244.80 per month. Even if he dies at the time of proposal, even then nominee will get Rs. 44,064 will be received in the form of recruitment. Thus, in this case, the capital with the interest at the rate of 1.25 percent will be returned. If the survival of more than 15 years, then the number of days survived will be as much profit. Due to being related to life, its value depends on mortality.

It is not necessary that lifetimes should be taken only after retirement. Upon retirement, the immediate annuity is taken. But deferred devotion can be taken very long ago. At the age of 35, only about Rs 1,025 By paying annual fee (up to 25 years), from Rs. 60 to Rs. 247.73 with monthly or 15 year guarantee The monthly insurance can be obtained by the corporation. Income tax exemption can also be obtained on the given charges.

One question arises that if a conservative dies before the ascension is established, then in such a case, if nominated is not given anything, then it will not be good. In fact, in the event of the death of the proposer before retirement, his dependents need more money. Therefore, in general, the fees given in such condition are returned. Rs 1,025 Annual fee for this type of recruitment scheme is for the scheme. If this condition was not there, the fee would have been less.

With this view it would be better to give some more fees (Rs 1,275 per year) to Rs 30,000 With the profit of Rs, or Rs 40,000 (by annual Rs 1,463) Unemployment insurance should be done in the endowment plan for 25 years and after receiving the age of 60 years, the life assured will be taken immediately from the insurance money. But it is possible, after 25 years, the rates of interest dropped and the purchasing of immediate payable rupees would increase. In such a case, the other way, it is possible to resolve the two problems (premature death and longevity) of life, in the least, in the least value. For the first time, only the term assurance should be done for the appropriate amount, which gets insured in the event of death before retirement, otherwise the poor do not. For a long life person, he should be given a deferred life, in which he could not find anything after death. Generally such insurances are not given, but they are received in group insurance plans.

There is also a question that how much recession will be needed when you retire, what will be the level of living and what will be the cost? The answer is not easy, but can say that if Bhattha is related to the income of the former, due to retirement, then there is a lot of solution to the question. This arrangement is facilitated by the salaried group insurance plans.

In it, it is necessary for the employer to carry a portion of the fee (usually 25 percent). Also, in the future, it is necessary for each new insurer to join. Insurance and recruitment are determined on the payroll and every year again (incrementally) are allocated. Charges are also fixed in such a manner that either the employer can bear full load, or some part employer and some employees. The employer can afford a certain part of the fee, such as quartile, or third, and the remaining employee; Or the employee can afford a certain part of salary, such as 5 or 7.5 percent, and the remaining employer. The name of the employer becomes a major policy, which has the details of the names of all employees and the sum insured on their lives. All new insured employees and many in the beginning, as well as at least 50% and at least 50 or 100 persons in the number, are included. Thus, the insurance corporation also offers some rebate in such a case. Special features are also given in case of medical examination and proposal letter. Income tax department also relaxes in some cases. Government employees can get a pension on behalf of the government, but other employers can benefit from these plans of Life Insurance Corporation.