Document Overlap
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First documentWhat Happens to an Annuity After Death?Open original ↗
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Second documentWhy You Should Get an Annuity Plan After Retirement?Open original ↗
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Top paragraph overlap
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Paragraph matches
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First paragraph60 words
What is an Annuity Plan? How Does it Help After Retirement?
The annuity plan helps you get regular income for life (until your death) in return for a lump sum investment you make today. You can plan for your retirement in different ways, but to handle the above scenario, you may consider having an annuity plan. It will ensure you will always have a continuous source of regular income for life.
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Second paragraph54 words
What are Annuity Plans?
An annuity plan is an investment option that helps you receive regular payment from a lumpsum investment. Life insurance companies provide multiple annuity plans you can use for your specific income goals. The best pension or annuity plans provide a safe investment space for your money and preserve your investment for a long time.
First paragraph60 words
Conclusion
Annuity plans help you enjoy a worry-free life after retirement by giving you regular income. They protect you from outliving your savings and support your partner, too. Plans like Pension4Life by Canara HSBC Life Insurance give you lifetime income and financial security for your family. Choose an annuity plan while planning your retirement to stay stress-free and independent.
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Second paragraph18 words
Role of Annuity Plans in Retirement Goal
Canara HSBC Life Insurance offers a Pension4life Plan that frees you from the worry of income post-retirement.
First paragraph96 words
Immediate Life Annuity with Return of Purchase Price
The annuity continues till your natural demise. After your death, the balance is paid to your nominee. The balance is calculated by subtracting the price of the plan and the total of annuity instalments paid till your death. For example, if you bought the annuity plan by making a lump sum payment of ₹10 lakh and received ten payments of ₹25,000 each before your death. The nominee will receive a balance of ₹7.5 lakh as the death benefit. If the balance of the purchase price is negative, the nominee does not get any amount.
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Second paragraph109 words
5 Reasons you should Buy an Annuity Plan
Leave a Legacy: When you buy a retirement plan, one important parameter to consider is - what happens if you die before the benefits start. Pension4Life by Canara HSBC Life Insurance has an option wherein upon your death, the purchase price is given to your beneficiary (purchase price is the value of your investment corpus at the end of the accumulation phase with which you purchased the annuity). There are other options as well in this plan. For example, on your death, the balance of the purchase price is paid to the beneficiary. The balance gets calculated by subtracting the total annuity instalments paid till death with the purchase price.