An annuity is a contract, where an income is paid at regular intervals, in return for a lump sum paid up-front.
Annuity plans
Menu
What is an annuity plan?
An annuity is a contract, where an income is paid at regular intervals, in return for a lump sum paid up-front. Upon paying the lump sum to the insurance provider, the annuity payouts may commence as early as the next month. The income amount is generally guaranteed for life and can be availed in various combinations and options. Just like Life Insurance insures against the risk of per-mature death, Annuity insures against the risk of living too long.
What does annuity plan cover?
- Principal Protection
- Legacy Planning
- Lifetime Income
- Long-term Care Costs
Get Started Today
As an independent agency, WinRich Professional Services Pvt Ltd Helps you find the right coverage
Bangalore, Karnataka
Our Services are available in Mumbai, Pune, Satara, Kolhapur, Delhi, Gujarat and surrounding areas.
What are different Types of annuity plans coverage?
Immediate annuity plan:
In an immediate annuity plan, your income starts immediately after you invest in an annuity plan. You can get the annuity as early as one month after investing in the plan. You can consider immediate annuity plans if you are close to retirement and want to get regular income immediately.
Deferred annuity plan:
In a deferred annuity plan, your income starts at a later date chosen by you. You can lock-in higher interest rates at the time of purchasing the annuity so that you get more money for your retirement years. This option is useful, if you have 5-10 years left to retire.
Term Insurance
Protecting your home with insurance will give you a sense of security
Endowment Policy
Endowment plans offer you guaranteed returns on the death of the insured or after maturity
Unit Linked Insurance Plan
ULIP is both an insurance policy and an investment
Moneyback Policy
Ensure protection for your family along with options to get money back*
Benefits of an annuity plan:
- Lifetime Income – Annuity is payable at a constant rate throughout the life of the annuitant. This is particularly helpful when you do not receive regular income. This pension-like payout makes the routine life of the buyer comfortable.
- Lifetime Income with Capital Refund – Annuity is payable at a constant rate throughout the life of the annuitant. On death of the annuitant, 100% of the premium will be refunded to the nominee and the contract will terminate.
- Lifetime Income with Capital Refund in parts – annuity is payable at a constant rate throughout the life of the annuitant.
- Protection of Capital – Annuity plans are designed keeping inflation in mind, rising medical expenditures, etc. This provides a safe investment option and shields against inflation over a period while building a corpus for retirement.
- Annuity Plan Tax Benefits – Most annuity plans come with tax* benefits under sections 80C and 10(10D). Therefore, these investments grow over a period with savings from tax payments and improve the cash in hand when the payouts start.
- Principal Amount – The principal amount invested is protected in an annuity plan. This means that you can choose any mode of investment or payout. The minimum guaranteed return will not go below the principal amount, thus ensuring that the buyers of the insurance annuity plan will at the least get the principal invested back.
Why you should consider purchasing an annuity plan.
Annuity insurance plans are a great way to plan for retirement. They offer reasonable returns, savings against inflation, and tax benefits. An annuity plan should be a part of your investment portfolio.
Report a Claim
We'll help through the process of claim from start to finish
Request Proof
Need your investment proof, let’s help you get that quickly
Investment Update
Get your Investment update
Pay Online
Online payment option available in some cases
Review Your Investment
Get help in reviewing your current investments
Contact us
Connect with us for any help on personal finance
WinRich Professional Services Pvt Ltd
Our services are available in Bangalore and surrounding areas.
Need a personalized solution?
WinRich Professional Services Pvt Ltd is ready to cater
all your Insurance Requirements
Customer first
Customers and their needs are our first priority. All our insurance plans are tailor made
Community Focused
We give back to our community and get involved with the charities we support.
Passion
We go the extra mile to exceed your expectations, no matter what you need.
Experienced Agents
With extensive experience, we understand what it takes to bring you quality coverage.
We at , WinRich Professional Services Pvt Ltd suggest you the right product with our expertise.
Bangalore, Karnataka
KARUNA COMPLEX with unit no. G4 , Ground floor, 337/3, Sampige Road, Malleswaram, Bangalore 560003