Deferred Annuity
Deferred Annuity
A Deferred Annuity is an insurance product designed for long-term savings such as retirement. You deposit a lump sum amount with an Insurance Company who promise to pay you a guaranteed income at some future date for a specified period or for the rest of your life.
By delaying access to your funds, you give your money more time to compound enhancing your income.
The income payable depends on defer period and same factors as a Pension Annuity.
A Deferred Annuity is an ideal way to secure a retirement income if you;
During defer period, you have no access to the invested amount. However, in event of death, the invested amount and interest accrued is paid to your beneficiaries. A Deferred Annuity can be a good retirement planning solution when taken at the right time.
At Retirement Solutions, We help you assess if Deferred Annuity is the ideal solution to meet your needs.
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