An annuity is a form of insurance or investment contract where the investor receives regular benefit payments from the insurance company in exchange for a single premium initial investment. Our annuity contract is designed to provide periodic income for life once you retire. Our policy acts as an ‘income replacer’ to remove the worry of not having a budget for an unknown period of time.

We provide different types of annuity:-

1. Deferred Annuity – starts paying at a later date to allow accumulation of funds. These funds may be paid periodically or as a lump sum. This is a contract that provides for the commencement of periodical payments at some future date. If the Annuitant dies within the deferred period, the company refunds the purchase price/money with interest at a predetermined rate to the nominated beneficiary.
2. Immediate Annuity – starts paying you immediately after you purchase the product. An immediate annuity is an annuity contract that is purchased with a single payment and pays a guaranteed income that starts almost immediately. Also called a “single-premium immediate annuity (SPIA) The annuity generally starts payment in the month the premium is paid and continues for as long as the annuitant (buyer) is alive or for a specific period of time.
3. Guaranteed Annuity – Annuity contracts allow you to convert part or all of your retirement funds into a stream of guaranteed lifetime income, This effectively insures you against longevity risk (the risk that you live longer than expected) as well as investment risk (using up your money too soon due to poor investment returns).
4. Temporary Annuity – These are annuity contracts that cease payments on the occurrence of a certain named event in the life of the Annuitant other than death e.g. remarriage or attainment of a certain age or expiry of a specified term An annuity certain is an example of a temporary annuity. It secures payment for a specified period regardless of whether the annuitant survives
5. Joint Life Last Survivor Annuity – This contract pays an annuity for the joint life of the two annuitants. Payment usually continues in full after the first death, but sometimes reduces by, say one-third, one-half or even one-fifth Ideal to provide retirement income for a married couple, after the demise of the main annuitant.