Immediate Annuity/Straight Life Annuity :
These are single-premium policies. The life assured pays a lump sum and the insurer pays him/her a specified amount throughout his/her lifetime. The word immediate denotes that the annuities start from the day on which the single premium is paid, providing immediate income to the insured.
These are single-premium policies. The life assured pays a lump sum and the insurer pays him/her a specified amount throughout his/her lifetime. The word immediate denotes that the annuities start from the day on which the single premium is paid, providing immediate income to the insured.
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