Contemporary, older investors often worry about the eventuality of outliving their asset and ultimately finding themselves in financial trouble at old age. These fears are to a great extent justified, as several people today live for two decades or more post their retirement. This is the reason why certain individuals choose to invest in a variable annuity plan in order to avail a fixed stream of investment income, along with tax-deferred growth.Read more
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Variable annuities are a type of investment vehicle that enables you to make your choice from a range of investment, and ultimately pays you a certain amount of income in your retirement, which is determined on the basis of the performance of the investments selected by you.
Annuities essentially are a chain of periodic payments that have to be made from time to time, to ultimately create a lump sum corpus. Annuity plans are designed to provide regular payouts or income to individuals subsequent to their retirement, so that they can live independently and meet their expenses at old age, without a problem. Annuity plans provide assurance to the individuals that even in the scenario that their other assets are depleted due to certain reasons; they can always depend on this investment vehicle to provide a consistent source of income.
The world is extremely uncertain, and no one knows what eventuality he or she may have to face tomorrow. Moreover, living expenses keep rising with every passing day, and meeting them without a proper income source can be extremely difficult for people. In such a situation, annuities come as a huge help. There are several types of annuities offered in India, which one can opt to invest in, as per their financial goals, budget, and priorities. Typically, annuities are considered a type of insurance in the country, rather than being an investment avenue.
Deferred, variable annuity plans involve two phases, the accumulation stage, and the payout one.
There are several companies in India that allow you to invest in variable annuity plans.