Since the emergence of annuity plans, people who are really aware of old age have begun to make preparations, whether they are working people or enterprises have launched corresponding annuity plans, hoping that they can provide protection for the future of old age, of course, at this time there are quite a large number of annuity plans to choose from, dazzling, how to make choices, you can do research first, the Eligible Deferred Annuity Plan has been noticed, and is considered to be a high-quality choice.
Requirements of Eligible Deferred Annuity Plan
The Eligible Annuity Plan is a 10Life insurance program introduced to the market, which has been combined with the IIA's guidelines to give the policy requirements, with a total sum insured of at least $180,000, a minimum contribution period of 5 years, an annuity claim period of at least 10 years, a minimum of 50 years of age, disclosure of the internal rate of return of the product, and the need to set out the amount of guaranteed and non-guaranteed benefits in the annuity, if there are additional benefits, such as some critical illness benefits, hospitalization cash benefits, and other additional benefits. If there are additional benefits, such as critical illness protection and hospitalization cash benefits, they need to be calculated separately from the premiums of qualified deferred annuities. This means that this is a normal and reliable annuity. After understanding the structure of the policy, assessing your own needs and comparing the rate of return, you can start making arrangements.
Who is eligible for an Eligible Deferred Annuity Plan?
Although the Eligible Deferred Annuity Plan is clearly introduced, it is more suitable for working people because this policy is also known as a tax deductible annuity, which is what many people are looking for, and this is considered as an option to reduce the pressure of tax deduction. After choosing this policy, working people can make contributions directly during their working life and enjoy tax deduction. After rolling over a period of time, they can turn it into an annuity income, which will be more profitable and provide protection for their retirement in the future.
The overall performance of the Eligible Deferred Annuity Plan is still good, but it is a suitable choice for working people. After understanding its conditions and suitable groups, you can make arrangements according to your own situation; if you are not working when choosing an annuity plan, you should choose an insurance plan that is more convenient in all aspects, and do not need to be concerned about tax deduction benefits.