Annuity Plan: Save Money and Enjoy a Hassle-free Retirement
MyHomeGuard is more than just household insurance. It provides cover for ATM assault, injuries resulting from theft, and personal accidents that occur outside your home.
Chubb leverages superior underwriting expertise and world renowned claims, account services, and financial strength to offer solutions for small and medium businesses.
Today’s multinational organizations face complex and interconnected risks. We offer insurance solutions that are tailored to global needs as well as local requirements, helping them address their risk management challenges.
Our partners’ contributions to our success are undeniable. As one of the world’s largest and strongest insurers, we offer a range of products and services capabilities through our distribution channels to ensure yours, too.
Chubb has a proven track record of maximising ancillary revenue for more than 120 business partners across Asia Pacific.
AEON & Chubb Life join hands to secure your future.
Protect your travel adventures, home, and everyday moments with Chubb’s General Insurance. Enjoy flexible coverage from a global insurance leader and buy online in minutes—peace of mind is just a click away.
Buy life insurance online for all your needs—critical illness, accidents, and term life. Enjoy comprehensive protection, health and wellness benefits, and flexible coverage options with easy online purchase.
Many people consider creating a steady and lifelong retirement income, hoping to enjoy fixed amount of monthly payouts until death. Annuity plan offer flexible options that can assist you in effortlessly enjoying a monthly retirement income.
However, with the wide variety of annuity products available in the market, how does one make the right choice? This article aims to introduce different types of annuity plans, allowing you to select the most appealing insurance solution based on factors such as different life stages, durations, and other relevant considerations.
Enjoy Your Retirement Life and Tax Incentive at the Same Time
Retirement is a process, not just a single event. To support your desired lifestyle during retirement, you need to plan ahead with the right tool to help you accumulate and build your retirement reserves. A Qualifying Deferred Annuity Policy (“QDAP”) certified by the Insurance Authority, is an annuity insurance plan which provides regular annuity income during the annuity period for you to achieve a hassle-free retirement, at the same time allows you to apply for tax deduction with the premium you paid
Why is an annuity plan necessary?
An annuity plan is a long-term insurance product that can help you convert your funds into a stable stream of cash income, typically paid monthly or annually. This allows you to systematically use your retirement savings to cope with the financial risks brought about by longevity. In addition, a QDAP certified by the Insurance Authority allows you to apply for tax deductions with the premium you paid.
What types of annuity plans are there?
Firstly, annuity plans can be divided according to the time of extraction, including immediate annuity plans and lifetime annuity plans. The former involves paying the premium in a lump sum and immediately receiving pension income, while the latter involves paying the premium in a lump sum or in installments at a younger age and receiving pension income at a designated year or age.
Annuity plan can also be classified by the term of the annuity payment, including lifetime annuity plans and term certain annuity plans. Gold Fortune Deferred Annuity Plan offers a choice of 5 or 10 years of premium payment period in different installments.
For further information about annuity plan, please contact Chubb Life Hong Kong Insurance Consultant or call our Customer Service Center Hotline at (852) 2894 9833 to schedule a free consultation.
Insights and Expertise
No part of this article may be reproduced in any written, electronic, recording, or printed form without written permission of Chubb.
Disclaimer - All contents of this article are intended for general information/guidance purposes only and not intended to be an offer or solicitation of insurance products or personal advice or a recommendation to any individual or business of any product or service. This article should not be relied on for legal advice or policy coverage and cannot be viewed as a substitute to obtaining proper legal or other professional advice, or for reading the policy documents. You should read the policy documents to determine whether any of the insurance product(s) discussed are right for you or your business, noting different limits, exclusions, terms and conditions apply in each country or territory, and not all cover is available in all countries or territories.