What Is an Annuity Date?

Personal annuity is one of the types of annuity insurance. An insurance policy covers only one person. After the insured pays the annuity insurance premium, the insurer regularly pays them a fixed amount of annuity after the start of the payment period. When the insured person dies, the annuity insurance contract is terminated, and his heirs are not entitled to continue to receive the annuity. ^[1]

Personal annuity

Right!

Personal annuity is one of the types of annuity insurance. An insurance policy covers only one person. After the insured pays the annuity insurance premium, the insurer regularly pays them a fixed amount of annuity after the start of the payment period. When the insured person dies, the annuity insurance contract is terminated, and his heirs are not entitled to continue to receive the annuity. ^[1]

Chinese name

Personal annuity

Nature

A series of regular payments

Definition

Monthly rent payment and regular salary

Object

Policyholders and insurance companies

classification

Divided by annuity purchase method

Paying annuity and term annuity

According to the start of annuity payment

Spot annuity and deferred annuity

1. Current annuity: refers to the annuity paid from the date of purchase of the annuity after the annuity period has expired;

2. Deferred annuity: refers to an annuity that starts to be paid more than one annuity period from the date of purchase;

According to the time when the annuity payment ends

Life Annuity, Fixed Annuity and Limited Life Annuity

1. Lifetime annuity: An annuity that is paid at least periodically during the life of a designated individual, and some lifetime annuities also guarantee more benefits;

2. Fixed annuity: An annuity that is paid regularly during the agreed period and stopped after the period expires, and has nothing to do with the survival of the annuity recipient;

3. Limited life annuity: An annuity that is paid regularly before the death of the recipient (whichever occurs first) after the agreed period.

Divided by number of annuities

Individuals receiving annuities and unions and final survival annuities

Whether there is a guarantee for the amount of annuity payment

Fixed benefits and variable annuities

1. Fixed payment annuity: An annuity that the insurance company guarantees to pay regularly at least with the agreed amount;

2. Variable annuity: The operation is divided into two periods: the accumulation period and the payment period. The cumulative value of the annuity and the monthly payment amount will fluctuate with the performance of the separate investment account. The investment risk is borne by the policyholder. Yield and periodic payments.