My previous post I have defined that “what is annuity investment?” But there is a question arises that who should buy this plan, and its beneficial plan or not.
The answer for the question that “who should buy this plan?” then I would give the answer that any individual who have been retiring from his service and has received a large amount from his Provident Funds, can invest the amount in a pension plan or annuity fund available in the market since it is the most satisfactory method of providing a safe and secured income for the rest of his life.
The benefit of this plan is that, by buying an annuity or a pension plan the annuitant receives guaranteed income throughout his life. The person receives lump sum benefits for the annuitant’s estate in addition to the payments during the annuitant’s life time. And also tax benefits are available with this plan