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What is an Annuity Scheme?

April 26, 2017Annuity Scheme

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What is an Annuity Scheme?

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Annuity schemes are those wherein policyholders regular contributions over a period of time (or a one-time contribution) accumulate to form a corpus. This corpus is used to yield a regular income that is paid to policyholders until death starting from your desired retirement age. Some annuity schemes have the option to pay your survivors a lump sum amount upon your death in addition to the regular income you receive while you are alive.