What is Annuity Insurance?

Annuity insurance refers to the insurance in which buyer pays the insurance in proper amount and manners during the time specified in the contract. Annuity insurance, also a kind of life insurance, usually paid annually.  

Annuity insurance has the characteristics of life insurance, as long as the insured person lives, the buyer can be regularly received for a certain period of time, to obtain protection against the loss of income caused by longevity, to achieve the objective of the pension. As a result, annuity insurance is also known as retirement insurance. Pension premiums can be paid in a variety of ways, but the insured must pay all premiums before the insured receives the annuity. Its insurance payment cycle is one year, six months old. In a quarter or in January, the meaning of an annuity is broad. Annuity insurance has solved the problems of the lives of the elderly, so that all countries attach great importance to annuity insurance.

Key Features of Annuity Insurance

1, the underwriter to start collecting, paying all premiums, cannot pay the premium, while receiving an annuity.

2. Annuity insurance may have a fixed period of time, or may not have a fixed period, but the survival of insured annuity insurance as a condition of payment. In the event of the pensioner's death, the insurer immediately cancels the payment.

3, annuity insurance can make the old age of life to obtain economic security. People save inactive funds to pay their premiums when they are young, and they can receive a fixed amount of insurance on time when they are old.

4, annuity insurance for annuity buyers is very safe and reliable. Because insurance companies must establish liability reserves in accordance with the law, and the liability reserve system between insurance companies ensures that the rest of the insurance companies will automatically share annuity payments for purchasers, even if the insurance company that insured the annuity purchased by the customer is closed or insolvent.