CORNERSTONE ANNUITY PLAN FOR RETIREES
Annuity is a contract between an annuitant (Policyholder) and the insurance company whereby the Annuitant deposits a lump sum to the insurance company which ensures a fixed sum is paid to him by the insurance company at an agreed frequency (e.g Monthly, Quarterly) typically for the rest of the annuitant’s life. However, payment ceases (except for the guaranteed annuity) upon the unfortunate death of the annuitant. This product is available online in three variants: Flat Annuity with No Guarantee: Under this annuity type, the structured payment is made to the client as long as the annuitant lives and payment ceases upon the on fortunate death of the annuitant Flat Annuity with 5 Years Guaranteed: Under this annuity type, the structured payment is made to the client for a guaranteed period of 5 years regardless of whether he lives or not (If annuitant dies before the end of the fifth year, the present value of the payment yet to be made to him shall become payable to his nam