Immediate Annuity Certain (Table-29)
Immediate Annuity Certain (Table-29)
Why State Life
State Life offers complete satisfaction to our valued policyholders from issuance of policy, providing after sales service and optimizing return on Life Fund through a quality culture and to maintain ourselves leading life insurer in Pakistan. The sum assured and declared bonuses payable on maturity or death (God Forbid) are guaranteed by the Government of Pakistan.
What is Immediate Annuity Certain (Table 29)?
This plan provides a financial security to the annuitant by paying regular payments during the annuitant’s lifetime. The premium will be paid by single premium and the annuity payments are not dependent on the life of the policyholder. There is no death benefit payable and the plan does not carry any surrender value.
Why Buy and what needs does this fulfill?
- To finance your children’s education and other needs
- To have a savings plan for the future so that you have a source of income after retirement
- To provide for other financial contingencies and life style requirements
Plans & Features
| Plan Features | Description |
| Plan Type | Annuity (Single or Multiple lives) |
| Minimum/Maximum Age at Entry | – |
| Minimum/Maximum term | Certain period |
| Bonus participation | Annuity Plan |
| Where are the funds invested | Annuity Plan |
| Death Benefit | No death benefit |
| Surrender/ Early Withdrawal | No Surrender value |
| Maturity Benefit | No Maturity Value |
| Loan Facility | No Loan Value |
| Free-Look Period | The policy can be cancelled at the option of the policyholder within (14) fourteen days of its commencement date. |
| Grace period: | Policyholders can pay the premium to state life within a grace period of 31 days after it falls due. |
| Underwriting Requirements | The plan will be subject to underwriting as per standard practice of State Life |
Premium Rates:
Premium rates for the annuity plans are highly dependent on the prevailing investment conditions. Premium rates are determined on case-to-case basis.
Disclaimers
This product is underwritten by State Life Insurance Corporation of Pakistan. The past performance of State Life Insurance Corporation of Pakistan is not necessarily a guide to future performance. A personalized illustration of benefits will be provided to you by our representative. Please refer to the notes in the illustration for detailed understanding of the various terms and conditions. A description of how the contract works is given in the policy privileges and conditions. This products brochure only gives a general outline of the product features and benefits and the figures used above are indicative and for illustration purposes only.