Draw an income from your savings

What solution can you choose to make your life goal real?

You can choose one of our voluntary annuities to make your money work for you.

• Life Annuity – regular income for life
  A Life annuity is also known as an immediate annuity. It pays an income for the rest of your life. You receive your first income immediately after you invest your savings money with us.
• Term certain annuity – regular income for a definite period of time
  A term certain annuity is the ideal investment if you need some extra income for a fixed number of years. It guarantees how much and for how long we pay your income.
• Capital Preservation Income Option – Investment Income Plan
  This investment gives you an income for life and protects the savings amount you first invested. You can choose to protect from 25% to 100% of your savings money. When you pass away, the income payments stop and we pay your protected savings money to the people you choose to get it.

What are the benefits of the solutions and how do they work?

Life annuity

A Life annuity suits your life goal if:

• You want to make sure that your income payments continue at a fixed level for a number of years even when you pass away in that time.
• You do not want to leave money for your beneficiaries when you pass away.

You can choose between two types of life annuities depending on your needs:

• Single life annuity
  This investment is on the life of one person only and we pay the income until you pass away.
• Joint life annuity
  This investment is on the lives of two people (husband and wife, or life partners) and we pay the income until both people pass away. You can choose to have the income remain the same throughout or we can lower it after the first person passes away.

Term certain annuity

A term certain annuity pays you an income for a fixed number of years when you invest your savings money with us. At the end of this term, you receive no more income payments and we pay no money back to you.

• Gives you extra income for at least five up to twenty years when you need it.
• It guarantees how much income we pay and for how long we pay it. This works well if you have extra financial responsibilities for a fixed number of years, such as paying for your child’s education, or repaying a loan.
• You may choose to get your regular income payment every month, every three months, every six months or once a year.
• You may also choose to increase your income amount by a fixed percentage each year to better keep up with inflation.

Capital Preservation Income Options – Investment Income Plan

You can choose different income options.

• Choose between level and increasing annuity
  • A level income means that your income will remain the same throughout your lifetime.
  • An increasing income means that your income will automatically increase between 3% and 15% every year to make sure that your income keeps up with the rising cost of living (inflation).
• Choose an income boost option
  If you choose one of the Income Boost options, your yearly increase plus your Income Boost option increase will be added to your income.

• No Income Boost option: the capital you preserved remains unchanged.
• Phased Income Boost option: your income will increase each time the capital preserved reduces*.
• Immediate Income Boost option: your initial income level will be higher at the start taking into account the future reductions* in the capital preserved.

* The amount of capital preserved will reduce by 10% every 5 years until the minimum preservation amount of 25% is reached. This may be more suitable if you have younger dependents or higher responsibilities. As your dependents grow older or your responsibilities get less, you may not need to preserve as much capital.