Is Annuity insurance suitable for anyone, is it worth it or not?
Annuity insurance is a life insurance that focuses on saving money like accumulative life insurance. The insured must pay the insurance premiums for the period specified in the life insurance policy made. But the form of refunds There will be no refunds along the way. The policyholder must save money continuously until the retirement age (such as 55, 60 or 65 years depending on the type) and will receive a refund in the form of pensions until the age of 85 or 90 years depending on the model.
In addition to the pensions that will be received after retirement, the insured will receive protection due to death. And can use the pension premiums to reduce the tax as required by law.
Who is annuity insurance suitable for?
Benefits of annuity insurance
Annuity insurance restrictions
Is it worth it? To get Annuity insurance
Worth it or not depends mainly on your financial goals. Before you buy any type of financial product You must always ask yourself first that what do you want? What is your financial goal? And your ability to take risks? As already mentioned, annuity insurance is provided for retirement planning that is suitable for those who want a fixed pension income in a certain period. As well as receiving life protection and tax deduction rights and is a less risky alternative than other alternatives. If you have needs like those mentioned annuity insurance will meet your needs.
Annuity insurance is not better or inferior to other options. It all depends on the financial goals you set. We should choose financial assets that enable us to meet and meet our financial needs as much as possible. For those who know and understand what they want Will to be able to choose the financial asset that is best for you
ฺBy : Nipapun Poonsateansup ,CFP® Dependent Financial Planner