What are Annuity Plans?

Annuity plans are investment plans where you make a lump-sum payment or a series of payments when you are young and get a monthly/yearly/quarterly/half-yearly payment in return when you are old.

Annuity plans are mostly offered by insurance companies.

In an Annuity scheme, you make a lump-sum investment or a series of investments and in return get regular pension payments after you retire.

You can choose to receive these payments every:

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    Monthly

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    Yearly

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    Quarterly, Or

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    Half- Yearly

Quiz

In the next section we'll learn about the types of Annuity Plans

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