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Purchase annuities in a staggered manner to get a better rate of return

Buy plans that do not have return of purchase price option, at a later age, to get a better rate of return

Topics
Investments | Financial planning | Pensions

Sanjay Kumar Singh  |  New Delhi 

Immediate annuity plans of insurers are currently offering relatively attractive rates of return. The rate for 60-year-olds with the return of purchase price (RoPP) option, where the principal is returned on death, is 5.55-6.37 per cent.

The without RoPP option plans offer even better rates of 7.23-8.49 per cent. Experts say these are reasonably good rates to lock into at a time when fixed deposits (FDs) from the State Bank of India (SBI) are offering senior citizens 5.5-6.2 per cent for the 1-10-year tenor. Lock in rate for lifetime An annuity provides a guaranteed ...

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First Published: Thu, January 14 2021. 06:10 IST
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