Life - Annuities

Annuities

An Annuity is a method by which a person can receive a certain amount of money in return for the payment he has made to SahamLife & General Assurance Company Limited.

 

When an individual has a reasonably large sum of money and wants to provide an income for himself after he retires, or at some other time, he can approach Saham and purchase an annuity. The annuity may start at once, (an immediate annuity) or may start at some date in future, (a deferred annuity) Regardless of when it starts it can take various forms. It may provide an annuity for the life of the person, the annuitant, or it may be payable irrespective of death for a certain period, as in the case of the annuity certain.