FAQs

An annuity is an insurance provision in which you deposit payments over some time and then get a regular disbursement at a stipulated point of your life – usually at retirement. You may purchase an annuity by making a lump payment or split it into a series of payments.

The standard medical insurance plan does not cover every medical bill. A hospital indemnity insurance plan is a contract with an insurance firm that covers the bill your medical insurance doesn’t cover.

Supplemental insurance covers beyond the regular health insurance plans, including deductibles, coinsurance, and copays.

A long-term care insurance policy confers significant protection to take care of you if you need long-term care in your private home or at a nursing home. Unlike a life insurance plan, however, you might not get the money back if you do not get to use it.

Critical illness insurance is a policy that proffers additional cover for critical health problems like a heart attack, cancer, kidney problems, or a stroke. It would cost more to manage these conditions, and the standard health insurance policy will not cover them sufficiently.

We calculate annuity to determine the present value of what you paid overtime. The eventual payment is calculated monthly, using a discount factor.

A life insurance policy is usually considered a personal expense, so it is not tax-deductible.

Annuities are taxable. However, the tax is deferred till you start receiving the income payments from the insurer. The taxation on annuity withdrawals is treated as ordinary income and not capital gains.