Life Income

A pension scheme that provides a guaranteed, fixed income for life.
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What it is about

Life Income is a pension scheme that converts a single premium into a fixed monthly income for people who are already retired and want to supplement their social security pension.

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Target

Help retirees supplement their monthly pension.

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Duration

Suitable for people aged 50-75

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Benefits/Covers

It provides the following methods of paying the monthly pension:

  • Life annuity where in case of death of the annuitant the payment ceases automatically.
  • Life annuity with a guaranteed period of 5 or 10 years.
  • The capability of transferring up to 75% of the pension to dependents after the death of the annuitant. In case the dependent is minor, then the annuity will be provided up to the age of 21

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