Leadway’s Personal Annuity Plan
Our Annuity Plan product is designed to help with the cost of retirement by providing a guaranteed income for the rest of your life.
An annuity is a series of payments made to a person for the rest of their life following purchase of the plan – usually with the proceeds of that person’s Retirement Savings Account under the Pension Reform Act (2004).
Leadway’s Personal (Immediate) Annuity Plan meets the legal minimum requirements of the National Pension Commission (PENCOM) and the National Insurance Commission (NAICOM).
Our Annuity Policy may be extended to any or all of the following options:
- A stepped annual increment of the annuity payment at 5% or 7.5% at every policy anniversary.
- Varying the guaranty period to suit you. Note that Annuity paid for by Retirement Savings Account must have a minimum of 10 years guaranty. However premium from other sources may change to your requirement, from no guaranty at all up to 20 years guaranty.
- A spouse option, which switches the annuity payment to the spouse, in the event of death of the primary annuitant. The payment continues for the lifetime of the spouse with the unused guaranty time maintained. The amount can be a choice from 25%, 50% or 75% of the primary annuity amount.
The annual payments can be made monthly, quarterly or annually.
Please click here to download the policy brochure to know the features and benefits relating to this product to ensure it fully meets your requirement.
Click here to get the product application form.
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Or call 01 2800700 to speak with one of our Customer Service team.