officially, aviva has scheduled the launch of their latest product, my retirement on april 04, 2012.
what is aviva my retirement?
this is a limited and regular premium participating endowment product with coverage for death and terminal illness and comes with the following features:
a. limited premium payment of 8 policy years or premium payment for up to 5
years prior to the selected retirement age which is age 50, 55, 60 or 65
years.
b. guaranteed issuance for basic plan and
c. guaranteed retirement income benefit.
the guaranteed retirement income benefit comes with the flexibility of the following options:
a. receive a monthly guaranteed retirement income benefit for 10 years
b. receive the usual full lump sum payment or
c. receive a partial lump sum payment and thereafter, receive a monthly
guaranteed retirement income benefit for 10 years.
what happens if the policyowner/life assured does not need the money ......