Compare Immediate Annuity

Annuity Quick Guide

Income Term : Any

Total Premium : HKD 1,000,000

Insurer

HKD

We found 6 Immediate Annuity product(s) matching your selected filters.
Assumptions
HKMC Annuity | 香港年金
HKMC Annuity Plan
Single Premium
Age 65 Start
Whole life Annuity
9.9
/ 10
10Life Score
Guaranteed IRR at Age 85
3.6%
1st Year Guaranteed Income
HKD
63,800
1st Year Expected Income
HKD
63,800
AXA Hong Kong and Macau | AXA 安盛
JoyAhead Immediate Annuity Plan
Single Premium
Age 65 Start
Whole life Annuity
9.3
/ 10
10Life Score
Guaranteed IRR at Age 85
0.0%
1st Year Guaranteed Income
HKD
42,570
1st Year Expected Income
HKD
42,570
China Life | 中國人壽
Wealth Grower Guaranteed Annuity Plan
5-year Premium
Age 65 Start
36-year Annuity
8.7
/ 10
10Life Score
Guaranteed IRR at Age 85
1.7%
1st Year Guaranteed Income
HKD
42,787
1st Year Expected Income
HKD
51,409
Manulife | 宏利
FlexiFortune Annuity Plan
Single Premium
Age 66 Start
25-year Annuity
7.3
/ 10
10Life Score
Guaranteed IRR at Age 85
0.7%
1st Year Guaranteed Income
HKD
37,603
1st Year Expected Income
HKD
37,633
HSBC | 滙豐
EarlyIncome Annuity Plan
3-year Premium
Age 66 Start
20-year Annuity
7.2
/ 10
10Life Score
Guaranteed IRR at Age 85
1.0%
1st Year Guaranteed Income
HKD
56,497
1st Year Expected Income
HKD
64,159
AIA | 友邦香港
Spring Income Plan
Single Premium
Age 66 Start
18-year Annuity
6.3
/ 10
10Life Score
Guaranteed IRR at Age 85
0.8%
1st Year Guaranteed Income
HKD
60,000
1st Year Expected Income
HKD
71,800
HKMC Annuity | 香港年金
HKMC Annuity Plan
Single Premium
Age 65 Start
Whole life Annuity
10Life Score
9.9
/ 10
Guaranteed IRR at Age 85
3.6%
1st Year Guaranteed Income
HKD 63,800
1st Year Expected Income
HKD 63,800
AXA Hong Kong and Macau | AXA 安盛
JoyAhead Immediate Annuity Plan
Single Premium
Age 65 Start
Whole life Annuity
10Life Score
9.3
/ 10
Guaranteed IRR at Age 85
0.0%
1st Year Guaranteed Income
HKD 42,570
1st Year Expected Income
HKD 42,570
China Life | 中國人壽
Wealth Grower Guaranteed Annuity Plan
5-year Premium
Age 65 Start
36-year Annuity
10Life Score
8.7
/ 10
Guaranteed IRR at Age 85
1.7%
1st Year Guaranteed Income
HKD 42,787
1st Year Expected Income
HKD 51,409
Manulife | 宏利
FlexiFortune Annuity Plan
Single Premium
Age 66 Start
25-year Annuity
10Life Score
7.3
/ 10
Guaranteed IRR at Age 85
0.7%
1st Year Guaranteed Income
HKD 37,603
1st Year Expected Income
HKD 37,633
HSBC | 滙豐
EarlyIncome Annuity Plan
3-year Premium
Age 66 Start
20-year Annuity
10Life Score
7.2
/ 10
Guaranteed IRR at Age 85
1.0%
1st Year Guaranteed Income
HKD 56,497
1st Year Expected Income
HKD 64,159
AIA | 友邦香港
Spring Income Plan
Single Premium
Age 66 Start
18-year Annuity
10Life Score
6.3
/ 10
Guaranteed IRR at Age 85
0.8%
1st Year Guaranteed Income
HKD 60,000
1st Year Expected Income
HKD 71,800
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Annuity Quick Guide

What is Annuity?
Suitable for retirement
Provide a stream of steady income
Pay for living and medical expenses

Annuity is a type of long-term insurance policy that converts one's savings into a stream of steady monthly or annual income. The income may start immediately (immediate annuity) or at a later time (deferred annuity).

Immediate VS Deferred Annuity
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Target
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Payment period
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Income period
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Immediate Annuity
Close to retirement
Lumpsum
Start immediately and continue for certain years or whole life
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Deferred Annuity
Planning for retirement
Usually 5 or 10 years
Start at a later time usually at age 50-70 and continue for certain years
Annuity Glossary

Guaranteed Return

The minimum amount that an insurance company must pay.
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Projected Return

The amount of return that an insurance company has the discretion to distribute depending on a number of factors such as investment performance, claims experience, operating expenses, etc. The actual return could be higher or lower than the projected amount.
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Fulfilment Ratio

The Insurance Authority requires insurance companies to disclose the non-guaranteed return fulfilment ratio of participating insurance (including annuity) against the projected return in the proposal illustrations. If the fulfilment ratio is 100%, it means that the insurer has achieved its projected non-guaranteed return.
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Who needs to buy Immediate / Deferred Annuity?
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Pre-retirees
Can consider converting accumulated savings and MPF into an immediate annuity to provide a stream of steady income to support post-retirement expenses.
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Retirement Planning
One should start saving for retirement as early as possible to accumulate a sufficient sum for post-retirement income
Frequently Ask Questions
Does annuity pay income annually?

Income can be paid monthly, annually or quarterly.

What is the difference between annuity and QDAP?

The full name of QDAP is Qualified Deferred Annuity Product. It is a kind of deferred annuity product, which provides tax benefits. QDAP are annuity products that are certified by the Insurance Authority by meeting specified criteria. 

How does Mortgage Corporation (HKMC) Annuity Plan differ from other annuity plans?

HKMC Annuity Plan is an immediate annuity product issued by HKMC Annuity Limited (HKMCA) Hong Kong. It converts a lump sum into a stream of guaranteed whole life income, but does not provide any tax benefits. 

Which is the best insurance company for Annuity?

10Life compares and rates annuity products in the market based on a number of criteria including the ability to sustain for longevity, guaranteed return, projected return, early death benefit and early surrender value.

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Which is the best insurance company for Annuity?

10Life compares and rates annuity products in the market based on a number of criteria including the ability to sustain for longevity, guaranteed return, projected return, early death benefit and early surrender value.