Compare Immediate Annuity

Annuity Quick Guide

We found 5 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
Immediate Annuity Score
 3.6%  
 Guaranteed IRR at Age 85  

              HKD
            
 63,800  
 1st Year Guaranteed Income   

              HKD
            
 63,800  
 1st Year Expected Income   

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China Life | 中國人壽

Wealth Grower Guaranteed Annuity Plan

5-year Premium

Age 65 Start

36-year Annuity

          8.7
        
/ 10
Immediate Annuity Score
 1.7%  
 Guaranteed IRR at Age 85  

              HKD
            
 42,787  
 1st Year Guaranteed Income   

              HKD
            
 51,409  
 1st Year Expected Income   

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BOC Life | 中銀人壽

Smart Immediate Annuity

Single Premium

Age 64 Start

Whole life Annuity

          8.0
        
/ 10
Immediate Annuity Score
 0.7%  
 Guaranteed IRR at Age 85  

              HKD
            
 45,001  
 1st Year Guaranteed Income   

              HKD
            
 45,001  
 1st Year Expected Income   

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HSBC | 滙豐

EarlyIncome Annuity Plan

3-year Premium

Age 66 Start

20-year Annuity

          7.2
        
/ 10
Immediate Annuity Score
 1.0%  
 Guaranteed IRR at Age 85  

              HKD
            
 56,497  
 1st Year Guaranteed Income   

              HKD
            
 64,159  
 1st Year Expected Income   

WhatsApp Enquiry

AIA | 友邦

Spring Income Plan

Single Premium

Age 66 Start

18-year Annuity

          6.3
        
/ 10
Immediate Annuity Score
 0.8%  
 Guaranteed IRR at Age 85  

              HKD
            
 60,000  
 1st Year Guaranteed Income   

              HKD
            
 71,800  
 1st Year Expected Income   

WhatsApp Enquiry

HKMC Annuity | 香港年金

HKMC Annuity Plan

Single Premium

Age 65 Start

Whole life Annuity

9.9

/ 10

Immediate Annuity Score

3.6%

Guaranteed IRR at Age 85

HKD 63,800

1st Year Guaranteed Income

HKD 63,800

1st Year Expected Income

WhatsApp Enquiry

China Life | 中國人壽

Wealth Grower Guaranteed Annuity Plan

5-year Premium

Age 65 Start

36-year Annuity

8.7

/ 10

Immediate Annuity Score

1.7%

Guaranteed IRR at Age 85

HKD 42,787

1st Year Guaranteed Income

HKD 51,409

1st Year Expected Income

WhatsApp Enquiry

BOC Life | 中銀人壽

Smart Immediate Annuity

Single Premium

Age 64 Start

Whole life Annuity

8.0

/ 10

Immediate Annuity Score

0.7%

Guaranteed IRR at Age 85

HKD 45,001

1st Year Guaranteed Income

HKD 45,001

1st Year Expected Income

WhatsApp Enquiry

HSBC | 滙豐

EarlyIncome Annuity Plan

3-year Premium

Age 66 Start

20-year Annuity

7.2

/ 10

Immediate Annuity Score

1.0%

Guaranteed IRR at Age 85

HKD 56,497

1st Year Guaranteed Income

HKD 64,159

1st Year Expected Income

WhatsApp Enquiry

AIA | 友邦

Spring Income Plan

Single Premium

Age 66 Start

18-year Annuity

6.3

/ 10

Immediate Annuity Score

0.8%

Guaranteed IRR at Age 85

HKD 60,000

1st Year Guaranteed Income

HKD 71,800

1st Year Expected Income

WhatsApp Enquiry

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).

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Immediate VS Deferred Annuity

Target

Payment period

Income period

Immediate Annuity

Close to retirement

Lumpsum

Start immediately and continue for certain years or whole life

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.

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.

tutorial_savings-or-annuity-dictionary-expected-return.png

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.

Who needs to buy Immediate / Deferred Annuity?

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.

Retirement Planning

One should start saving for retirement as early as possible to accumulate a sufficient sum for post-retirement income

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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.

Rating Methodology

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