PIONEER ASSURANCE IMMEDIATE ANNUITY PLAN
This is a plan that has been set up by pioneer assurance for the benefit of their clients who have lump sum amounts and would like to invest in exchange for a stream of payments on a regular basis for a life time.
What are the Features of the Plan?
- Purchased by a one off premium.
- Regular payment lasts for a life time.
- Payments can be made on a monthly, quarterly, semiannually or annually
- The Plan has guaranteed period between 5 to 20 years.
- The plan has an escalation option of 3% or 5 %
- Single or Joint life (Spouse and/children) option is provided.
- There is taxation allowance on the payments.
How do I Join?
- Filling an application form, attaching copy of ID and KRA Pin
- Paying the Lump sum amount.
When does the stream of payments start?
On the same month the lump sum has been paid provided it is received on or before the 15th day of the month or the next month if received after 15th day of the month.
How do I receive my payment?
Through the bank account provided on application or as amended in due course.
What happens when I don’t receive the Payment in time?
Contact us immediately.
What happens to my annuity payments when I die?
The nominated next of kin will receive payments until expiry of the guaranteed period then payment stops.
Why should I choose Pioneer’s annuity?
- Payments are timely since they are automated.
- Flexible options available for you to select from
- Constant communication
- Proven higher periodic payments than competition