Be careful when choosing an annuity plan, these are the things you should pay attention to

Since the introduction of annuity plans in Hong Kong, many people will join them. They have already realized the importance of elderly care and are naturally wi...

Nov 03,2023 | EmilySarah

Since the introduction of annuity plans in Hong Kong, many people will join them. They have already realized the importance of elderly care and are naturally willing to plan ahead, but how to plan depends on the details of the chosen annuity plan. If the chosen annuity plan is not suitable enough at the time of enrollment, it will give rise to a variety of problems, so it is necessary to spend effort in selecting the plan from the outset.

Pay attention to the annuity plan platform

When you are planning to take out an annuity plan, you need to understand the details of the platform, whether it is regular and reliable, whether it has been in operation for a long time, and whether it can guarantee that you will get a real annuity after retirement. You can also find out about the quality and reputation of the platform, and what kind of insurance programs it offers in the market.

Pay attention to the structure of the annuity policy

When purchasing an annuity policy, you should pay attention to the specifics of the policy, whether the overall structure is suitable, what advantages exist, and whether the form of contribution is reliable. Only when you know enough can you make the right choice, and if you don't know the contents well enough, it will be difficult to make the right arrangement.

Pay attention to whether the annuity plan meets your needs

Different people have different needs when choosing an annuity plan. Before taking out an annuity plan, an insured person should weigh his/her financial strength, future development and the kind of retirement life he/she wants to have, and consider the unexpected factors that may occur to avoid defaulting on contributions after taking out an annuity plan. If you are an employed person, you should pay attention to the availability of tax deductible benefits. 10Life's tax deductible annuities, which have been introduced to the market at this stage, are very popular and suitable for employed people to choose, and they have many advantages, which are equivalent to a good choice for some people to increase their pension.

All in all, you should make more comparisons, understand more, conduct more surveys and screen more annuity plans. Apart from understanding the situation of the platform, you should also understand the situation of the insurance policy, the merits of the policy and the problems of the policy, and analyze the situation comprehensively without any carelessness. You should know that the annuity plan can not be stopped after the start, otherwise it is a loss-making choice. In order not to lose money in the future, we should make comprehensive preparations and choose the right policy.

Annuity Plan