ULIPs and mutual funds are two popular yet distinct investment avenues, each coming with its unique set of benefits and drawbacks. Know which one is better for your individual needs and preferences.
Dealing with ever-changing life situations can be a pretty handful at times. However, if you remain financially prepared for unexpected situations like a medical emergency or sudden unemployment, you can be relaxed about the future to some extent.
To remain ready for any unanticipated situations, it is recommended that you invest in an annuity plan, which is an investment plan that enables you to create a retirement corpus. However, calculating the annuity payout can be a tedious process as several factors have to be considered while estimating the amount. This is where an annuity calculator comes into the scene.
This article will shed some light on what an annuity calculator is, how to calculate an annuity payout, and the factors to consider when calculating an annuity payout.
Before this, let’s first understand more about annuity plans and their types.
An annuity plan is a type of investment plan wherein you invest a portion of your funds with an insurance provider upon purchasing a plan. The insurance provider, in return, provides you with a certain amount as a return on investment. The returns are earned by investing a part of the premium into return-guaranteeing investment ventures. A remarkable benefit of such plans is that you have the freedom to select the type of investment venture from the options available with the provider.
Here are a few steps that can help you understand how an annuity plan works -
Described below are the different types of annuities available in the UAE -
This investment plan has two parts -
An annuity calculator is an online tool that you can use to calculate the payout of an annuity plan during the accumulation period. All you need to do is provide information about how long you want to receive the payouts, when you plan on starting the payout, residence, intervals between the payouts, and the principal you plan on investing.
An annuity calculator provides you with an estimated payout as per your investment capacity, investment period, choice of payout mode, and more.
With the help of an annuity calculator, you can estimate the following -
Other information that you can estimate using an annuity calculator is -
The following information must be provided for calculating the annuity payout -
You should take note of these factors when calculating annuity payout using an annuity calculator -
An annuity calculator is an automated online tool that enables you to get an estimate of the annuity payout that you would receive in the vesting period. With the help of an annuity calculator, you can also figure out whether you need to make any additional savings or estimate the future value of your current savings.
You can calculate your annuity payout using the customised Annuity Calculator on Policybazaar Insurance. Moreover, you can purchase the best annuity plans from Policybazaar Insurance. We have an assorted list of the best annuity plans from the leading providers in the UAE that can help you earn attractive returns.
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