Sunday, October 16, 2005

Pay an annuity to an injured person

Some people are injured in an accident. They are paid a lump sum as a compensation.

It is better for these victims to receive an annuity of $X a month for a certain number of years, or for a lifetime.

This ensures that the money is used for the purpose, ie medical and living expenses, and not used for other purpose, eg buy a property or speculate in investments.

2 comments:

askaboutlife said...

This is a sort of Enhanced Permanent Total Disability insurance policy.

Unfortunately, Income does not yet have such a policy or rider. Only Aviva, Great Eastern and Manulife have such insurance now.

I hope Income would soon launch such a product.

aaravlaghar said...

Thanks for sharing the blog, seems to be interesting and informative too. Can you suggest some of the interesting places to visit for early critical illness insurance Discover our wide range of insurance solution online here at Prudential Singpapore. We offer term & whole life insurance, savings & investment plans, medical & health cover and also the retirement solution.

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