Rent it is a notion with various uses. It may be the income of an individual or a company, of the Profits that generates something or values that are paid to a landlord.
Life, for its part, is what extends from the moment it is obtained to the moment of death. Something for life, therefore, it last for ever.
The idea of annuity refers to contract that forces one party to pay a payment periodically to the other, until one of the individuals participating in the contract dies. In this way, only the death of one of the parties will imply the termination of the contract.
The annuity can have as beneficiary a third. A woman, for example, can charge a pension for life on the death of her husband. In this case, the pension represents a life annuity: every month, until she dies, the woman will receive a certain amount of money.
The disability pension that a worker who suffered a certain work accident receives is also constituted as a life annuity. The money that he will receive periodically until his death represents compensation or assistance for this disabled person who, for the accident, you can no longer work and receive a salary for your activity.
Some insurers and pension companies offer a life annuity to their clients. This income implies that the personAfter investing some initial capital and then making certain contributions, you will earn a regular income for the rest of your life.
With regard to retirement, it is possible to distinguish between five types of paid annuity, which are listed below:
* to be collected during the life of the insured person: in this case, the member determines how much he wishes to contribute and then receives the income once a month during the last years of his life. Although it does not offer the redemption option, it is the modality that offers the highest amount of all. It is indicated for those individuals who have the possibility of parting with a portion of their estate, who do not have heirs or who have them and plan to assign the rest of it to them;
* with minimum payment period: the mutualist defines the period in which he wishes to collect the rent and if he dies before the term, the benefit it is transferred to the beneficiaries you have chosen. The maximum term is 25 years. This type of annuity is ideal for those who are in charge of other people and want to make sure that they do not lack an economic income once they are gone;
* with reversion in favor of a third party: similar to the first modality, the mutual collects the rent periodically, but establishes a percentage (ranging from 50% to 100%) that a beneficiary will charge after his death. It is very common in couples and marriages;
* with partial refund: in addition to collecting the rent, the insured or his beneficiaries have the possibility of recovering the capital contributed on the condition that at least one year has elapsed since the beginning of the contribution and yielding 2% of it annually. This modality is usually used by those who want to be able to count on a part of their savings to face unforeseen potentials;
* with full refund: the mutual has the right to recover all the capital contributed once a year of payment has passed, in the same way that its beneficiaries can do so if the first one dies (in this case, an increase of 2% is offered).