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Investment / Re: Pension Versus Annuity: The Best Retirement Plan by KINGBEN1(m): 7:10am On Sep 03, 2021 |
You did a fine job on the topic.... You misconstrued my topic.... We still have pension v annuity... There some self employed who don't have a cac or not under any name cannot buy a pension plan by law. Pension is compulsory by law but some people are not eligible to buy pension so they can buy a private annuity from an insurance company. I am aware of the types of breakdowns... My topic should have been... Pension( programmed withdrawal or Annuity) versus Annuity (Insurance company based) PapaGfad: 1 Like |
Investment / Pension Versus Annuity: The Best Retirement Plan by KINGBEN1(m): 12:14am On Sep 03, 2021 |
What's the Difference Between a Pension and an Annuity? If you don’t have a pension, an annuity can be a great option to generate reliable retirement income. Long before we had things like smartphones and Instagram, your career typically revolved around a single employer. You worked for one company for decades and then, when you retired, with little to no action on your part, your company would provide you with a pension — payments that would come regularly for the rest of your life, no matter how long you lived. Today, outside of government jobs, pensions are about as common as phone booths. If you don’t have a pension, but the idea of getting a regular payments for the rest of your life is appealing, you may want to consider an annuity. Like pensions, annuities also provide income for life, but they don’t work quite the same. So what’s the difference between a pension and an annuity? WHAT IS A PENSION? A pension is a retirement plan that’s offered through an employer. Pensions are known in the industry as defined benefit plans. With a defined contribution plan, the contribution made by the company is defined — perhaps you contribute 8 percent of your salary and your company/government pays 10% of your contribution according to the Nigeria’s PENSIONS Act of 2014. However, when you get to retirement, it’s on you to decide how you’ll generate income with all the money you saved. With a defined benefit plan, your benefit (how much you’ll get in retirement) is defined. You don’t have to worry about contributions or even how to create the income. Your company will just send you a pay every month. In addition, many pensions will give you options for structuring your payments so that they continue in some form for your spouse after you pass away. You may also be able to take a single lump sum payment from your pension and use the money however you see fit. However, that means you’ll be responsible for generating your income, and you could run out of money someday. Pensions are insured by a Government agency that will try to get you as much of your pension as possible if the company that backs it goes bankrupt. WHAT IS AN ANNUITY? Annuities are financial products built by insurance companies. They come in two main forms: annuities that help you save for retirement and annuities that provide steady income, usually in retirement. For the purposes of this article, we’re going to focus on the ones that help provide income in retirement. They’re known as income annuities. Here’s how it works. You make a payment to an insurance company, often a portion of your retirement savings. Once you purchase the income annuity, the insurance company will make regular payments back to you over time, usually for as long as you live. That means you could live until you’re 110 or older without having to worry about running out of money. As with a pension, once you start receiving income from an annuity, you don’t have to worry about how that income is being generated. The insurance company handles all that for you. it’s a good idea to work with a trusted financial advisor to make sure you get the right annuity for you. As you can see, while there are some differences between pensions and annuities, the purpose of both is the same: to provide steady retirement income that you can’t outlive. If you don’t have a pension and are interested in guaranteed income for life, an annuity may be the right option for you. Income annuities have no cash value. Once issued, this annuity cannot be terminated (surrendered), and the premium paid for the annuity is not refundable and cannot be withdrawn. My verdict: Annuity is the best form of all the retirement plans. Call or Chat me up to get the best retirement plan for you! Benjamin Eyeyeh Retirement Expert WhatsApp 08-03-88-219-35 |
Investment / See An Investment That Powers Your Future! by KINGBEN1(m): 1:50pm On Aug 27, 2021 |
We have the Children University Education plan and the Salary for life plan combined as one! Have you wondered why our pensioners/senior citizens don't queue up again to collect their entitlements. The reason is because our companies are now in charge! Pensions are paid promptly and verifications are now digital and very efficient... Two major things brings down a person financially: 1. Lack of Financial planning 2. Increased responsibility At age 50-60, your two to four children will be talking about University education... Your earnings at that time may not be able to carry this responsibilities together with other expenses. My Company has a plan that caters for your children's university education and pays you salary for life there after... Offering you guaranteed earnings for life. Ask me how... You pay a token now and earn millions yearly for life... Chat Me up now! Benjamin Eyeyeh Retirement expert 0-8-0-3-8-8-2-1-9-3-5 My company is a foremost financial Investment company in Nigeria. It's a PLC regulated and registered under the CBN. In Nigeria since 1963 and also present in 60 countries of the world. |
Investment / The Best Retirement Investment by KINGBEN1(m): 7:17pm On Aug 23, 2021 |
Our SALARY FOR LIFE PLAN/ Special Retirement Plan Let us help you prepare for your retirement. As your retirement age or end of your service years draws closer, you can convert some or all of your pension into our Salary for life plan that will give you guaranteed income for the rest of your life. You will get paid regularly like a salary. There are two kinds of plans to suit your needs. These are: 1. DAP Salary for life plan:- This plan encourages self-discipline by saving for the rainy day. You can determine your earning at retirement and fund it effectively. There is a death benefit of a multiple of 5 times annual earnings payable to your preferred beneficiaries.☘️ 2. IAP Salary for life plan:- This can be taken if you have a bulk sum and want to receive your earnings immediately. This forestalls the risk of frivolous spending and secures a source of income when one is weak until death. This plan also includes the option for a spouse to continue receiving 75% of your benefit after the policy holder’s demise.☘️ Benjamin Eyeyeh Retirement expert WhatsApp 08-03-882-1-9-35 |
Car Talk / Third-party Car Insurance Versus Comprehensive Car Insurance by KINGBEN1(m): 7:14am On Aug 13, 2021 |
Third party Car Insurance versus Comprehensive Car Insurance. THIRD PARTY CAR INSURANCE Important Facts about the Third Party Car Insurance 1. It is referred to as a 'third-party' cover since the beneficiary of the policy is someone other than the two parties involved in the contract (the car owner and the insurance company). 2. It doesn't cover the policy holder directly. In the event of theft or fire damage of the insured car this plan doesn't cover for any of such. The policy does not provide any benefit to the insured. However, it covers the insured's legal liability for death/disability of third-party loss or damage to the third-party property. 3. Usually less than N500,000 total value of cover. 4. Very cheap to purchase. Bought from around N5,000 or less depending on the Insurance company. COMPREHENSIVE CAR INSURANCE 10 Massive Benefits of Comprehensive Car Insurance. 1. In the event of theft of the car, You will get your car replaced outrightly. 2. In the event of complete damage by fire, You will also get your car replaced outrightly. 3. You will get up to N5,000,000 for the property or vehicle destroyed as a result of the accident by the insured Car. N.B. The plan covers every party involved in an eventuality caused by the insured. 4. You get paid 2.5% of your car value when the vehicle is damaged as a result of an accident for repair. 5. You get paid upto N500,000 guaranteed , should there be medical treatments to Passengers and Drivers involved with the insured car. 6. In the event of accident, You get up to N50,000 for loss of personal effects. 7. You get car assessories in the event of accident/theft/vandalism replaced. 8. You get up to N15,000 for hiring other cars for the sake of accident of your car. 9. You get up to N50,000 for towing your car as a result of accident. 10. Our company repair bodily injury of the 3rd party involved i.e. other vehicles hit by your insured car. Act wisely... Chat me up! Benjamin Eyeyeh Insurance, Investment and Retirement Expert WhatsApp 08-03-88-219-35
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Education / Why You Need An Education Policy For Your Child. by KINGBEN1(m): 7:45am On Aug 11, 2021 |
WHY YOU NEED AN EDUCATION POLICY FOR YOUR CHILD. 1. Your Child’s Future is Guaranteed! With or without you in the future. Your goal of the best education for your children is guaranteed. Usually, a Sum Assured is determined and payable at maturity of the plan. 2. Invest little and get Much Technically, you get so much buying a children education policy. For instance, getting as much as 40% yearly ROI on your policy. And so much more. 3. Visa Advantage A proper Children Education Plan has a Visa advantage for your children. Embassies and consulates hold in high esteem Children Education Policies if presented for Visas applications. 4. Rising cost of Education With the rising inflation rates, which has triggered a rising cost of living. Your children’s funds in the policy grow Just as inflation does. Make a wise choice today! Benjamin Eyeyeh Insurance, Investment & Retirement Expert WhatsApp 0803-8821-935 https://docs.google.com/forms/d/1z6KMmyROJjwt9K-MkXKbqgpJ9gurtyG-YkCRP1pQyAU/edit
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Investment / Interesting FACTS About RETIREMENT PLANS That You Probably Didn't Know by KINGBEN1(m): 7:29pm On Aug 05, 2021 |
Interesting Facts About RETIREMENT PLANS That You Probably Didn’t Know 1. A PRE-COVID STATISTICS In Nigeria, eight out of every nine working Nigerians do not have a retirement plan and will retire BROKE! (NBS figures) 2. YOU PAY LESS TAX IF YO U HAVE A RETIREMENT PLAN! Do you pay Taxes? You can reduce how much you pay as Taxes when you sign up for some kinds of Retirement plans. (Ask me how) 3. INFLATION IS NOT A PROBLEM Do you know that some Retirement Savings are computed in Compound Interests. Your investment is guaranteed even in the midst of this strong inflation as the savings grows geometrically. And remember it is salary for life. 4. RETIREMENT PLANS ARE CHEAP & FLEXIBLE You don’t need serious paper works, off course it is easy for Students, Business people, Civil servants, Private company workers etc. Usually for Age 20 to 68. Its flexible because you can pay in any frequencies i.e. annually, semiannually, quarterly etc. There is huge 52% discount when you pay a simple lump sum. 5. IT’S THE NEW OIL From a look at the present realities, In this present era of dwindling ROIs in shares, bonds, Treasury bills etc and embargo on crytos, many Nigerians have resorted to this new oil well and have greatly moved towards this direction as it’s a major avenue to protecting their wealth and earning huge ROIs. 6. RETIREMENT PLANS ARE HIGHLY PROFITABLE Compare what you pay i.e. your annual premiums to what you get at retirement for life. For example, I have a client who paid in a single one off payment of N10,000,000 at Age 40 now and He will be paid N6,000,000 every year for life from age 55 by my firm. And a death benefit of N30,000,000 Is paid to his preferred beneficiary (e.g. His children, spouse etc) if He dies after the plan matures at 55, plus other benefits. 7. MASSIVE DEATH BENEFIT Your preferred beneficiary gets huge death benefits which will greatly put Children, Spouse and Family members back on their feet again. 8. PEACE OF MIND ABOUT THE FUTURE It is very true that Retirement plans gives you focus, rest of mind and ability to invest in other investment plans wholeheartedly. LIMRA, a global financial services and insurance association, found that 50% of workers who have a written plan feel very prepared for their retirement. For Expert advise chat the author. By Eyeyeh Benjamin MSc Investment and Retirement Expert WhatsApp 08-0-38-821-9-35
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Politics / Re: Lady K: How DSS Dehumanise Only Female Among 13 Detained Igboho Supporters - SR by KINGBEN1(m): 9:05pm On Jul 12, 2021 |
Secure your Retirement!
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Politics / Re: Miyetti Allah: South-West Governors Hiding Igboho From Security Operatives by KINGBEN1(m): 7:05pm On Jul 12, 2021 |
Secure the Future! 1 Like 1 Share
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Properties / Property Lawyers Pls Help by KINGBEN1(m): 6:33pm On May 30, 2021 |
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Investment / Re: Buying US Stocks From Nigeria by KINGBEN1(m): 12:28am On Apr 09, 2021 |
Secure the future
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Career / Re: Is It A Good Choice To Quit My Teaching Job Now? by KINGBEN1(m): 2:55pm On Mar 25, 2021 |
Quit now Get more knowledge of the business... Raining season though not good for the business. But start on a low-key by the dry season they should know you by them.... You need a truck in the long run And your location should be a new site |
Investment / Re: Earn 300k Monthly by KINGBEN1(m): 7:08am On Mar 17, 2021 |
Now
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Investment / Re: How To Invest And Get Interest Rates Above Current Inflation Rate Of 12.8% by KINGBEN1(m): 6:50pm On Sep 13, 2020 |
Invest today Click to signup httpss://docs.google.com/forms/d/e/1FAIpQLScgKDiVvEKbDeJ_MOZllZBtnQJAXZwe5FQik0AyoC2YYVX9dA/viewform?usp=pp_url
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Investment / Re: AIICO Announces Commencement Of Rights Issue - Nairametrics by KINGBEN1(m): 7:23pm On Sep 03, 2020 |
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Investment / AIICO Announces Commencement Of Rights Issue - Nairametrics by KINGBEN1(m): 7:16pm On Sep 03, 2020 |
AIICO Announces Commencement of Rights Issue. AIICO Insurance has continuously demonstrated its resilience and capacity to stand the test of time. AIICO Insurance Plc, a leading Insurer in Nigeria, is taking another giant leap forward in its recapitalization journey with the launch of its N3.5bn rights issue, which opens on Wednesday, September 2, 2020 and will run through to Wednesday, October 7, 2020. As part of the rights issue, 4,357,770,954 ordinary shares of Fifty Kobo (N0.50) each at Eighty Kobo (N0.80) per share, are being offered on the basis of five (5) new ordinary shares for every thirteen (13) ordinary shares held as at the close of business on Monday, June 15, 2020. The Company’s shareholders now have the opportunity to increase their stakes and reposition themselves in a Company with excellent prospects. The Rights Circular is now available for download on the Company’s website at www.aiicoplc.com and the Registrar’s website at www.unitedsecuritieslimited.com. “A greater future beacons for all our stakeholders, including shareholders and customers, as this exercise will unlock greater potentials for value creation both in the short and long term. It will see the Company emerge stronger and with greater capacity to underwrite more risks,” stated Mr. Babatunde Fajemirokun, the Managing Director and Chief Executive Officer of the Company. AIICO Insurance has continuously demonstrated its resilience and capacity to stand the test of time, given over 5 (five) decades of doing business in Nigeria. This is one of the reasons why the Company has remained investors’ choice and stands to maintain its frontline position post-recapitalization. AIICO Insurance is a leading composite insurer in Nigeria with a record of accomplishment of serving its clients that dates back over 50 years. Founded in 1963, AIICO provides life and health insurance, general insurance, investment management and pension management services as a means to create and protect wealth for individuals, families and corporate customers. Segun Olalandu Head, Strategic Marketing & Communications https://nairametrics.com/2020/09/02/aiico-announces-commencement-of-rights-issue/
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Business / Re: In What Business Can I Invest #1,000,000 And Get A Profit Of #4,000 Daily? by KINGBEN1(m): 6:31pm On Aug 22, 2020 |
Olutola88: https://docs.google.com/forms/d/e/1FAIpQLScgKDiVvEKbDeJ_MOZllZBtnQJAXZwe5FQik0AyoC2YYVX9dA/viewform?usp=pp_url It's the AIICO FLEXIBLE ENDOWMENT BUNDLE PLAN Thank you Let me know your reservations... 1 Like
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