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Deffered Annuity

This is an annuity policy taken by a proposer for the purpose of getting payments upon retirement or at some other specified future date. The annuity plan allows policy owners to save towards a deferred income. It is also an avenue for employees or self-employed individuals to regularly accumulate money during their active days to guarantee regular streams of income later in life.

Custodian deferred annuity provides for retirement age at 50, 55, 60, 65, 70 and 75.

There are two (2) phases for deferred annuity:

  • Accumulation Phase: this is the period the annuitant is regularly paying his premium. It is usually during the deferred period
  • Distribution (Pay Out) Phase: this is the period the annuitant receives regular monthly or quarterly annuity (payments) for the rest of his life or as specified by the policy

The commencement of annuity is deferred to a certain age. Premiums are payable during the deferred period (i.e. Accumulation phase). On attainment of that age premium payment stops and annuity payment commences.


  • Income is payable for life
  • Annuity payment for the guaranteed period of 5 years and thereafter for life of the annuitant
  • Regular payment is by standing order and on an online, real times basis
  • Annuitants are assured of regular income for life
  • Annuity Escalating options at 5% and 10%
  • Additional death benefit which is 5 times the annual annuity (Optional)
  • Longevity risk
  • Provision of income for dependents
  • Investment risk is passed to the life office