Income Provider
Peace of mind during Retirement
This product is designed specifically for retirees who wish to utilize retirement lump sum money to buy an annuity.
Income Provider is otherwise known as a "compulsory annuity". Income Provider pays a monthly pension during the lifetime of the retiree. You can choose from either of two types of annuity:
Peace of mind during Retirement
This product is designed specifically for retirees who wish to utilize retirement lump sum money to buy an annuity.
Income Provider is otherwise known as a "compulsory annuity". Income Provider pays a monthly pension during the lifetime of the retiree. You can choose from either of two types of annuity:
- Income Provider without capital preservation:
Although your annuity is payable for life, you may wish that your annuity has a guaranteed period of payment, so that if you die before the expiry of the guarantee period, your pension will continue until the expiry of the guarantee period. - Income Provider with capital preservation:
Your annuity is payable for life and when you die the capital (initial sum) you paid to UBA Metropolitan Life to purchase your annuity will also be refunded to your beneficiaries.
Optional Benefits :
- Death Premium Waiver Benefit
If you choose to add this benefit, UBA Metropolitan Life will waive all future due premiums under the policy if the premium payer dies before the maturity date. - Disability Premium Waiver Benefit
If you pay monthly or annual premiums, you can add this benefit to your policy and UBA Metropolitan Life will waive all future due premiums under the policy in the event that the premium payer (policyholder) becomes permanently disabled.. - Cash Benefit
This is a regular premium, unit-linked investment. When added to the Policy (Provider), it provides an easy accessible "cash account", allowing frequent withdrawals subject to a few simple rules
