Product description
It is an insurance through which an insurer, upon receiving a lump sum in payment, guarantees a stable monthly income to a person or group of people, while they remain alive or according to the years contracted by the insured.
This is a product that is not exclusive for those people who are part of the Colombian Pension System but who wish to receive an income for reasons such as:
- Cover pension gaps
- Receive an additional allowance to pensions
- Have not paid enough in the system so they will not receive a pension by law.
Unlike other insurance policies, the conditioned or general conditions are determined by law and must be the same in all companies that their approval. They are irrevocable policies.
Coverages
- The insurer determines according to the initial capital delivered the amount of the allowance in such a way that it guarantees the pensioner and / or pensioner and their beneficiaries for life for that pension.
- The monthly value of the allowance is a fixed value that increases with the Consumer's price index annually.
- The risk of Extralongevity is assumed by the Insurer
- Funeral Assistance assumed by the insurer
- The risk of interest rate or change in the composition of beneficiaries among others is the responsibility of the insurer that issues the policy
How can it be obtain?
To quote it is necessary to have the following information:
- Name
- Id Number
- Birthdate
- Date of Birth of the Spouse or permanent companion
- Date of Birth of Children under 25 years of age or disabled at any age.
If you are a worker next to obtain your annuity, additional information is request:
- Amount of the balance of the individual Savings Account
- Amount of the Pension Bonus (if it exists)
If you have an Annuit:
- Amount of the pension allowance
- Amount of the balance in the Individual Savings Account
