Flexible Annuity Premium
Individual annuity contract that can pay the premium amount he or her wishes.
Product summary
Individual plan
A flexible annuity premium is an alternative where you can pay your preferred premium and the account will remain active if you maintain the contractually required minimum balance.
The initial minimum payment is $300.00. On the due date, you may opt for different forms of payments. The interest is effective for one year and receive a minimal guarantee for the validity of the contract.
Benefits
- Tax-Free Contribution (IRS) Savings Facility Supplements the accumulation of retirement income for retirement planning and Social Security.
- Provide monthly income until you start receiving benefits from your retirement plan or Social Security.
- Guaranteed monthly payments to meet specific bills. (Ex. Medical Plan).
Contract dispositions
- Initial deposit of $300.00
- Partial withdrawals are allowed each year without a 10% penalty on your accumulated balance.
- The renter should be minor than 85 years of age when the annuity was established.
- This is not the minimum age to start receiving benefits.
- The owner or renter should designate his beneficiaries.
- If the person does not designate a form of payment (distribution) will be distributed global sum.
Payment methods
These are the payment methods available to purchase your plan.
Frequently asked questions
We leave you some of the most frequently asked questions about our plans
What if I want to purchase an additional cover?
You can contact the Life Insurance Cooperative of Puerto Rico, COSVI at 787-751-7373 where an Authorized Representative will guide you on the insurance policies and endorsements that we have available. You can also contact your insurance agent directly.
To whom are the benefits paid of the Cancer and Pernicious illnesses?
The benefits of the policy are paid to the primary insured. In his absence will be paid to the owner of the policy, to your beneficiaries, if they were designated, or to your heirs. Funeral benefits will be paid to the person who provides satisfactory evidence that he paid for the funeral, so long as he dies of illness.
How can I establish an automated pay on my account?
To set up an automatic payment, you should complete a card bank form, which should be accompanied by a voided check or proof from a financial institution.
The treatment in case of a positive cancer diagnosed, can it be out of Puerto Rico?
Yes, our Total Alliance policies offer you coverage of treatment out of Puerto Rico.
How effective is a cancer insurance?
The insurance is in effect 30 days from the date of the application.
Can a person buy a cancer and pernicious illness policy a person that has had a cancer diagnosis?
Yes, they are eligible if they had not received any treatments in the past 10 years, and it doesn’t happen within the first 30 days of the policy and the date of effectiveness.
Steps to acquire your insurance
In just three steps, you can get the policy you are looking for.
Initial Consultation
In your initial orientation appointment, the objective is to establish good relations hear youcarefully and make adequate questions to know which you are needs a free consultation.
Evaluation
Depending on your needs, we evaluate the different products beneficial for you.
Presentation
Besides your resume, we will continue to evaluate all information provided to recover your situation and confirm your needs. We propose an action plan that identifies and explains different products and alternatives that meet your needs. If you agree with our recommendations, we help you get the product.
Orientación Inicial
En la cita inicial el objetivo es establecer una buena relación, escucharle detenidamente y hacerle las preguntas adecuadas para saber cuáles son sus necesidades.
Evaluación
Dependiendo sus necesidades, se evaluarán los diferentes productos de mayor beneficio para usted.
Presentación
Además, de resumir la situación, confirmar sus necesidades se procede a evaluar toda la información provista, se presenta un plan de acción en el que se identifican y explican los diferentes productos y alternativas que satisfagan sus necesidades. Si usted está de acuerdo con las recomendaciones, se le ayuda adquirir el producto.
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