Single Premium Immediate Annuity
An individual annuity contract, which can only be paid in one lump sum, with monthly rent starting 12 months or before after the only payment is deposited.
Product summary
Individual plan
Is a contract through which you make a single payment, and you can start receiving monthly rent within 12 months of the one-time payment.
Benefits
- Exempt contribution (IRS Discounts)
- Savings Instrument
- Income Retirement, Accumulation
- Complements benefits of a Retirement Plan and your Social Security.
- Guarantee monthly payments to meet specific bills (Ex. Medical Plan).
Contract dispositions
- Initial deposit of $300.00
- Partial annual withdrawals are allowed without a 10% penalty on your accumulated balance.
- The rented should be minor to 85 years of age when annuity is established.
- No age limit to receive start receiving benefits.
- The owner or renter designated the beneficiary's form of payment (distribution)will be distributed globally 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 should I do if I want to reinstate my cancer policy or other type of Supplemental Insurance?
You just have to fill out the Reinstatement Application and send it in original format, with two payments of the premiums owed by regular mail to: Puerto Rico Life Insurance Cooperative, COSVI Attention Issuance Department PO Box 363428 San Juan, P.R. 00936-3428 You can also deliver it to any of our offices or through your authorized insurance agent.
Who can be the beneficiary of my life insurance?
You can designate as a beneficiary any natural person or any legal person, him or she being a legal beneficiary or not.
What should I do to solicitate withdrawals from my IRA account?
All you must do is complete the application to withdraw from My IRA and comply with the delivery of the required documents depending on your circumstances at the time of withdrawal. The formality may be advanced via taxes, but because of the requirements of the Secretary of Treasure and these types of transactions, the original documents are required for the delivery of the disbursement you can advance the process by sending your copies to fax at 787-772-4191.
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.
How can I convert my payment in a recurrent one?
To change your payment to a recurrent one, you should fill out a bank card form, select the day you which realize the order, which are 1, 7, 14 and 21 and the payment frequencies wish as monthly, quarterly, semestral, or annual.
Who are under the coverage of Directors Insurance?
Only the employees and the Board of Directors. You can also include committee members, advisors, and consultants. The group decides when they are going to cover, but it is a requirement that the Board of Directors is covered to issue the policy.
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.
What our clients are saying
Look what are insured have to say about our policies and our services.
I was treated very kindly and promptly.
Very well located and a wide variety of insurance products.
Good service, I won't let them.
Tremendous company. It is by appointment, at the moment, they are very helpful and fast, you do not waste time. Make an appointment by phone and that's it!!! Good service.
Excellent customer service.
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