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 is an insurance policy?
Life insurance provides you financial help against possible loss due to death, illness, incapacity, or accident, and this protection is provided through an insurance policy that accumulates financial funds for such situations.
Which are the minimum hours that I could he hospitalized to be covered under Hospipago Policy?
You should stay in the emergency room for at least 24 hours. The minimum length of stay will start to be covered once the hospital orders it.
Where can I settle the claim as a member of the Cooperative that acquire an insurance?
You should settle your claim at the Cooperative of Saving and Credit, where you obtain your policy.
What should I do to add a beneficiary to my COSVI policy?
To designate a beneficiary, all you have to do is fill out the Request to Add Beneficiaries document and send it in original format by regular mail to: Cooperativa de Seguros de Vida de Puerto Rico, COSVI Attention Issuance Department PO Box 363428 San Juan, P.R. 00936-3428 You can also bring it to any of our offices or send it by email to serviciosalcliente.documentos@cosvi.com.
To whom the Funeral benefits are paid and what documents I must give?
The benefits paid to the person who incur expenses and that presents a copy of birth certificate, death certificate and receipts of expenses of the funeral.
Why is important to have a Life and Health Insurance?
Life insurance may help protect your family in case of an eventuality because it forms part of the necessary financial planning. Offers funds for expenses related to your death serves as a savings instrument for the failure.
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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