Go Digit enters retirement market as annuities split risk

Customers may retain a fixed floor whilst allocating the remaining share according to index performance.

Go Digit Life Insurance Limited has entered the retirement market with the launch of the Digit Life Pension Plan, a general annuity product offering guaranteed and index-linked variable income options.

The plan introduces two distinct variants: Digit Sukoon and Digit Boss.

Digit Sukoon provides a 100% guaranteed annuity for life without exposure to market fluctuations. 

It includes options for uniform or yearly increasing income, as well as provisions for the return of purchase price upon death, critical illness, accidental disability, or reaching specific survival milestones. Liquidity features such as partial withdrawals and the ability to advance payouts are also available.

Digit Boss combines a fixed guaranteed annuity floor with a variable annuity portion linked to the Nifty 50 Index. 

Customers can select a guaranteed income allocation of 60%, 70%, or 80%, with the remaining proportion variable based on index performance. The policy guarantees a 100% return of premium paid upon death.

Both variants are available under immediate and deferred annuity structures, with deferment options extending up to 15 years.