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cy.
Health ins : against risk incurred in medical expenses.
covers cost of medical & surgical expenses
Types : private & public health ins
private- offered by commercial org. has group & individual plans
publi- are callled 'entitlement' programs, sponsored by govt
USA: TRICARE, India: RSBY, U?K: HNS
Annuities : contract to obtain returns @ regular disbursements
They are retirement savings. Priod before accumulation is accumulation period.
Types of Annuities: fixed, variable. immediate, deferred, immediate, deferred
fixed- fixed return, variable- varies with investment
immediate- lumpsum deposit is given in series(SPIA)
deferred- payouts are delayed(SPDA)