Press release 10 July 2017
The new ERGO immediate annuity combines a guaranteed pension right from the start - which can increase as a result of surpluses - with the option to make a number of partial withdrawals during the guaranteed annuity period. This provides security as well as flexibility for the insured person for their retirement arrangements.
"The new ERGO immediate annuity is an ideal option for supplementing your private retirement arrangements. It offers an additional financial cushion up to the end of life. It is different from an income plan where the investment is exhausted at a specific point in time" said Michael Fauser, Chairman of the Management Board of ERGO Lebensversicherung AG. "Many people want to be financially independent in their old age. With the ERGO immediate annuity, clients have the flexibility to make withdrawals for unplanned expenses during the guaranteed annuity period. For example, the insured can contribute at short notice to a grandchild's gap year or withdraw money to finance modifications to his or her own apartment so that it is better suited to the needs of older people."
The insured person can also provide financial protection for surviving dependants with the ERGO immediate annuity. They receive the pension for the entire guaranteed annuity period after the death of the insured. An agreement for a survivorship annuity is also possible so that the jointly-insured person receives a pension for his or her lifetime.
With an immediate annuity, after making a single payment customers receive a monthly pension up to the end of their life. The immediate annuity is a good option if, for example, a cash deposit is about to mature or if customers want to invest money from an inheritance in a retirement provision. No medical examination is necessary for the ERGO immediate annuity.
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About the ERGO Group AG
ERGO is one of the major insurance groups in Germany and Europe. Worldwide, the Group is represented in over 30 countries and concentrates on Europe and Asia. Within the group, three entities manage domestic and international business, as well as digital and direct business (ERGO Deutschland, ERGO International and ERGO Digital Ventures). About 44,000 people work for the Group, either as salaried employees or as full-time self-employed sales representatives. In 2016, ERGO recorded a premium income of 17 billion euros and rendered benefits to customers of 16 billion euros. ERGO is part of Munich Re, one of the world's leading reinsurers and risk carriers.
More at www.ergo.com
This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of ERGO Group. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forwardlooking statements or to conform them to future events or developments.