:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

STAR UNION DAI-ICHI OFFERS ANNUITY COVER WITH REVERSE MORTGAGE IN TIE UP WITH CENTRAL BANK OF INDIA

Star Union Dai-ichi Life Insurce launched the country's first reverse mortgage loan annuity plan for those above 60 years, in tie up with Central Bank of India.


As per the scheme, when a person approaches the bank for a reverse mortgage loan on house property, the bank, after assessing the value of the property and sanctioning the loan, will approach the insurer and buy an annuity plan for the borrower. The annuity will be passed on to the borrower's account on a monthly, quarterly or annual basis. The instalments will depend on the purchase price, age and whether the insured person opts for a lower or higher lifetime annuity. The borrower will, however, have to pay tax on the annuity received from insurer.

Source: http://www.business-standard.com/india/news/star-union-dai-ichi-offers-annuity-coverreverse-mortgage/380410/

Posted by C.B.O.A., A.P.

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