What are deferred annuity plans?

Deferred Annuity plans are insurance schemes where a portion of your income is deferred till the vested or retirement age. You can accumulate a corpus via regular premiums or single premium payment over the term of the policy. At the end of the term, pension payouts start. There is no tax on investment unless it is withdrawn. Deferred annuity plan has tax benefits and is suitable for all types of investors