Have you heard of “buffer annuities?” They’re described as sort of a cross between variable and indexed annuities. Through exposure …
What is an Immediate Annuity?
In an immediate annuity, the investor begins to receive payments immediately upon investing or at a predetermined date in the future. This is for investors that need immediate income from their annuity. When you purchase an immediate annuity you can choose between payments for a certain period of time (typically five to twenty years – “period certain”), payments for the rest of your life or your spouse’s life, or any combination of the two.
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In an expansion of its portfolio of fixed index annuity products, Voya Financial, Inc. (NYSE: VOYA) has just announced the …
In an effort to add more flexible investment requirements and increased income payouts, Lincoln Financial Group (NYSE: LNC) recently announced …
“Immediate Annuities provide income which begins within 12 months of the purchase date. Folks are often concerned with having their funds remain with the insurance company upon their death, and this is only true if Life Only was the type of annuity you bought. This is completely preventable since the choice for which guarantee period to select is up to you!
Installment refund and cash refund are the payout options which guarantee all of your purchase price will benefit you and/or your family with nothing being lost to the insurance company.
The income may be for a certain number of years for the SINGLE life of an owner or the JOINT lives of the owner and their spouse. One point to remember is how joint lifetime income may be selected even when the assets are in the IRA of one spouse.”
Scott M. Sadar, Certified Financial Planner™
Annuity FYI Expert