Life Annuities - An integral part of your retirement plan
Guaranteed Income For Life.
Life annuities provide you with a regular income paid at selected intervals for the rest of your life, regardless of what age you live to. Payments can be monthly, quarterly, semi-annually or annual. The payment amounts can be level for the remainder of your life or can be indexed at a pre-selected rate. It is possible to lock-in a ’guaranteed period’ which would guard against loss of assets in the event of early death. Several factors, including current interest rates, are considered when an annuity income is calculated, and as a result, once you buy a life annuity you are locking this interest rate in for the entire payment period. Life annuities can be paid with pension funds.
- Single Life Annuities. These will pay you an income at the selected intervals for as long as you live. The income will cease at your death.
- Joint Life Annuities. This type of annuity will pay income to you and your spouse - for life. The income payments will stop at the second death.
- Guarantees. Although all life annuities will pay an income to you for the remainder of your life, this income will cease at your (or the joint annuitants) death. In order to protect you against a substantial loss in the event you purchase an annuity and die within a short period of time, you can add a minimum guarantee to the payment period. This can usually be 5, 10, 15, or 20 years or until a specific age. The maximum guarantee period however can not exceed your age of 90.
At The Best Rates, from ProfessionalReferrals.net.
Our advisors can answer your questions, advise you on your annuity choices and provide you with the most competitive Life Annuity quotes, without charge or obligation.
