immediate annuity


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immediate annuity

n
(Banking & Finance) an annuity that starts less than a year after its purchase. Compare deferred annuity
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If those expenses exceed what you expect to get from Social Security and traditional pensions, consider buying additional guaranteed income by purchasing an immediate annuity. Unlike other types of annuities that can be complicated and expensive, an immediate annuity can provide a stream of income for life in exchange for a single lump-sum payment upfront.
MANAMA: Bahrain-based insurer LIC International is in the process of introducing Fortune Plus unit-linked plan, immediate annuity and deferred annuity pension plans in the market to strengthen and diversify the product portfolio.
Fidelity Investments[R] has announced the addition of IncomeSource[R], a Single Premium Immediate Annuity underwritten by two Western & Southern Financial Group ("Western & Southern") member companies, to the Fidelity Insurance Network[R], the company said.
Insurers will continue to offer built-in annuitization features and optional annuitization features, and they may also offer more stand-alone immediate annuity products to plan members, Lake said.
for a single life immediate annuity. In return, ABC promises to send Greg a check for $500 each month for as long as he lives.
A medically underwritten immediate annuity will provide a guaranteed income stream to help cover retirement and long-term care expenses for life.
An immediate annuity allows the client to begin receiving annuity payments immediately (or very shortly after the contract is purchased).
- Immediate annuity: The investor gives the insurer a lump sum in return for a set rate of return and regular income payments until death, or for a specified period.
Genworth (NYSE: GNW) has launched the IncomeAssurance Immediate Need Annuity, a single premium immediate annuity that provides a lifetime of monthly income payments for older, less healthy Americans, the company said.
24| Annuitization functions similarly to an immediate annuity.
If your client needs income immediately, suggest an immediate annuity that allows instantaneous access to funds.
The FAB also considers the duration of a plan fiduciary's monitoring duty in the context of two factual examples, the first involving an immediate annuity and the second a longevity annuity option that does not begin providing income until a specified date that is 10 to 15 years after retirement).