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).