Immediate Annuities

Immediate Annuities Ensure a Steady Stream of Income for Life

Immediate Annuities  With people being able to choose many different paths to good health today, many people are living far longer then they used to, and while this good news, the negative aspect is that these same people are finding out that they are outliving their financial resources.

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The aim of immediate annuities is to empower people to take responsibility for these bonus years by securing a steady income for a long time and in most instances, for as long as they live.

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Payout Annuities start paying out immediately and are very similar to a life insurance policy.  One reason why they are so popular is that as far as taxes go, a portion of what you receive in your monthly payments is principal, and this is not taxable, only the interest you earn.

Lifelong Access to an Income

When you buy these annuities from an insurance company you are guaranteeing yourself a steady stream of income for the rest of your life. The way it works is that instead of paying regular premiums to an insurer and then you getting a lump sum at your death, you give the insurer a lump sum and have regular income payments for a specified time or for as long as your spouse is alive. When you buy a payout annuity you will choose the term of the annuity, whereas a life annuity provides guaranteed income for as long as you live.

A Reputable Insurer Makes Sure Your Money Won’t Run Out

There are many types of annuities; each one with their own set of features and benefits.  Immediate annuities are invested by an insurance company and are of particular interest to those considering retirement, or for any professionals who use them for asset protection.  High fees can wear out an annuity’s performance, and for this reason it is critical to do your research, find a reputable and trusted insurer who will advise you and show you comparisons with other investments.

One thing is for sure, a payout annuity provides peace of mind for anyone who wants to know their money won’t run out long before their time on earth runs out.  Of course people want to know what the amount will be that they receive monthly from an annuity and this depends on the type of annuity you choose as well as the amount you choose to invest, what add-ons you select, and finally how your investment performs.

A Leading Option for Retirees and Professionals

The insurance company will calculate the amount of income they can provide to you each month based on the type of annuity you choose, whether it is fixed, variable or inflation-indexed.  The beauty of a payout annuity is that you always have choices like choosing a fixed and guaranteed payout,  being able to maximize your income immediately or opting rather to accept a lower payout for income that rises with inflation. A reliable and trustworthy insurance broker can provide you with sound answers in your quest to select the annuity best suited to your needs.

Considering an immediate annuity is always a good idea if you are close to retirement age, you don’t have any family support to rely on, you want your spouse to receive a regular payment  once you are no longer there and if you haven’t saved enough to provide sufficient income.

The Security is Greater with Immediate Annuities

Yes, other kinds of investments may be able to yield more for the same amount invested, but they are riskier. Immediate Annuities have stood the test of time, and placed in less risky investments, the security is far greater.

MontRidge Insurance Services have made building retirement plans for customers one of their specialties, and if you are not sure which type of secure retirement fund to choose for you and your spouse, they provide solutions for day to day problems because they care, making use of skilled  planning strategies to meet the goals of their customers.

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