A variable annuity purchased with an optional guaranteed lifetime withdrawal benefit provides a guaranteed stream of income for life. (brighthousefinancial.com)
Sometimes it will also be necessary to verify this income will continue for at least three years because some pension or retirement plans do not provide income for life. (cefcu.com)
As a result, you'll have more disposal income for your living expenses, or to funnel towards saving for retirement, college tuition, or whatever goals are important to you. (mortgageloan.com)