Not exact matches
When insurers set payment levels for an
immediate annuity, by contrast, state regulators require that they set aside reserves to
assure they can make scheduled payments even if their actuaries» and investment analysts» projections are off.
If you think you'd like more
assured income, consider an
immediate annuity.
But if you want more
assured income than Social Security alone can provide, then putting a portion of your savings into an
immediate annuity may make sense.
But if you really want to turn a portion of your nest egg into something that approximates a pension — a specific amount of money you can count on month in and month out for the rest of your life — then I suggest you suspend your wariness about
annuities long enough to at least consider a type of
annuity that's easier to understand, less prone to the abuses that are too often associated with
annuities and is very efficient at turning savings into
assured lifetime income — namely, an
immediate annuity.
Assuming the idea of getting more
assured income with an
immediate annuity appeals to you, you still don't want to put all, or even most, of your savings into one.
Given the number of uncertainties involved in trying to estimate a sustainable level of retirement spending — how the markets will perform, how long you'll live, what your actual expenses will be (although on that score, doing a retirement budget can help)-- you might also consider turning a portion of your nest egg into income
assured to last no matter how long you live and regardless of how the markets fare by investing in an
immediate annuity or longevity
annuity.
The idea is that by opting for a longevity
annuity rather than
immediate annuity, you get to hold onto more of your assets now, but still have those
assured payments coming in down the road.
Just another reason I think combining a plain - vanilla
immediate annuity with a portfolio mutual funds or ETFs is a better way to go if you want
assured lifetime income and growth.
But if you want more
assured income than Social Security alone will provide, it makes sense to at least consider an
immediate annuity.
In retirement, throwing an
immediate annuity into the mix can even make sense if you want more
assured income than Social Security alone will provide.
But if your Social Security payments fall well short of providing you with sufficient
assured income to cover basic expenses — or, if you just prefer the emotional comfort of having a larger cushion of guaranteed income — then you may want to consider devoting a portion of your savings to an
immediate annuity.
The
immediate annuity Plan is some other famous coverage plan from Future Generali and offers a fixed,
assured earnings after the stop of the premium term.
We at Bajaj Allianz Life Insurance understand this need of maintaining a lifestyle even after retirement and offer a group
immediate annuity plan that provides
assured regular income (pension) to your member after his / her retirement.
In case of life
assured surviving till vesting date, fund value is compulsorily be utilised to provide an
annuity based on the then prevailing
immediate annuity rates under the relevant
annuity option.
Death after first five policy years: Provided the policy is in full force, Basic Sum
Assured along with accrued Guaranteed Addition, Vested simple Bonuses and final additional bonus, if any, shall be paid as lump sum or in the form of an
annuity or partly in lump sum and balance in the form of an
annuity to the nominee / legal heir at the then prevailing
immediate annuity rates.