Sentences with phrase «into guaranteed monthly income»

And AARP's immediate annuity, which converts a lump - sum payment into guaranteed monthly income for lifelong, generates a lesser payment stream than an investor 75 or younger might get elsewhere.

An annuity is an insurance product that converts your savings into a guaranteed monthly income.

Not exact matches

Well, when you invest a portion of your savings in an immediate annuity, you are converting assets into monthly income guaranteed to last as long as you live.

Guaranteed Retirement Income Options — You may elect to convert your contract value into a stream of income using one of several available options, including an income option that provides monthly payments forIncome Options — You may elect to convert your contract value into a stream of income using one of several available options, including an income option that provides monthly payments forincome using one of several available options, including an income option that provides monthly payments forincome option that provides monthly payments for life.

Annuities certainly aren't for everyone, but generally I think people who feel they need more guaranteed income than Social Security alone can provide should consider putting some (but not all) of their savings into two types of annuities that are relatively easy to understand and evaluate: immediate annuities, which convert a lump sum of savings into monthly payments that begin immediately, and longevity annuities, which allow you to convert an investment now into payments that will start later, say, 10 or more years down the road.

On death during the policy term, the nominee will receive a guaranteed lumpsum payout with an option to convert it into monthly income for 10 years.