Sentences with phrase «lifetime immediate income annuity»

Thus, the only type of annuity that allows the insurance company to keep the undistributed balance of the investment when the owner passes away is a lifetime immediate income annuity account with no period certain.

Not exact matches

Fortunately, the type of annuity you're asking about — an immediate annuity — is (by annuity standards at least) the easiest to understand and, to my mind the type with the greatest potential for helping people who want more guaranteed lifetime income than Social Security alone will provide.

The immediate pay fixed annuity, if you simply need lifetime income and need to convert a savings or certain amount of money into a stream of income, rather than a holding of savings, and for life.

And, in fact, lots of research shows that while people like the concept of lifetime income, they're not nearly as keen about buying immediate annuities.

Economists love immediate annuities — aka income annuities — because they're an efficient way to turn savings into lifetime income.

And to see how much lifetime income an immediate annuity might provide, you can go to the How Much Guaranteed Income Can Yoincome an immediate annuity might provide, you can go to the How Much Guaranteed Income Can YoIncome Can You Get?

If, on the other hand, your Social Security and any pension payments fall well short of covering your essential expenses, then you might want to consider closing or narrowing that gap by devoting some, but not all, of your nest egg to an immediate annuity that can generate additional lifetime income.

Michael Kitces @ Nerd's Eye View writes Solving The Annuity Puzzle — Inflexibility For Handling Potential Health Care Shocks In Retirement — Economic theory suggests most retirees should utilize immediate annuities for lifetime retirement income, yet very few actually do.

If you decide that putting a portion of your savings into immediate annuity in return for lifetime income is the right choice for you, then the next step is identifying an annuity (or annuities, as the case may be) that can provide the right combination of income and security.

Similarly, if your nest egg is large enough so that your chances of running through it in your lifetime are very low or negligible, then you also may not need any type of guaranteed income beyond Social Security, in which case you simply may not have to devote any of your assets to a longevity annuity or an immediate annuity.

Bottom line: If you would like to have a reliable source of lifetime income beyond what you'll get from Social Security, it makes sense to at least think about putting some (but not all) of your savings in an immediate annuity.

A 65 - year - old man who invests $ 100,000 in an immediate annuity would receive about $ 565 a month in lifetime income; a 65 - year - old woman would get about $ 545; and, a 65 - year - old couple (man and woman) would receive about $ 480.

Of course, despite research showing that immediate annuities are an excellent way of generating lifetime income, many people want nothing to do with them.

The upshot, though, is that unless you're willing to take on more investing risk — which also means accepting the possibility of running through your money while you're still alive — it's very unlikely that you can match an immediate annuity's guarantee of lifetime payments, which includes that extra bit of income that mortality credits provide.

But if you've rejected an immediate annuity because you think you can generate the same level of guaranteed lifetime income investing on your own, I have two little words for you: mortality credits.

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.

Life only annuity — This option ensures that the immediate annuity will provide guaranteed income over the lifetime of an individual.

But if lifetime retirement income is your goal, I think your two best choices are an immediate annuity or a longevity annuity.

But for anyone who's retired or approaching retirement looking to turn a portion of their nest egg into guaranteed lifetime income, I believe the choice comes down to two types: an immediate annuity or a longevity annuity.

If you're really worried that you might run through your savings while you've still got a lot of living to do, you could also think about converting a portion of your nest egg to a guaranteed lifetime income stream via an immediate annuity or a longevity annuity.

Indeed, immediate variable annuities are an odd beast: As with an immediate fixed annuity, you hand over a lump sum to an insurance company in return for lifetime income.

And if you decide that you would like more guaranteed lifetime income than Social Security alone will provide, you can always consider converting a portion of your nest egg to an immediate annuity in return for lifetime monthly payments.

Over the years, I've seen all sorts of guidelines and estimates for how much of their nest egg retirees ought to devote to immediate annuities that turn savings into reliable lifetime income, with some suggestions as low as 25 % and others upwards of 80 % or more.

Investing a portion of your assets in an immediate annuity can provide additional guaranteed lifetime income, giving you more flexibility for making withdrawals from savings.

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.

Among the issues you'll need to consider as you create an income plan: How much you'll receive from Social Security and whether you should you consider delaying claiming your Social Security benefit to boost the size of your check; how much of your nest egg's value can you withdraw each year without incurring too big a risk of running out of money before you run out of time; and whether you should devote a portion of your savings to an immediate annuity or a longevity annuity, so you'll have a another source of guaranteed lifetime income in addition to Social Security.

In return for the guarantee of lifetime income you also typically give up access to your principal, which means you would no longer be able to dip into the money you invest in an immediate annuity for emergencies and such.

If you feel you'd like more guaranteed lifetime income than you'll already receive from Social Security and any pensions, you could put a portion of your savings into an immediate annuity.

There are many kinds of annuities out there, but there are two types that I think make the most sense for retirees looking to convert a bit of savings into a lifetime income stream: immediate annuities, which as their name implies, begin making payments immediately; and longevity annuities, which start making payments in the future, sometimes 10 or 20 years down the road.

Enter your age, gender, how much of your savings you want to invest and when you want to start receiving payments and this calculator will show you how much lifetime monthly income you can receive from an immediate annuity or a longevity annuity.

A longevity annuity is similar to an immediate annuity in that you give an insurer a lump sum in return for a guaranteed lifetime income stream, except that you don't begin collecting that income until some point in the future, say, 10 or even 20 years later.

By buying an immediate annuity, a type of investment that's specifically designed to turn a lump sum into guaranteed lifetime income.

An SPIA — or a single premium immediate annuity — create instant income during retirement through taking a lump sum of money and converting it into regular payments that continue for a specified period, or for the lifetime of the insured.

One key finding is that retirees can take advantage of immediate annuities» guaranteed lifetime income while investing less money upfront if they're willing to adjust their spending and withdrawals from the rest of their savings throughout retirement based on how the financial markets are performing.

· Guaranteed Lifetime Income — Receive a secure contractually guaranteed lifetime income stream using a single premium immediate Lifetime Income — Receive a secure contractually guaranteed lifetime income stream using a single premium immediate anIncome — Receive a secure contractually guaranteed lifetime income stream using a single premium immediate lifetime income stream using a single premium immediate anincome stream using a single premium immediate annuity.

There is also an immediate annuity available that will «reset» your lifetime income payment 5 years after the contract issue date if interest rates have drastically moved up during that time period.

There are different types of income annuities you may consider: an immediate income annuity, a deferred income annuity, or a fixed deferred annuity with a guaranteed lifetime withdrawal benefit (GLWB).

Annuity arbitrage tries to accomplish the same goal with the simultaneous purchase of a life insurance policy and a single premium immediate annuity (also known as a lifetime income annuity) on the same person, but from different carriers.

Life only annuity — This option ensures that the immediate annuity will provide guaranteed income over the lifetime of an individual.

Kotak Lifetime Income Plan is an immediate annuity plan.

The immediate need annuity product from Genworth offers a lifetime stream of income, which can help to alleviate the worry of running out of income in retirement.

An SPIA — or a single premium immediate annuity — create instant income during retirement through taking a lump sum of money and converting it into regular payments that continue for a specified period, or for the lifetime of the insured.

With a LifeSource Plus ® single premium immediate annuity, you can convert a portion of your assets into a steady stream of income for a lifetime.

Despite the fact that one research paper recently found Americans are more afraid of outliving their money during retirement than death itself, and economics research has long since shown that leveraging mortality credits through annuitization is an «efficient» way to buy retirement income that can't be outlived, the adoption of guaranteed lifetime income vehicles like a single premium immediate annuity purchased at retirement remains extremely low.

· Guaranteed Lifetime Income — Receive a secure contractually guaranteed lifetime income stream using a single premium immediate Lifetime Income — Receive a secure contractually guaranteed lifetime income stream using a single premium immediate anIncome — Receive a secure contractually guaranteed lifetime income stream using a single premium immediate lifetime income stream using a single premium immediate anincome stream using a single premium immediate annuity.

Kotak Lifetime Income Plan: It is an immediate annuity plan that provides assurance of iIncome Plan: It is an immediate annuity plan that provides assurance of incomeincome.

· Is a non-linked, non-participating immediate annuity plan that ensures guaranteed lifetime income for your needs.

An immediate annuity provides income to the purchaser that starts as soon as they deposit a lump sum and the payments last for the lifetime of the purchaser or for the lifetime of the purchaser and his or her spouse (or joint annuitant) or for some set amount of time (5, 10, 20 years).

Aviva Annuity Plus is a non-participating, non-linked single premium immediate annuity plan that is designed to provide you the guaranteed lifetime income after your retirement.

Apart from providing a guaranteed income for one's lifetime, this immediate annuity plan has the options to extend annuity (pension) to the spouse too.