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Immediate Annuities Offer Instant Guaranteed IncomeMany individuals first impression is that it sounds too good to be true – an income stream that you can’t outlive? The truth is that immediate annuities can be an appealing solution for those who worry about outliving their retirement savings. Single premium immediate annuities (SPIAs) are a great way to ensure that your longer life is adequately funded. Unfortunately, traditional retirement savings are not infinite; you run the risk of outliving your nest egg. Social Security pays you a monthly income for life, but often the amount you receive is not enough to cover all your expenses. Immediate annuities can enhance your income while offering you the peace of mind of guaranteed income for life. An immediate annuity is offered as a contract between you and an insurance company. In return for a principal deposit, you receive monthly payouts. There are many ways to structure an immediate annuity; each enhancement, while lowering your monthly payout amount, provides you with additional benefits. A popular enhancement for those with spouses or partners is to add a joint and survivor life option. With this enhancement, payments will continue to the surviving spouse after either of the policy holder’s deaths. You can also choose a guaranteed set period of time for your payments – for example 10, 15 or 20 years. If you die within this period certain time frame, the remainder of your payments are made to your named beneficiary. Also available are Cost of Living Adjustment (COLA) riders that you can add to your immediate annuity, where the payments increase by a percentage annually to allow for inflation. Immediate annuities can be purchased with any amount, with the minimum usually being $10,000. Why not consider this excellent retirement planning tool? The Specialists at AnnuityAdvantage.com can work up an immediate annuity quote for you and calculate how much your monthly payments will be. Call them at 1-800-239-0356 for a free personalized report on the immediate annuities and options available to you.
¹ First year yield/rate reflects fixed rate plus premium bonus or interest rate enhancement. Interest is based on current rates and subject to change without notice.Send email to
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