Here is a snippet from a very good U.S. News & World Report article by Jeff Brown on Deferred Income Annuities, also called Longevity Annuities.
“Imagine if you could set aside $125,000 in retirement savings and have it produce more than $60,000 in annual income. Ordinarily it would take a lifetime of investing gains to achieve that, but a 65-year-old could manage it in 20 years, guaranteed, with a deferred-income annuity.
Also called longevity insurance and longevity annuities, these are insurance products meant to begin paying income years after they are purchased, providing income for retirees late in life…”
In the article, AnnuityAdvantage CEO and Founder, Ken Nuss, is quoted regarding the many benefits of Deferred Income Annuities.
If you are concerned about the possibility of outliving your assets, be sure to check out this link to the full article: Deferred-Income Annuities Are an Option for Late-Life Income
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