When we arrive at retirement, we all wish we could simply receive a monthly pay check and keep-up with our hobbies. Imagine a retirement without stress; imagine receiving a constant income stream for the rest of your life. Put it simply, this is what an annuity is.
What is an Annuity?
An annuity is a contract offered by Life Insurance Companies. In exchange of a lump sum of money provided by the investor, the Life Insurance Company guarantees a steady income stream usually paid monthly. In other words; the investor gives the Life Insurance Company his money in return to get a secured pension payment. You can look at the following video for an example:
Unfortunately, annuities could be far more complicated than this video. There are several types of annuities and their characteristics vary greatly from one product to another. This is not to mention the annuity cost where rates of return also depend on several factors.
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Start Your Research Through Those Articles
You can click on any of those articles covering several aspect of annuities.
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Annuity Pitfall and How to Avoid Them
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What an Annuity Contract Look Like
How to Structure Your Annuity
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Annuities and Retirement
Who Can Sell Annuities?