AARP Annuity Products
In order to amass the amount of money that is needed to live comfortably during your retirement, it is important that your retirement fund generates the maximum amount of earnings possible. By purchasing a life annuity, you have the opportunity to place your hard-earned retirement dollars into a financial vehicle that offers steady income and a prevailing rate of return.
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How a Life Annuity Can Help You
Many individuals are genuinely concerned with the amount of money they have saved over the course of their lifetime and whether their nest egg will be sufficient to have the retirement they had always hoped for. It is important that your monthly expenses and needs be met without difficulty. With a life annuity, you can acquire a financial asset that provides you with adequate income for the duration of your retirement years.
Overview of a Life Annuity
An insurance company structures and issues an immediate annuity upon receiving a lump sum premium and entering into agreed-upon terms. The insurer will then disburse the annuity payments, which are made up of a fixed rate of return and a set repayment schedule. The payments are issued until the maturity date.
Things to Consider When Buying an Immediate Annuity
Before purchasing a life annuity, you must determine how much money you can afford to direct into this type of financial vehicle, as well as the frequency of annuity payments that you need in order to meet your ongoing financial obligations.
Insurance companies that offer these types of financial vehicles can supply you with a variety of options, including structuring the annuity as monthly, biannual or annual installments for the rest of your life. Each option will have a varying effect on how your annuity is structured. By turning to an experienced annuity professional, you can find out how much you will receive each month, as well as the recurrence and duration of your payments.
We had heard about annuities and were investigating them for our IRAs. We also heard bad things about pushy brokers over the years. So when we went to the ImmediateAnnuities.com site we were skeptical about calling them. But whenever we called their staff was really friendly. They answered all our questions and one of their reps even told us that at our ages there was no advantage to buying the annuity with our IRAs. These guys are really honest!
Strength and Credit Rating of the Issuing Company
The reputation, credit rating and strength of the issuing company are crucial when you are considering the purchase of a life annuity. A positive ranking demonstrates a company's ability to provide a customer with a steady income stream. An issuer that has a strong credit rating with Moody’s, Standard & Poor’s or A.M. Best, is the better choice. New York Life is a well-known insurance company that regularly engages in these types of financial vehicles.
Using an Experienced Professional
At TotalReturnAnnuities.com, we are committed to providing our clients with access to the quality life annuity products that are currently available on the market. Feeling safe and secure during your retirement years can come to fruition when you work closely with a skilled professional you can trust.