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The table below gives examples of what a $200,000 immediate, lifetime, fixed-income annuity would pay, for annuitants of several ages. The figures derive from a Charles Schwab calculator .
The payouts for immediate annuities depend on whether you choose a life annuity or a term-certain annuity. It also depends on the age and gender of the annuitant, or the person who receives the money.
The type of annuity you choose: Fixed annuity returns are tied to interest rates while variable annuity returns are based on the performance of underlying investments. Types of immediate annuities
A guaranteed annuity or life and certain annuity, makes payments for at least a certain number of years (the "period certain"); if the annuitant outlives the specified period certain, annuity payments then continue until the annuitant's death, and if the annuitant dies before the expiration of the period certain, the annuitant's estate or ...
An immediate retirement annuity is an annuity that is purchased in a single lump sum, and payments on it begin immediately (30 days to 12 months), after the entry into force of the contract (there is no accumulation phase). An immediate annuity is good for turning a large amount of money into a source of permanent income (some kind of pension).
An individual retirement annuity can provide guaranteed lifetime income, making it a potentially useful tool in retirement planning. ... He uses $150,000 of the funds in his IRA to purchase an ...
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