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Fixed annuities are considered the safest type of annuity because their returns are tied to a specific rate, usually the prevailing interest rate, and they offer a guaranteed minimum payout ...
Annuities with guaranteed living benefits (GLBs) tend to have high fees commensurate with the additional risks underwritten by the issuing insurer. Some GLB examples, in no particular order: Guaranteed minimum income benefit (GMIB, a guarantee that one will get a minimum income stream upon annuitization at a particular point in the future)
Death benefit and other features. Variable annuities often come with a death benefit, ... or some other guaranteed minimum. Variable annuity contracts can include other features, known as riders. ...
Annuities can generate income for retirement. However, most annuities also feature a standard death benefit. That lets you pass on assets from the annuity to an heir after your death. If you have ...
A pure life annuity ceases to make payments on the death of the annuitant. 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 ...
Beneficiary: The beneficiary receives death benefits payable under the annuity contract, if applicable. Issuer: The issuer is the company that issues the annuity, usually an insurance firm, and ...
Annuities paid only under certain circumstances are contingent annuities. A common example is a life annuity, which is paid over the remaining lifetime of the annuitant. Certain and life annuities are guaranteed to be paid for a number of years and then become contingent on the annuitant being alive.
Some annuity payments end upon the owner’s death, while others offer death benefits.