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A type of annuity offering a guaranteed income stream, typically for life or a specified period, with payments starting within a year. This is a popular option for individuals who have a large sum ...
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 ...
Period certain: This annuity guarantees payments for a set period of time, such as 10 or 20 years, instead of the rest of your life. If you pass away before the period is over, a beneficiary will ...
Using today's rates, a $10,000 immediate annuity for a 65-year-old might pay around $75 to $80 monthly for life. Delaying payments or investing more money would increase this amount.
An annuity is a contract issued by an insurance company that pays a stream of income for a specified period or often for the remaining life of the contract holder.
A viable alternative to the life-with-period-certain annuity is to purchase a single-premium life policy that would cover the lost premium in the annuity. Impaired-life annuities for smokers or those with a particular illness are also available from some insurance companies. Since the life expectancy is reduced, the annual payment to the ...
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