|
 |
How will I receive my annuity payments?
Author: Ammon Yorke
Website: http://www.AnnuityYes.com
Added: Sat, Jun 24, 2006 8:47:41
Category: Annuity Questions
|
|
There are several pay-out methods available when you begin receiving annuity payments. With some options, you or your beneficiaries can select how you want to be paid. The following are some of these:
- You can get income for your entire lifetime even when the money in your annuity account has been used up. This is advantageous if you live to an advanced age because it will maximize the income that you will receive. However, there is a risk involved: when you die, all the money cannot be claimed, even by your assigned beneficiaries. If you die young, you simply lose this money.
- Another is the joint and survivor annuity where it pays you during your lifetime, and after your death your beneficiary (usually your spouse) will also be paid during his or her lifetime.
- You can also refund your annuity, meaning you're gaining income for life. However, when you die, the portion if the income payments that you have not collected will be the only amount that your beneficiary receives.
See also: Annuities | Investing | Income About the Author:
Ammon Yorke answers frequently asked annuity questions at PrettyGreatAnswers.com.
--- Grab the Feed for related Questions and Answers. If you'd like to use our questions and answers on your website for content, we've created a simple free tool you can use to create a custom RSS Feed! ---
More
|
|
|
|
|
