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What are my annuity pay-out options?
Author: Ammon Yorke
Website: http://www.AnnuityYes.com
Added: Sat, Jun 24, 2006 8:47:41
Category: Annuity Questions
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Most annuities offer several pay-out options to investors. The following are some of the typical options offered by annuity assurance companies:
- Life only. Payments are made over the lifetime of the investors, meaning nothing is paid to his/her estate or beneficiaries. This option provides the investors the maximum income payment.
- Joint and Survivor. The payments are continued for the lifetimes of both the investor and a surviving co-investor. Compared to life-only payments, the pay-out payments under this option will be smaller.
- Life and Period. Payments are made during the life of the investor or for a certain period. If the investor, for example, dies within a year after the annuity payments begin on a 20-year period, then the beneficiary of the investor will continue to receive payments for another 19 years.
- Installment Refund Annuity. Payments to the investor or his/her beneficiaries will continue until the pay-out equals the amount the investor originally paid into to the annuity plan he purchased.
See also: Annuities | Annuity | Investing About the Author:
Ammon Yorke answers frequently asked annuity questions at PrettyGreatAnswers.com.
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