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For example, choosing a life annuity with a 10-year period certain means your annuity will pay you for life, but if you pass away after five years, your beneficiaries will receive payments for the ...
A straight life annuity is a form of annuity that makes payments for a single person's life. It does not pay a death benefit, nor does it pay spousal benefits. The annuity payments end when the ...
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 annuity can provide predictable, guaranteed income in retirement. You can also use an annuity contract to schedule payments from a structured settlement or a large financial windfall, such as a ...
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 ...
Beneficiary: The beneficiary receives death benefits payable under the annuity contract, if applicable. Issuer: The issuer is the company that issues the annuity, such as an insurance company, and ...