Wednesday, February 1, 2012

Life annuity brings Peace & Happiness Unlimited for Retirees


After the successful completion of our working era, we head to another life dominated by security and peace. Well, it’s quite obvious for an individual to expect a hassle-free life where there will be no work responsibilities and unavoidable tensions. Despite, a certain way has to be adopted that can ensure monetary stability till your last breath. So, if you have already bid farewell to your work and therefore looking for extra income, why don’t you go for a long-term investment? People nowadays are going for life annuity policies for sustaining regular income for lifetime. So, let’s see the factors that are making retirees go for such long term investment policies.

·         A life annuity policy certainly scores higher when it comes to financial stability and monetary security. No matter what the market condition stands, you will get your deserved income according to your set time period.

·         Fixed annuity is the best life annuity policy that can let you enjoy a steady income. This means that the rate of interest initially set by you in the contract remains same despite any sort of monetary turbulence in the current market.


·         Life annuity policies are much safer. The annuitant needs to sign a contract with an insurance company. Here in the contract, the applicant is asked to state each and every detail including the series of payments, mode of payments, time period of the contract and of course your personal details.

·    There are no chances of facing duplicities. Remember, everything will be mentioned in a contract. In case of any convenience, you can easily catch hold of your insurance agent since he will be signing the agreement papers.

Now, what if the annuitant dies prior to recovering the actual value of the investment? In this respect, an annuitant can enjoy a superb advantage. If he/she had earlier mentioned the name of any beneficiary, the latter would start receiving the same amount after the death of the former. However, there are certain life annuity policies where the beneficiary gets lesser amount than the one the former used to receive earlier.


 Joint Life Annuities

This is one of the top life annuity schemes that can benefit the couples. In case of the life and joint survivor annuities, the payments stop once the annuitant or both the annuitants die. However, in case of a joint-survivor annuity plan, the first annuity will get a lesser amount than usual only after the death of the second spouse.

Annuity Payments for the Impaired

In case of severe medical problems, if the life expectancy of an annuitant gets reduced, the payment terms can be improved. For this, it’s always advisable to talk to an annuity expert who can help you understand all life annuity schemes other than this.

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