Life Insurance Quotes

What's Guaranteed in Annuities?

An annuity can guarantee any or all of the following:

  • the rate at which interest accumulates
  • the size of your pension payments
  • how long your income stream will last

The rate at which interest accumulates

Immediate annuities are exempt; they need no guarantee because there is no accumulation period for generating interest.

As for deferred annuities: fixed annuities accrue interest at a guaranteed rate for at least a certain duration; indexed annuities and variable annuities offer low guarantees but provide better returns if market factors allow.

Get further detail about annuities with guaranteed interest.

The size of your pension

The size of your pension payments is not set until you initiate your annuity's income phase because the longer you save, the larger your pension payments will be. However, once your income phase begins, the size of your pension payments is guaranteed.

Get further detail about annuities with guaranteed income.

Besides that, you can receive various guarantees pertaining to the duration of your pension (see below).

How long your income stream will last

Traditionally, annuities continue to pay a constant stream of income for as long as the annuitant lives. However, there are alternatives which enable you to guarantee or partially guarantee the duration of your pension for a fixed number of years. There are even combinations of these two types of guarantees available to you.

Get further detail on annuities with guaranteed duration.

Talk to an Advisor

A licensed insurance advisor can explain your options and help you choose the right life insurance for your needs.

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