Life Insurance Quotes

Various annuity options for Americans

07/29/11

As the number of individuals who receive a pension continues to dwindle, investing in an annuity can provide a set payment throughout an individuals retirement regardless of how long they live. These financial plans can help take some of the worry out of monetary planning after people enter retirement.

While this may sound appealing to people that have the finances to invest in an annuity, these are several different options for individuals to choose from. A standard conventional annuity will provide a guaranteed payment for the rest of an individual's life, and often times the rest of their spouses life as well. Some policies can protect investors from inflation risks, but since rates are currently low, now may be a perfect time to choose a fixed rate. However, there is no flexibility with these plans, once they are purchased changes typically cannot be made.

A with profits annuity is directly linked to the performance of an insurance company and includes equities, property, fixed interest and cash. These can beneficial because if the income of the company increases, the payments to the investor may do so as well. Conversely, there are no set guaranteed payments, so the investment could make more or less than with a conventional annuity.  

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