What Is A Lifetime Annuity

But your beneficiaries wont see a payout as payments end when you die.

What is a lifetime annuity. Lifetime income annuities are insurance products designed to provide income throughout your retirement. You can think of a lifetime annuity as investment vehicle that functions as a personal pension plan. Lifetime Annuity Basics An annuity is a financial contract that you enter into with an insurance company.

First and foremost an annuity is a product which you purchase from either a super fund or life insurance company with a lump sum using either money from your superannuation or regular old savings. Once purchased the annuity will provide you with income payments which can be made monthly quarterly half-yearly or yearly. But unlike a life insurance policy an annuity pays you monthly income at a future point that is determined at the time you sign.

A lifetime annuity is a financial product you can buy with a lump sum of money. If you plan to go with an annuity its important to shop around and do your research. Monthly payments for life and your spouses life if you choose.

For product information see our Lifetime annuities page. In return you will receive income for the rest of your life. A lifetime annuity is an investment vehicle where you pay premiums each month similar to a life insurance policy.

A lifetime annuity is a type of annuity payment that is structured for regular disbursement to the owner of the annuity for as long as he or she remains alive. One of your options is a lifetime annuity that will pay you a certain amount for the rest of your life. Sometimes referred to as single life straight life or non-refund these are a form of immediate annuity that provides income for your entire life.

Here is what you will receive. A lifetime annuity guarantees payment of a predetermined amount for the rest of your life. A lifetime annuity ensures regular payments until the purchaser passes away.