How Do Fixed Income Annuities Work?
63333 POINTSContact Meview profilePeggy Mace, Certified Senior Advisor (CSA)®PROCEO, Outlook Life, Inc, Most of the U.S.Fixed income annuities provide a fixed, guaranteed income stream for a set period of years, or for the rest of your life, per your choice. They are generally purchased with a lump sum near or during retirement age and are annuitized (regular payments paid out to the annuitant) immediately upon purchase of the annuity.Answered on May 17, 2013+11+1 this answer
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37376 POINTSContact Meview profileDavid G. Pipes, CLU®, RICP®PROBusiness Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaA fixed income annuity is a contact with a life insurance company. In exchange for a sum of money the company promises to pay a monthly income to you for the balance of your life. The first major variation of this contract is a deferred fixed income annuity. The difference is that the sum of money is not applied immediately but deferred until a later date. There are many other variations of an annuity to include payments that are guaranteed for a specified period of time or payments that last through the lifetime of two people.Answered on August 20, 2014+01+1 this answer 0flag this answerview more answers by David G. Pipes, CLU®, RICP®
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