Fixed-Rate Annuity Payout Options: Understand Your Choices
If you are considering fixed-rate annuities as a way to increase your retirement income, you want to make sure that you understand the different payout options that you have. Here are some of the payout options for fixed-rate annuities.
Term
One option that you will have is to receive a fixed monthly payment for a certain amount of time. For example, you might be able to choose a 30-year term for which you will receive payments from the annuity.
Life
You could also choose to receive payments for the rest of your life. You could set up a contract based on your life as an individual or as a couple if you are married. If you are married, your monthly payment is going to be smaller because the insurance company has to guarantee the payment for the lives of two people instead of one.
Life with Guaranteed Term
You can also choose to get an annuity that will guarantee you payments for your life and for a certain amount of time for your beneficiaries. For example, if you died three years into your payments, your payments might continue for the next seven years to the beneficiary that you designate.
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Retirement Plan Beneficiary Options: A Guide to Distributions
When more than one beneficiary is listed on a retirement plan, the individuals will have several options in determining how to receive distributions. These options will vary based on the relatio
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Lifetime Annuity Death Benefits: A Comprehensive Guide
Whenever you are considering purchasing lifetime annuities, you want to make sure that you understand the possible death benefit provisions that you could have. Here are the basics of death bene
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Simple IRA Employer Contribution Options: A Comprehensive Guide
A simple IRA is a retirement account that allows employers and employees to contribute money. With this type of account, the employer has two different options when it comes to making contributi...
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Choosing the Right Payout Annuity for Retirement: A Comprehensive Guide
Finding the best payout annuities is important if you want to make sure that you have enough money to live on during your retirement years. With all of the annuity products that are in the marke...