The Immediate Annuity:
A Lifetime of Security
The Basics of the Immediate Annuity
Like many annuities, The Immediate Annuity can be a great tool for protecting your income. With the immediate annuity, you make one large deposit and receive payments on that sum for the rest of your life. Although the money in the traditional immediate annuity dies when you do, there are options to provide the remainder to your heirs. This makes the immediate annuity an ideal investment tool for rolling over pension plans and structured settlements.
The Immediate Annuity for Rollovers
When rolling over money from any retirement account, an immediate annuity can be the perfect place for your savings. This is especially true if you are interested in avoiding tax penalties from the income. If you need tax protection or rollover help, you should seek the advice of financial professionals to set up your immediate annuity.
The Immediate Annuity for Structured Settlements
One popular use of the immediate annuity is to help the beneficiaries of legal settlements. These structured settlement annuities are deposited as a lump sum, then payments are sent to the plaintiff, which are not generally accessible, even in emergencies. If you have a structured settlement annuity, you will usually be guaranteed payments for life because it is designed and protected as an immediate annuity.
Is the Immediate Annuity Right for You?
Immediate annuities, like all annuities, can have options placed on them to tailor them to your needs. The immediate annuity might be right for you if you want to start receiving payments now for a deposit. To explore the different options available to tailor your immediate annuity to your needs, please seek professional financial counseling.
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