Are Annuities Guaranteed For Life?

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Can Annuities Guarantee Lifelong Income?

Yes, annuities can be guaranteed for life if a life-based payout option is selected. This means the annuity will continue to provide income for the annuitant’s life, even if the account balance reaches zero.

Annuities Guarantee An Income For Life

Key Aspects of Lifetime Annuities

  1. Payout Options: Choosing a life-based payout ensures income throughout the annuitant’s life.
  2. Lifetime Guarantee: The annuity pays out until the death of the annuitant.
  3. Financial Security: Provides a steady income stream in retirement, regardless of account balance.
  4. Variations: Annuities can offer different lifetime payouts, such as fixed or variable rates.
Is An Annuity Guaranteed For Life

Examples of Guaranteed Lifetime Annuity Benefits

  • A retiree receives a monthly payment of $500 for life, even after their annuity’s principal is depleted.
  • A variable annuity adjusts payments based on investment performance but guarantees lifetime income.
Qualified Guaranteed Income For Life Annuity

Lifetime Annuities Compared to Other Options

FeatureLifetime AnnuitiesFixed Term Annuities
DurationFor lifeFor a specified term
Income SecurityHighDepends on term length
FlexibilityLower (fixed for life)Higher (term can be chosen)

Conclusion

Lifetime annuities offer secure and guaranteed lifetime payments, making them an excellent choice for retirement planning. They ensure financial stability by providing a steady income stream, even after spending the original investment. Contact us today for a free quote.

Guaranteed Income For Life Annuity

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Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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