Immediate vs Deferred Annuities

An Immediate annuity is usually a one-time lump sum premium payment, in exchange, you begin to receive an income soon there after, normally within 12 months.. This type of annuity guarantees a fixed income for specified period of time or for the rest of your life, but you do not have the option to invest or spend your money in another way. An Immediate annuity is NOT for everyone and is generally for special cases.

Please consult with your advisor to see if this annuity meets your needs.

Any remaining accumulation value will go directly to a designated beneficiary upon death of the contract owner.

All other types of annuities are known as deferred annuities, which begin income payments MANY years after the initial premium payment.

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