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2016 2nd Edition (Other Editions)


How Can an Income Annuity Protect Against the Risk of Living Too Long?

The purpose of an annuity is to protect against the financial risk of living too long...the risk of outliving retirement income...by providing a guaranteed* income for life.

In fact, an annuity is the ONLY financial vehicle that can systematically liquidate a sum of money in such a way that income can be guaranteed* for as long as you live!

Here's how an income annuity works:

  1. The annuitant pays a single sum of money to an insurance company.
  2. The insurance company pays the annuitant a guaranteed* income for as long as the annuitant is alive.
  3. The insurance company pays survivor benefits, if any, to the annuitant's designated beneficiary after the annuitant's death.

* Guarantee is based on the continued claims-paying ability of the insurer.