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What's immediate about an immediate annuity? Income! This type of annuity requires a one time deposit which becomes an income at once. It can be set up to be an income you can't outlive by choosing a "Lifetime" payout. The payments can be based on two lives, you and your spouse, by choosing a "last Survivor" payout. In this case the payments would continue until the second of you passes on. What great Investments!
There are many other payment plans you may choose. "Term Certain" guarantees that the payments will continue for ten, fifteen or twenty years. To add a little confusion, you may combine the Term Certain and Life options. This creates a payout that will last, for example, for twenty years or your life, whichever is longer.
Another option is to "Annuitize" an annuity you already have. The payout options are the same, with some variation by company. You can annuitize Fixed Annuities, Indexed Annuities, an IRA, or a Roth IRA. Stocks can be converted to an Immediate Annuity.
Want some income now? Call Nancy, 928-777-8736, or Ron, 928-717-8256, or E-Mail us at answers@weareinsurance.com.
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