An "Immediate Annuity" is a financial product purchased with a single lump-sum payment, in exchange for which the buyer receives guaranteed income payments that begin almost immediately.
An "Immediate Annuity" is a financial product purchased with a single lump-sum payment, in exchange for which the buyer receives guaranteed income payments that begin almost immediately.
Typically offered by insurance companies, immediate annuities are designed to provide a steady stream of income for a specified period or for the lifetime of the annuitant. They are often sought by retirees or those nearing retirement as a means to convert a portion of their savings into consistent, predictable income.
The primary benefit is the assurance of receiving regular payments, regardless of market fluctuations or broader economic conditions. This can provide peace of mind, especially for those concerned about outliving their savings.
An "Immediate Annuity" is a financial product purchased with a single lump-sum payment, in exchange for which the buyer receives guaranteed income payments that begin almost immediately.
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