Consider a New York Life Annuity

Many individuals are unaware that their nest egg may not be large enough to support their retirement years or are looking for ways to enhance it. If you are approaching retirement or are currently retired, there are financial vehicles that can provide you with a steady income stream for the rest of your life.

Below you will find frequently asked questions on how an immediate annuity works and how it can benefit you, so that you can make an informed decision about this type of financial product.

What is an immediate annuity?

When an individual purchases an immediate annuity, a lump-sum premium payment is paid to the issuer. In exchange, the annuitant gains the right to a steady income stream for a predetermined amount of time and with a fixed rate of return. The insurance company handling the annuity issues the payments according to the repayment schedule.

Can payments be issued on a monthly, bi-annual or annual basis?

Yes. An immediate annuity can be structured to provide you with payments as frequently as you require. Your financial specialist will work closely with you to show you how the frequency of your payments will affect your annuity options.

If I need the payments to be a certain dollar amount, can I still benefit from an immediate annuity?

Yes. When you acquire a fixed amount immediate annuity, the insurer will consider the amount of premium you can afford, the size of each payment that you need and your desired repayment schedule. Other repayment options include fixed period or payments for life; in the case of the latter option can last for a specified amount of time, be refunded if you die prematurely, or be spread out over the lives of two individuals.

Is this type of financial vehicle safe and reliable?

Yes. Reputable and sound insurance companies, such as New York Life, AIG and United of Omaha, offer this type of annuity to the public. These insurers have been found to possess the financial backing, credit rating and experience that allow them to make annuity payments as scheduled. It is important that you purchase your annuity from a company that has a high credit rating from Standard & Poor’s, Moody’s and/or A.M. Best.

Can I alter or change the terms of the annuity?

The only time you are able to change the terms of your immediate annuity is during the structuring phase. Once you agree to the annuity terms and remit the requisite premium, the insurance company calculates your payment schedule based on the monies remitted, which means you are locked into the agreement.

Whether you are an AARP member, approaching retirement or already retired, the experienced agents at TotalReturnAnnuities.com are ready and able to assist you with the entire immediate annuity process. Call today for a no obligation quotation: 866-866-1999.