Wednesday, August 24, 2011

Insurance plan that pays immediate annuities

Not sure if this type of insurance is available here in Malaysia but over in the U.S., there is such an insurance plan called single premium immediate annuities or simply "immediate annuities."

What this means is that this insurance product requires only a single payment and after that the insurance company pays you a pension for the rest of your life.

Single-premium immediate annuities are most useful for individuals or couples who are already at retirement age. A retiree can use his/her savings to purchase an immediate annuity, which will ensure steady income for his/her entire retirement, no matter how long he/she lives.

1 comment:

  1. There are lots of insurance plans available but the one that pays annuities immediately are very few or rather impossible to find. This post will definitely an informative one.