Know More about the Annuity Plans to Proceed towards a Better Future
Are you worried about your fast approaching retirement? Well, retirement can be a burden for the retirees, who want to live a tension free life. Yes, as retirement brings along old age, health problems, and little pension amount altogether, getting worried becomes obvious. In such circumstances, you can go for an annuity plan to secure your future from all these troubles. However, knowing about the annuity quotes beforehand, will help you get the best deal. Therefore, researching the market to know about the ongoing situation and the annuity rates is all what you can do, before you go for investing upon such an annuity plan.
Have a glance upon some of the important factors
A 65 year old man having a pot of $ 100,000 can receive an amount of $5,000 per year as his pension. If the man continues to live till 84 years of old, he will be still able to get $562 per month. However, when he goes for a healthy deal, he can increase his earning to $5,800 per year, which is quite helpful for living the post retirement life in a better way.
If you smoke, or have a health problem or obese, you can get more benefits out of an annuity plan. Yes, by applying to the enhanced annuity plans, you can increase your annual income by 20% more after your retirement.
Joint life annuity income helps your partner get 50% to 68% of your annuity income once you die. However, these annuity rates are quite lower than the annuities bought for securing a single life.
Level annuities are the most common annuities that people go for, because it offers highest starting income. However, if there is inflation, the annual rate drops to just 4%, which decrease the purchasing ability of an annuitant.
Therefore, before you go for applying to any of the annuity plans, you must ask for the annuity quotes at first. Well, you can also go for using an annuity calculator to know about the annuity details at your ease.
From a recent speculation, according to LIMRA, an insurance industry research and consulting groups, income annuity sales have risen by 6.6% more in 2011, which records $8.1 billion. Therefore, annuitant can rely upon their retirement plans and retirees can go for having an annuity plan without any tension of getting less.
Therefore, know your annuity quotes now, because the more you get to know about the annuity rates, the more it helps you rely upon your future at its best.
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