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no , but variable annuities typically follow along those lines. they give you guarantees which are only good towards annuitizing , you do not actually have use of that balance other than to draw off it.
immediate annuity's are different . they work like buying a cd. what you sign on for is what you get with no other fees or charges .
I looked at the literature for some more complex annuities and it made my head spin. It sure did look like they were trying to obsfucate things. So an immediate annuity is about the only thing I would consider.
It seems like it could be a great deflation hedge, though that's a whole nother discussion. Do they all have about the same payout ratios for a given age? I think the biggest risk is the stability of the company given the possibility of financial turmoil. How would you evaluate this?
I looked at immediateannuities.com and their quick estimate showed a product with a guaranteed 20 yr payout that was only $20/mo less than a mere lifetime benefit. That means your heirs get a payout for 20 yrs even if you get run over by a bus tomorrow. Sounds too good to be true. Your thoughts? I expect to buy when I am 60.
I looked at immediateannuities.com and their quick estimate showed a product with a guaranteed 20 yr payout that was only $20/mo less than a mere lifetime benefit. That means your heirs get a payout for 20 yrs even if you get run over by a bus tomorrow. Sounds too good to be true. Your thoughts? I expect to buy when I am 60.
They also have a single life with cash refund which grabbed my eye.
You die and your heirs get a refund of any unpaid premium.
Once you start with the benefits for heirs you lose a lot of the cash flow advantage .
A more powerful alternative is to take a single annuity and use life insurance for a spouse or heirs. Not only can you get more money for less in most cases but the money is tax free unlike the annuity that passes.
The combo of an annuity ,your own investing and life insurance has many advantages.
I don't know which companies - haven't filled out the form to be contacted by an agent as I am not in the market yet.
The website I visited had an extra s - was that the one you recommended mathjack?
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