Why buy an annuity? Guaranteed income for life Enjoy peace of mind through your retirement in knowing you can’t outlive your money. Enhanced annuities You could receive a higher income if you have certain medical conditions and/or are overweight, or smoke. Up to 25% tax-free lump sum You...
How does the present value of a lump sum compare to the present value of an annuity? What are the differences between the present-value of a lump sum and the present value of an annuity? What's the future value of a 5%, 5-year ordinary annuity that pays $80...
Withdraw funds as a lump sum. Reinvest in a new annuity. Leave the funds in place to earn the renewal rate. Policyholders typically have 30 days to decide. If no action is taken, the contract will automatically renew at the prevailing rate. ...
A Multi-Year Guaranteed Annuity (MYGA) is an insurance company product that works similarly to a bank CD. You deposit a lump sum, and the insurer guarantees a fixed interest rate for a specified term. MYGAs are straightforward, with no hidden fees or unexpected changes after purchase. As ...