There are many reasons why people who so hard for the best part of their years. Some just want to achieve their goals of getting rich. Some just want to provide enough to make their loved ones comfortable. Others want to be able to buy whatever it is that they want and need. Still, there are people who work hard while young so that they can make the most of their senior years living life to the fullest and enjoying the little things that they never get to enjoy while they were still young.
Most people who are already in their late fifties and early sixties already contemplate about retirement. This is a stage wherein mature people retire from the work force to enjoy life, something they were deprived of when they were younger and still strong. It is a privilege all the seniors should have, but sadly, not everyone gets to have. This is why an annuity advisor is very much needed.
A life annuity is a financial contract wherein a seller, which is typically a life insurance company, makes a series of disbursements to a buyer, all in exchange for payments prior to the onset of the remuneration. The payments can be made in two ways. It can be done immediately in a lump sum, as in the case of single payment remuneration, or can be disclosed in regular disbursements in the case of regular payment annuity.
There are two distinct phases generally followed when people get into an annuity plan. The first step is the accumulation phase. This is where you, as the buyer, will make deposits into a special account. In a certain span of time, the plan proceeds to the distribution phase. This is where the insurance company pays you back your deposited money, along with a certain percentage as detailed in the clause of the contract you have signed.
You must also choose an annuity that will best suit your capacity to make payments. The first type is perhaps the most common, which is the fixed type. With this you are required to make regular payments which will go back to you in regular installments. The variable type is where your reimbursed amounts all depend on your deposit performance.
Sometimes, the unexpected could happen and the buyer could die suddenly without getting the payments that are due to him. Regular annuities forfeit the payments, keeping all the money for themselves, leaving the bereaved in anguish and turmoil. This paved the way for the rise of those termed as guaranteed plans. This guarantees the family of the deceased that they will be able to get the remaining balance, as long as they are listed in the official list of beneficiaries of the annuitant.
Joined plans are for couples who are confident they would grow old and die together. These assure of a steady flow of payments until such time that one or both dies. There are two known types, which are the joint life and the joint survivor plans.
Impaired life plans can be applied by people given a severe medical diagnosis. This diagnosis can reduce life expectantly significantly, which makes for the use of this plan. Processes of medical underwriting is involved for one to be eligible for the said program.
Advisors are people who are experts in these financial plans. They are the ones you run to when you want to try investing in an annuity. These people are trained to find the right plan for you to make the most of your later years in life.
Most people who are already in their late fifties and early sixties already contemplate about retirement. This is a stage wherein mature people retire from the work force to enjoy life, something they were deprived of when they were younger and still strong. It is a privilege all the seniors should have, but sadly, not everyone gets to have. This is why an annuity advisor is very much needed.
A life annuity is a financial contract wherein a seller, which is typically a life insurance company, makes a series of disbursements to a buyer, all in exchange for payments prior to the onset of the remuneration. The payments can be made in two ways. It can be done immediately in a lump sum, as in the case of single payment remuneration, or can be disclosed in regular disbursements in the case of regular payment annuity.
There are two distinct phases generally followed when people get into an annuity plan. The first step is the accumulation phase. This is where you, as the buyer, will make deposits into a special account. In a certain span of time, the plan proceeds to the distribution phase. This is where the insurance company pays you back your deposited money, along with a certain percentage as detailed in the clause of the contract you have signed.
You must also choose an annuity that will best suit your capacity to make payments. The first type is perhaps the most common, which is the fixed type. With this you are required to make regular payments which will go back to you in regular installments. The variable type is where your reimbursed amounts all depend on your deposit performance.
Sometimes, the unexpected could happen and the buyer could die suddenly without getting the payments that are due to him. Regular annuities forfeit the payments, keeping all the money for themselves, leaving the bereaved in anguish and turmoil. This paved the way for the rise of those termed as guaranteed plans. This guarantees the family of the deceased that they will be able to get the remaining balance, as long as they are listed in the official list of beneficiaries of the annuitant.
Joined plans are for couples who are confident they would grow old and die together. These assure of a steady flow of payments until such time that one or both dies. There are two known types, which are the joint life and the joint survivor plans.
Impaired life plans can be applied by people given a severe medical diagnosis. This diagnosis can reduce life expectantly significantly, which makes for the use of this plan. Processes of medical underwriting is involved for one to be eligible for the said program.
Advisors are people who are experts in these financial plans. They are the ones you run to when you want to try investing in an annuity. These people are trained to find the right plan for you to make the most of your later years in life.
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