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Annuities |
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Annuities are great options for high return and tax-deferred interest until withdrawal. Annuities offer a number of benefits over your retirement savings plans and therefore, a growing number of senior people and retirees in the US are opting for annuities as a source of their retirement income.
What are Annuities?
Annuities can give you the much needed boost after your retirement as you receive a specific amount every year, every half-year or every month, either for life or for a fixed number of years. |
All you need to do is to make an investment either in a single lump sum or through installments paid over a certain number of years. After the death of the annuitant or after the fixed annuity period expires for annuity payments, the invested annuity fund is refunded, sometimes even with a small addition.
Are annuities and life insurance the same thing?
No. Annuities are fundamentally different in the sense that an annuity does not provide any life insurance cover. Instead, what it offers is a guaranteed income either for life or for a certain period. Annuities are also called pension plans as these generate income during your retired life. For more information, you may visit the annuity segment of "InsureMagic.Com"
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