You might be confident that your retirement nest egg will fund your lifestyle until your late 80's. But what if you live past that age into your 90's or until 100? Longevity annuities, or longevity insurance, are a lowest cost new annuity offering retirees who don't have all of their income in pension-like stream of payments into old age that can relieve worries about outliving your money and lowering your quality of life.
Depositing a lump sum with an annuity insurer. Next step is to pick the income start age which will show you your guaranteed income payments for life. Having steady reliable income allows you to spend money freely in retirement and travel, knowing that you'll have a guaranteed income cash flow if you reach an advanced age.
The IRS has approved in the tax code a new QLAC (Qualifying Longevity Annuity Contract) which address delaying IRA RMD also know as Required Minimum Distributions until the age of 85. This QLAC has the government encouraging lifetime income thru low cost longevity annuities.
Get a free QLAC quote that compares the income rates side by side.