What Is an Immediate Annuity?
An immediate annuity, often called an income annuity lets you convert a portion of your retirement savings into a stream of guarantee payments. Outside of a pension plan, an annuity is the only product that guarantees income for the rest of your life.
Why use Income Quote?
We have created an income annuity shopping process. With your instant online quote you have access to the top 10 largest immediate annuity insurance companies. Your income annuity quote will be the first step to maximizing your retirement income for life. A simple all in one solution with Income Quote.
Top 5 Advantages of Immediate Annuities
Your steady lifetime payments are guaranteed by the strength of stability of highly rated insurance companies.
No investment management or worrying about the market fluctuations. Rates locked in.
3. Tax Advantage
Your company and personal retirement accounts transferred to an income annuity is a non-taxable event. For personal and joint funds, only part of your payment is taxed.
4. Money-Back Guarantee
Immediate annuity with a refund option that guarantees you payouts of your initial deposit if you past away prematurely. Of course if you live longer the lifetime payout will continue for life.
5. High Returns
Interest rates used to calculate immediate annuity income are generally higher than bank rates, and since part of the principal is returned with each payment, higher payouts are received than interest alone.