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Finance For Dummies

Finance For Dummies offers personal finance information on investing, retirement investing, finance, insurance, credit cards, loans and more. Personal finance education is our goal.

Saturday, September 30, 2006

Annuity Options

Here we will discuss a couple options you have when deciding on what annuity is best for you.

-Lifetime Income for you and your spouse
Here you will be paid as long as you or your spouse still lives. Decide if the initial payment you receive is low or high or if payments will remain the same after the first person dies. The higher payment that drops by half when one spouse dies is another option to consider.

-Lifetime Income for you
You will get the highest income with this option and will recieve a flat monthly payment the remainder of your life. Once you are gone the money stops. So don't die early!!!!

-10-Year Certain
Flat payment, but if you die before 10 years are up your spouse will receive payments until the 10th year is up.

-Inflation Protection
Your beginning payment would be low, but will increase every year as inflation does.


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