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>  Receive Stable, Monthly Income forLife
 >  Limit Market Risk & Retire with Confidence
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The immediate annuity is a contract between you and your issuing insurance company. But how exactly does it work to secure you and your family’s future?

The Annuity Premium

The immediate annuity owner gives a lump sum payment to the insurance company. The lump sum payment, which is called the premium of the annuity, is largely determined by two factors – your age and your life expectancy. Unlike in traditional insurance assets, the insurance company will not estimate your life expectancy based on your lifestyle and general health condition.

In exchange for the payment you give to the company, they guarantee that they will provide you with a monthly income for the rest of your life or for a certain period of time, depending on the choice you indicate in your annuity contract.

The Annuity Payout

The amount of income that you receive every month is determined by your age and your sex. For example, if you buy an immediate annuity and pay $50,000 for your annuity’s premium, the rough estimate of the monthly income you are entitled to is $660 if you are a female and $713 if you are a male.

The amount of monthly income you receive does not change if you choose the immediate fixed annuity. If you choose an immediate lifetime annuity and then you passed away after the annuity contract has been signed, the money you contributed to the insurance company will go to your beneficiaries if you indicated an automatic beneficiary option in your contract. However, if you failed to do so the money generally goes to the insurance company.

There are several different immediate annuity payout options that you can choose from to meet your needs and goals. These options are flexible and can be customized in order to give you the greatest benefits possible from your annuity. You can choose a lifetime income option that guarantees you a stable and regular source of income that you can rely on for the rest of your life. With this option, you may not have to worry about living in penury after your retirement.

You can also choose to receive income payments every month for a fixed period of years. In this payout option, the company will report to you how much income you will receive if you choose a fixed period of, say, ten years or twenty years. If you require, you can also choose to receive a fixed income amount from your annuity. The company will then calculate how long your regular payments will last. Needless to say, if you choose to receive a high amount of income, you will receive payments only for a short period of time. For example, if you choose a fixed amount of $1340 every month, you will receive payments only for ten years. But if you choose a fixed amount of $670 every month, you will receive payments for twenty years.

With the life with refund option, you choose to receive a lifetime income. If you do not live long enough to receive the full value of your account premium, the remaining value will be refunded to the beneficiary you had indicated in your annuity contract. The life with period certain option allows you to choose receiving equal payments all throughout your life span or to your beneficiary for a guaranteed period of time.

The last payout option you can consider is the joint and survivorship payout option. This option guarantees payments all throughout the lifetime of two individuals, who are called the primary annuitant and the joint annuitant.

Learn more about the immediate annuities! Enter your ZIP at the top of this page to compare FREE annuity quotes.