Retirement plans are designed in order to support you financially after your retirement and to let you be independent in that phase of life when you are in need of a stable source of income to meet your expenses. There are various types of retirement annuity plans available in the market. The insurance companies offer different benefits on various annuity plans.
There are fixed deferred annuity plan which secure you a stable immediate annuity quote at a regular basis because the principal money invested is used by the insurance company to invest in low risk government bonds and securities. Variable annuity plans offer a high rate of interest but the pay is irregular. Equity indexed annuity combines the benefit of both the plans. The rate of return guaranteed by the insurance company on different policies is called annuity quotes.
Immediate annuity quote is the index which you have to compare in order to select a suitable plan as your annuity scheme for retirement in case of an immediate annuity quote opted. Immediate annuity is that type of an annuity plan which starts paying out after a fixed annuity period of a month or a year which varies according to the terms of the policy. Additions of death benefits, protection against inflation are things to be considered. Immediate annuity pays you lump sum money as part of a financial arrangement during the life of the policy agreement. Immediate annuity is a safe investment which will support you in your life after retirement.
Some factors involved in determining immediate annuity quote are the market condition, inflation rate and Government monetary policy. The immediate annuity quote is state specific so you need to know whether the scheme is operating in your state or not. State Insurance Commission is a Government body that regulates the insurance companies and thereby influences the annuity plans designed by the insurance companies. If you compare the merits and demerits of annuity plans you’ll find for yourself which suits you best. Immediate annuity quote plays an important role in deciding the annuity plan. Fixed deferred annuity plan gives you a low rate of interest where the focus is primarily on safety of the principal amount and variable annuity is irregular and but pays you high rate of interest on your capital. Thus immediate annuity plan which is also called ‘Single premium Immediate annuity’ is what you may opt if you require a good sum of money post-retirement.
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