Single Life Annuities:
The Installment Refund (IR) Single Life Annuity
What is an Installment Refund Single Life Annuity?
The installment refund annuity is a single premium life annuity that pays out an amount equal to the amount of your payments or until you die. If you live longer than the amount you paid into the annuity, the insurance company will continue to make payments to you until you do pass away.
Earning Interest on Installment Refund Annuities
Your installment refund annuity will probably be best if earning interest on fixed rate, although the potential gains found with the variable annuity might work well with your plans. To help decide which installment refund annuity is best for your financial future, we recommend you seek professional advice.
Immediate Payments on IR Single Life Annuities
You can set up any type a refund annuity (or any annuity, for that matter) to pay out either immediately, or, if you want the annuity to grow in value, payments can be deferred to start at a later date. Either arrangement can be good for you, so it is usually a good idea to get counseling from an experienced, independent financial advisor to help make this decision.
Setting Up an Installment Refund Annuity?
If you are considering setting up an installment refund single life annuity, it is always a good idea to get your facts from trusted sources. By learning all you can, you will be better able to make the best decision for your financial future. Please, take a moment and get a free consultation from our counselors before setting up your installment refund single life annuity.
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