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Secure Your Future by Investing in Life Annuity and Income Annuity

By Robert Jhonson Subscribe to RSS | March 20th 2012 | Views:
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We all know that it is not possible to live a respectable life without proper financial support. As long as people work they have sufficient income to meet their requirements but once they retire their income gets reduced. In fact the only source of income left with them after retirement is pension. But the amount of pension is so less that it is not possible for them to meet their daily requirements. In such situations it becomes necessary for the people to plan for finances after retirement beforehand. The best way to plan for future is to invest in life annuity.

Life annuity is considered to be the best plan for the retired people because it provides financial security and regular flow of income so that they are able to fulfill their needs enjoy the golden years of their life to the fullest. These annuities are one of the best plans for investment to have a financially secured future. In life annuity all you have to do is pay a certain amount of money to the insurance company and then after a specified period of time the insurance company will provide a stream of regular income to you for your entire life. However, the amount provided by the insurance company will depend on your health, gender, age, rate of interest, pension, type of annuity and annuity rate.

Further, you can even invest in income annuity if you want to lead a relaxed like after retirement because it is a kind of annuity which provides huge benefits with very little or no risk. It is a type of immediate annuity in which you will receive the amount of money invested by you in addition to the accrued interest. There are different kinds of income annuity suitable according to the requirements of different people.

The first kind of income annuity is immediate lifetime annuity. Under this annuity you can deposit a certain amount of money and request the insurance company to pay you income for your lifetime depending on the amount you have deposited and other factors. Another kind of income annuity is income annuity for a fixed period. This annuity provides income for a fixed period of time selected by you. Hence, longer the period, lower will be the payment. However, as soon as all the payments are paid to you, your income will stop.

Therefore, you can invest in life annuity or income annuity to avail their benefits and enjoy a financially secured retired life.

Robert Jhonson - About Author:
Robert Jhonson is a Financial consultant who has good information on life annuity and income annuity. For more information, he recommends you to visit http://www.totalreturnannuities.com.

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