How To Annuitize A Variable Annuity?

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    Jim Winkler
    CEO/Owner, Winkler Financial Group, Houston, Texas
    That is a great question! Deferred Annuities have two stages to them - an accumulation phase, where the contract accumulates growth, and an annuitization stage, where it begins to pay out, or "annuitize". Your contract should specify how long your accumulation phase lasts, and for how long your payments will last. Each annuity can vary in what your options are to start your payment streams, so contact your agent and have them review what your contract allows. Generally if you do nothing, they begin to pay out automatically when you hit a specified age. Contact your agent, to be certain that you can begin your payments without any issues, okay? Thanks for asking!
    Answered on July 30, 2014
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