When Do Fixed Period Annuities Terminate?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Fixed period annuities end when you want them to end. You can choose a set number of years, which usually has a minimum of three years. The other option usually offered with fixed period annuities is a payment period ending at age 75. At the end of the period there will be a payout which can be reinvested in an annuity or a drawdown plan.
    Answered on June 10, 2013
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  2. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    A fixed period annuity pays a monthly amount for a specified period of time.  At the end of that time, the payments cease.  This form is often used to fund a need covering a short period of time, such as the period before another stream of income starts.  Lifetime annuities are also available which will pay for the remaining months of a person’s life.  Some lifetime annuities have a feature that allows that payments will be made to another party, should the annuitant die before the end of the period.
    Answered on July 7, 2014
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