Renwanz Insurance & Financial Solutions, Carlsbad, CA
The "cost" of an immediate annuity is exactly the amount you put into it. Generally, any annuity costs are already figured into the payout you will receive. Insurance companies offer different minimums and maximums and that varies considerably. Some companies allow as little as $5000.
With an immediate annuity, you give your retirement savings to an insurance company and they promise to pay out a monthly or annual amount for the rest of your life or for a fixed period. You can choose a joint annuity which would continue the payout to your spouse after your death. The amount of income generated from your immediate annuity will depend on the type of annuity (such as fixed or variable), your age, sex and marital status.
.JPG){kind=avatar}
With an immediate annuity, you give your retirement savings to an insurance company and they promise to pay out a monthly or annual amount for the rest of your life or for a fixed period. You can choose a joint annuity which would continue the payout to your spouse after your death. The amount of income generated from your immediate annuity will depend on the type of annuity (such as fixed or variable), your age, sex and marital status.