The Ultimate Guide To AnnuitiesYour One-Stop Resource for Retirement
What is an immediate annuity?
As you probably deduce from its name, immediate annuities start paying out immediately. These are often bought by people that are already retired. In immediate annuities, you give an insurer company a large sum of money and you will receive regular income payments while you’re alive. There are several options to determine how your payments will work: You could set payments for a specific period or payments that will continue for as long you or your beneficiary is alive.