What Are The Different Types of Annuities

What Are The Different Types of Annuities

An annuity is a series of payments at a fixed interval guaranteed for a particular set of years or a lifetime for one or more individuals. 

Similar to a pension, money is paid out of an insurance contract under which the annuitant pays a lump sum premium or multiple premium payments over a period of time. An annuity is guaranteed and backed by an insurance company. The amount paid back is a combination of your principal amount and interest earned , and part of the payments may be tax-free. Payments received from an annuity are similar to payments received from a pension. You can create your own guaranteed pension using different annuity planning strategies.

How To Create Secure Retirement Plan

How To Create Secure Retirement Plan

The goals of retirement planning are to achieve financial independence at the retirement age. Retirement plans are offered by various financial institutions and insurance companies. These are often bundled projects, offering the benefits of both insurance and investments. Instead of working at a single large company for most of the life and then counting on a pension for retirement days, people have started self-saving and investment planning on their own.