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Benefits of going for a Deferred Annuity

By: MikeAnderson

This Deferred Annuity is to contract the savings phase. This phase is nothing but the phase is simply that the annuitant person invests the lump sum money into his personal account. In the second phase, the contract is converted into annuity and from here the annuitant starts to get payment. This gives you the required tax benefit. This annuity scheme accounts earnings, which are taxed at the time of withdrawal. This scheme also gives death benefits to the annuity holder or the person who have applied for the annuity scheme. This type of annuity is either fixed or may be of variable type.

Are you the person, who is going to take rest from your grueling service life? Then you can take a chance of spending the rest of your life in the tranquil atmosphere of the countryside. You must certainly go for a life annuity. They are probably one of the best investment products in the market, especially for the retired persons. You will certainly get a secured future. An annuity is an contract between the insurance company and the individual, who goes for it. It gives regular income to the individual for almost rest of his life.

The Deferred annuity offers many choices, so you can certainly select the most appropriate. That selected scheme can suit you, according to your available financial capacity. It is very much similar to a certificate of deposit scheme. But there is a difference, is that you will get the interest deferred. It is till you make any kind from the contract. The insurance company will provide the guaranteed annuity rate. This you will get, when you will purchase the deferred annuity. It is almost similar to mutual funds. Among the various annuities, the Life annuity is probably the best investment products. This will certainly give you a better future. Your investments will bring regular income at your hand. But the payment will depend on certain factors, related to the individual’s health, age, gender, pension pot, interest rate, type of annuity and rates. You will get all these advantages in a life annuity.

The deferred annuity offers the most comprehensive choices, to suit your tastes and needs. There is also the fixed deferred annuity, where the insurance company will provide you the guaranteed annuity rate. This you will get at the time of purchasing that Life annuity product or other similar annuity product.. You can certainly get the benefits of getting assistance online. There are two major types of life annuity products available on the market, they are

Straight Life – For most people, this is quite easy to understand and the aim is to ensure that an individual will receive pre determined payments, every month till the rest of his life. It is also cheaper and straight forward.

Substandard Health – This type of annuity product is mostly considered by people, who are mostly in a poor state of health. This type of annuity is somewhat expensive, since there is some greater financial risk being put on the part of the insurance company. In this case the annuitant may not live longer due to his poor health conditions, so he will receive a higher monthly payment.

Joint life with last survivor – They are beneficial for persons, who have dependents. As for example, if you have a spouse you can consider it.

Article Source:

Mike Anderson is a business consultant who has good information on deferred annuity and life annuity. For more information visit


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