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2010-12-09, 20:08:14 return
variable annuity: Know About Different Types of Annuities
Different companies provide you different types of life annuity plans which you can easily choose according to your specific needs. Every policy has a different investment and a different rate of return. Annuity is a contract in which a person enters with the insurance company. The insurance company promises to pay the "annuitant" a specific amount of money as long as he is alive. The insurance company offers guaranteed lifetime income options to you if you have entered into this contract.You are given a secured time-period during which you will continue to receive payments. In this article, I would like to tell you about the different types of annuity option plans.1. Straight Life annuity plans
In this contract, monthly annuity payments are made as long as you are alive. This will assure you a monthly rate of return which can be very beneficial for you. You have to invest a certain amount of capital before you receive a monthly payment from the insurance company.2. Annuity options for two people
There are various companies who have annuity options that can cover the lives of two people.
1 person dies then the policy extends towards each other. Usually a married couple takes such forms of annuity options. This option is top notch because it ensures that you continue to acquire a fixed rate of return on a regular basis until and unless the annuitant and their wife or husband die. One disadvantage of this policy is that you'll receive a small amount of return every month. THREE. Certain time period annuity
In this policy there is a minimum guaranteed payout time period. Even if the main annuitant dies during this specified period, a beneficiary would continue to keep receive the payments until and unless the required period ends. This policy also has a drawback, because you get payments for a specified period the amount that you get would be lower versus amount that is given is the life income annuity option. 4. Temporary Annuity Choice
In this policy you still receive payments provided that you are alive. Even if you die, a beneficiary would continue to keep receive payments as a representative until the end of the specified period. One advantage of this specific policy is that if you need you can get the whole income at one time exclusively. 5. Life annuity salary with refund
The insurance company would continue to make monthly payments to the annuitant if he is alive. In case the main investor dies ahead of the expiry of the specified stage the balance amount is given to his beneficiary. Well these are some excellent annuity options that will surely be a profitable investment in your case.
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