Payouts can be set up in various ways ā monthly, quarterly, or annually ā and they usually depend on factors like your initial investment and the terms you agree to at the start.
Yes, like a safety net, these annuities are often backed by state insurance funds, which means thereās a layer of protection for your investment against issuer default.
While they can provide peace of mind, itās wise to be aware that inflation and interest rates can affect the value of your payouts over time, so making informed decisions is key.
Usually, thereās a minimum age requirement, often around 18, but the ideal applicants are typically retirees or those nearing retirement age who want to lock in their financial future.
To kick things off, you typically need to reach out to a financial advisor or company that offers these annuities. They'll walk you through the necessary steps and help you find the best product for your needs.
Trusted and secure by over 3 million people of the worldās leading companies