How to find The Best Immediate Annuities
The Annuity Man
Immediate Annuities are the grand-daddy of all annuity types. It's the original annuity. The first structure. The actual name of the product is a Single Premium Immediate Annuity (SPIA). Back in the Roman Times, annuities were first introduced as a lifetime income pension gift to the dutiful Roman soldiers and their families. The Latin work "annua" means payment, and is the origin of the "annuity" word we use today.
Immediate Annuity payments are priced primarily on your life expectancy (or life expectancies...if joint) at the time the income starts. Interest rates play a secondary pricing role.
The product structure is a transfer of risk to the issuing annuity carrier for them to pay regardless of how long you live. There's no ROI (Return on Investment) calculation until you die. Yes, that fact rhymes...."There's no ROI till you die!"
Immediate Annuities should be shopped through all carriers in order to find the highest contractual guarantee for your specific situation. Quotes guarantees are like a gallon of milk, and expire every 7 to 10 days unless they are locked in during the application process. You should choose the carrier not only if they have the highest contractual guarantee, but on their ratings and claims paying ability as well. In other words, that annuity company is going to pay you for life, so it's important to make sure they can make those long term payments.
Contact Stan The Annuity Man to get the best and highest contractually guaranteed quotes with all carriers using Stan's proprietary annuity calculators. You can also receive Stan's 6 Annuity Owners Manuals for free and under no obligation.