Protect Your Savings Buying Immediate Annuity

Your life will not come to an end with your retirement. Possibilities are that you may live long even after retirement. With the average life expectancy growing all over the world one major concern for you like many others is making your retirement safe.

Ordinarily you will turn out to be a senior citizen at the age of 65. Yet you may live even 30 years after that. And that is a long time. If you do not plan your retirement life beforehand, making both ends meet could turn out to be a daunting task. The longer you live, the longer is the chances of your outliving your money.

Dangers are always lurking in the backgrounds. You might think your retirement life financially immune from dangers with stock investments or mutual fund certificates. To your utter dismay you may find the failure of stock markets or evaporation of deposits ruins your safe retirement plans. With no income at your disposal you are back to square one searching desperately some way out.

And with the average higher life expectancy, this is turning out to be a major social problem in America.

Of course it does not mean that there is no solution to the problem. The solution is immediate income annuity. It ensures a lifelong monthly check for you creating a way to create your own pension source. The money you saved for your retirement days is now really safe in form of the annuity.

What is so special about annuity? How is it going to make your retirement life financially safe? These are the questions that would be forming at the back of your mind. In fact annuity is just giving your money to the Insurance Company who assures you with a guarantee that you will receive a monthly check for the rest of your life. Conversely you can enter into a deal with such company to ensure the check for a specified period in which case the check will carry higher values.

Your monthly receipts will depend on several factors. They will include your possible life expectancy, the life expectancy or the age of your spouse if included in the plan.

And the amount of the payment you receive will depend on several factors, including your life expectancy and the age of your spouse if you include a spouse in your coverage. It will also depend on the amount you invest in the process. There might also be other issues involved in the process like you may be required to make someone your nominee or if it is a joint plan with your spouse, the age, health condition, and life expectancy of your spouse.