Monday, January 21, 2008
Income annuities more insurance of money for life than investment
Humberto Cruz: I'm still getting e-mails, more than 300 so far, about a September column on immediate-income annuities that increase payments each year to compensate for inflation.
Immediate-income annuities are policies issued by insurance companies that, in exchange for a lump-sum premium, can guarantee an income for life. Many financial advisers recommend retirees consider using a portion of their savings to buy a lifetime annuity to cover basic expenses, such as food and housing.
Dozens of you had never heard of income annuities, and several said your insurance agent couldn't find any that increase payments to counteract inflation. If so, find another agent...
Chicago Tribune: Income annuities more insurance of money for life than investment
Immediate-income annuities are policies issued by insurance companies that, in exchange for a lump-sum premium, can guarantee an income for life. Many financial advisers recommend retirees consider using a portion of their savings to buy a lifetime annuity to cover basic expenses, such as food and housing.
Dozens of you had never heard of income annuities, and several said your insurance agent couldn't find any that increase payments to counteract inflation. If so, find another agent...
Chicago Tribune: Income annuities more insurance of money for life than investment
Permalink posted by markw @ 4:39 AM 
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