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Future Income Payments > Retirement Annuities

Retirement Annuities

With baby boomers approaching retirement age, more and more investors are interested in retirement annuities. A retirement annuity is an agreement whereby the insurance company makes specific guarantees in exchange for money deposited with the company. With immediate retirement annuities, you make a one-time payment and distributions typically begin within 30 days.

A retirement annuity can be fixed or variable. With a fixed retirement annuity, your income payments will never change and are based on the amount you contribute, your gender, age and the interest rate environment at the time of purchase.

When considering retirement annuity options, a retirement annuity calculator is a handy tool to have. You can find a retirement annuity calculator online and use it to figure out what your monthly income would be according on what you have to invest.

Retirement annuities can provide reliability and security. If you are about to stop working, retirement annuities may be a good place to deposit a large sum of money that you accumulated through a deferred annuity, a retirement plan or other savings vehicle.

A retirement annuity can be purchased with funds from a variety of possible sources, including a maturing CD, money that accumulated in a Deferred Annuity account or IRA. A retirement annuity is definitely one of the best options if you are worried about outliving your income.


The downside of a retirement annuity is that your contract with the insurance company is irrevocable. You cannot convert the monthly payments back into a lump sum of cash unless you sell your retirement annuities.

You may have done everything right. You may have looked at your retirement annuity options to determine the optimum investment and used a retirement annuity calculator to determine the optimum rate but even the best retirement annuity calculator cannot predict a change in circumstances

Sometimes it is necessary or desirable to have a lump some of cash in preference to a reliable income stream. Consider the following circumstances:

  • Your become disabled and your house must go through major renovations to fit your new accessibility needs
  • You have an opportunity to retire to a nicer and less expensive home, that’s closer to your grandchildren, but only if you can come up with a lump sum for a down payment and moving expenses.
  • You’ve just learned from the doctor that your spouse has a limited time to live. You’d like to enjoy the time you have together to the fullest.

Even in such extreme circumstances you cannot get your original investment back from the insurance company that sold you your retirement annuities. In such circumstances though, if you own a retirement annuity, you do have options. can help. Call us at 800-306-9841 or simply fill in our online form. Our team of experts are ready and eager to help you get the lump sum of cash you need or want.

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Annuity Sales Resource Center
You have every right to cash out your annuity for a partial or lump sum payment. Learn more about selling your annuity for lump sum cash. Sell Annuity Payments