Is the retirement annuity a good deal for the retirees?

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<h1>Is the retirement annuity a good deal for the retirees?</h1><strong> Author: <a href='http://www.articleseen.com/profile_Robert Maddy Cooks.aspx'>Robert Maddy Cooks</a></strong><br /><p>Whatever you do in life, having a proper planning for all that you do is extremely important for all in life. Having a proper financial plan is important since it enables people to get a life without the worries and hitches of the financial condition of life. If you are one such person who plans each thing meticulously then the best thing for you to do while you are still employed is to invest in the retirement annuity. Of all the various annuities available in the market, the best one would undoubtedly be the deferred annuity. Making an investment in the deferred annuity can provide you with an extra income after the retirement since most of the time, only the pension is not enough to sustain a good and a decent lifestyle. The annuities can offer you guaranteed income after your retirement. There are several benefits of the annuities that you can get when you invest in such plans. You must accumulate a certain amount of money for a specific period of time. You can either deposit the amount in one lump sum or pay in regular monthly instalments as per your convenience. The period in which the money gets accumulated is also known as the deferred time. Once this deferred time is over, your annuity gets matured and then the insurance company would pay you back the matured amount. In case you die during the deferred time, then the premiums which were paid earlier by you on the basis of instalments become refundable. However whether the refund amount is taxable or not depends on many circumstances and is decided at the time of payout. In case after your death, any member of your family wish to give up the retirement annuity, then too he can do that immediately. In case of the deferred annuity, there are mainly two phases, the saving phase or the accumulation stage and the income phase in which you can withdraw the money once it gets matured. In case of withdrawals too, you can either take the amount in one lump sum or choose to take it in regular monthly instalments. The later is a popular choice since it provides you a daily income on a monthly basis. That way you would also be able to make and stick to the monthly home budget. The best thing about this retirement annuities is that the tax is not applicable on the investment unless you withdraw the amount.</p><strong>About the Author:</strong><br />Robert Cook is a business consultant who has good information on <a rel="nofollow" href="http://www.totalreturnannuities.com/annuity-deferred//">deferred annuity</a> and <a rel="nofollow" href="http://www.totalreturnannuities.com/retirement-annuities/">retirement annuities</a> . For more information on these he recommends you to visit <a rel="nofollow" href="http://www.totalreturnannuities.com/">www.totalreturnannuities.com/</a> .<p> Article Source: <a href='http://www.articleseen.com/Article_Is-the-retirement-annuity-a-good-deal-for-the-retirees_134693.aspx'> http://www.articleseen.com/Article_Is the retirement annuity a good deal for the retirees?_134693.aspx</a></p>

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Keywords : retirement annuity, deferred annuity,

Category : Finance : Finance