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With Life Annuity, Assure of Getting Lifetime Income
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Posted On :
Jan-04-2012
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Article Word Count :
431
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After retirement, financial problems of the senior citizens increase to a great extent. It is because of this reason that life annuity schemes have been introduced. With the help of this, the lives of the old individuals are made convenient. To compute the amount, however, annuity calculator is used.
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A dependent life looks very odd to those who lived with a head high in the society throughout their service tenure. Such a stage of dependency comes in when these individuals retire from their professional responsibilities. Retirement, of course, offers a huge amount of money to the retirees as pension, but when they start receiving it, they find it insufficient in meeting many of their essential needs/ With the schemes of life annuity, however, the individuals are provided a great support for future in the form of regular stream of income. Thus, availing the facilities of life annuity is recommended to the people in that case.
As the name itself coveys, life annuity has been designed so that the retirees could avail the benefits till their last breath. It is a scheme that once enrolled lasts throughout your life. The annuity schemes are offered by the insurance companies and it is this source that credits interest to the amount that is present in your account. You just need to sign an agreement with these companies and start availing the facilities. Once you invest in a life annuity, you are subject to receive the best income during your post-retirement stage. If you save a proper amount of money during your services life, you can easily buy these schemes with that lump sum.
Some of the benefits or features of the life annuity are as follows:
Pay the lump sum and buy a life annuity scheme. You can simply chose from variety of plan based on your convenience and suitability.
Outliving of money must be avoided. This is because you not really know the time till which you will remain alive. So be careful.
The situations that the retirees go through have been studies minutely and to help people bear those circumstances conveniently, plans with varied rules and benefits have been introduced.
You get a chance to earn a stable income through this type of annuity. However, the amount is calculated on the basis of what results the annuity calculator provides.
The effect of inflation is hardly seen as far as the amount of life annuity is concerned.
The scheme or schedule of taxation is favourable.
In case of life annuity, tax reduction is also a provision for the retirees with 65 or more in age.
Thus, if you really desire to make your post-retirement life convenient, life annuity is a perfect option in that case.
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Article Source :
http://www.articleseen.com/Article_With Life Annuity, Assure of Getting Lifetime Income_128265.aspx
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Author Resource :
Robert Cook is a business consultant who has good information on life annuity and annuity calculator. For more information on these he recommends you to visit www.totalreturnannuities.com/.
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Keywords :
annuity calculator, life annuity,
Category :
Finance
:
Investing
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