Types of Annuities
Lifetime Income Annuities Explained
Lifetime income annuities are designed to do one thing exceptionally well: pay you a guaranteed income for as long as you live.
What Is a Lifetime Income Annuity?
Any annuity structured to pay you (and optionally your spouse) for life. This includes immediate annuities, deferred income annuities, and annuities with Guaranteed Lifetime Withdrawal Benefit (GLWB) riders.
How They Solve Longevity Risk
Outliving savings is one of the most common fears among retirees. Lifetime income annuities directly address that risk — payments continue regardless of how long you live or how markets perform.
Common Structures
Single life, joint life with survivor benefits, life with period certain, and refund options. Each has different income trade-offs.
Why They Matter Emotionally
Knowing a portion of your income will arrive every month for life — no matter what — reduces anxiety and frees retirees to enjoy their savings rather than fear spending them.
Who They May Fit
Almost any retiree without a traditional pension, especially those who want to cover essential expenses with guaranteed income they can count on for life.