The working years are usually characterized by energy, confidence and financial security. While the very thought of retirement conjures up doubts about one’s finances and lifestyle. It is easy to secure the financial stability of your golden years by investing in annuities. There are many different types of annuities that offer varied terms and conditions to investors but the basic purpose of annuities is to provide a regular source of income after one has retired. Some of the annuities offered by insurance companies include immediate annuities, fixed annuities, equity-linked annuities, deferred annuities, etc.

As the name suggests, after a certain number of years the lifetime annuity provides income to the investor or investors for the rest of their life. Those who wish to remain worry free about their money finishing off before their life ends prefer it. The amount received from a lifetime annuity is dependent on several factors:

The concept of lifetime annuities is a fairly old one and was in existence in the Roman Empire also. At that time, on making a one-time payment to the government, citizens were assured an annual pension for the rest of their lives.

How can Lifetime Annuities be used to create a personal retirement plan?

By making systematic contributions towards an annuity over a period of time one can create a personal retirement plan that will provide income once the annuitant retires. Investment in lifetime annuities helps individuals live independently and confidently. The amount of income one desires from the lifetime annuity can be used to decide the amount a person would have to invest on a regular basis. This is the only investment vehicle that promises to pay out an income for your lifetime. The lifetime annuity is tax deferred. Thus you don’t pay tax yearly on your gains but pay it only when you are ready to receive income from the investment or withdraw from it. This way your investment compounds at a better rate than traditional investments such as CDs, which are taxed yearly.

Lifetime annuities can be bought jointly and in case of the death of one partner the other continues to receive income from the annuity. Some of the advantages of investing in lifetime annuities to create a personal retirement plan include:

A personal retirement plan empowers you to live your life on your own terms and conditions, even after retirement. Get ready to invest in a lifetime annuity, today.