A Few Reasons Why You Should Start Putting Money Into A Variable Annuity Savings Account

By Author: Kiya Mateo
Total Articles: 69
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There are lots of reasons a variable annuity is perfect for your personal circumstances. In fact, a variable annuity is that flexible it can meet a variety of different needs, whether they are financial or just lifestyle requirements.

If you want to find out more about a variable annuity read through a few of the key points below and hopefully you will know more about what a variable annuity could offer you.

An annuity is available with a diverse range of choices, making them the ideal choice for a variety of different personal circumstances. Once example would be that you can choose between a single-life or joint-life annuity. A single-life annuity gives you an income for your life and ceases on your death; whereas a joint-life annuity will continue to pay out to your spouse after your death. You can even select how much money is paid out; as you might want half or even two thirds of the original income to be paid to your spouse. There is even inflation proof annuity.

If you live a unique style of life or are in very poor health then you can take out enhanced or impaired life annuity. This can be particularly ...
... suitable if your lifestyle factors, such as smoking or drinking, makes it possible that your life cycle will decrease compared to the average person. Some of the other medical conditions that may make you eligible for this type of annuity include obesity and various forms of degenerative disorders. Consequently, if you are concerned you may not make it to 75 years old then you can still reap some of the benefits associated with an annuity.

If you do take out an annuity then in the event of your death before you reach the appropriate age your loved ones can benefit from annuity protection. If you choose this option, a spouse of family member can be entitled to a lump sum upon your death. Although, this would be subject to a tax charge; it does however mean that your cash will not be lost and that your loved ones will get some financial support. This feature of an annuity means that it can help your family when they need to pay for your funeral ceremony and can make the entire experience a lot less stressful.

Thanks to a policy you will find that many providers will be able to offer you greater value for money. Therefore if you are looking for a policy then you may want to check what is on offer and look at what is on offer and how it suits you. Firstly, you could speak with your pension advisor, analyse your options and only then look at the market. Generally for your research you may want to speak with different firms or use the help of a web service to list rates and offers. You could use the information on Variable annuities at Investment Sense could be a great starting place.

One of the main positives of a retirement annuity is that it allows you to receive the stability of a fixed income, which you will be given in place of your usual pension This can give you the peace of mind of knowing exactly how much you can spend and live on each month; you will then be in a much more suitable position to budget. Thanks to this, having an annuity is similar to having a fixed wage; which means that you will have the security and safety that you are used to.

The points above should give you an idea of the kind of advantages a variable annuity can offer, which might help you if you are considering beginning a savings account.