“36.3 million -- The number of people 65 and over in the United States on July 1, 2004. This age group accounts for 12 percent of the total population. Between 2003 and 2004, 351,000 people moved into this age group.”
Census Bureau for Older American Month
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Key Features To Consider:
Simplicity - Place
your initial premium into this type of annuity and once you hit the
predetermined payout age, you begin receiving income from the plan.No market fluctuations to worry about!
Pricing Discount - Initial
premium required can be significantly cheaper than other deferred annuity
options that you later convert to an income stream.See the following example:
Name
Current Age
Payment Start Age
Monthly Income Payment
Initial Deposit (Longevity Annuity including aReturn of Premium feature*)
Initial Deposit (Standard Deferred Annuity)
Miguel
60
80
$3,742
$100,000
$147,000
Miguel
60
85
$7,324
$100,000
$195,000
Maria
60
80
$3,253
$100,000
$135,000
Maria
60
85
$6,152
$100,000
$172,500
*Return
of Premium feature allows your beneficiary to receive a refund of premium up to
the amount you initially deposited should you pass away prior to receiving at
least the amount you deposited.See
specific contract rules for further detail.
