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Life Only Annuity Payout explainedSummaryIn this 1:00 Annuities Explained YouTube Short, Jeffrey Scott McLeod, LUTC, covers “Life Only Annuity Payout explained.” A lifeonly annuity is only chosen about 2% of the time of all annuity owners according to Limra Life Institute Management Research Association. And it's called a restricted beneficiary payout option. And she just chose life only, not even five years tacked on. So, all he can do is cash that check every month Insurance education only—not securities advice. Key takeaways
From the NAIC Buyer’s GuideWhen you start income, annuity payout options can include payments for life, for a period certain, or combinations described in the contract. The 2022 guide lists payout options and questions to ask before you buy. The 2022 NAIC Buyer’s Guide for Deferred Annuities explains that an annuity is a contract with an insurance company. With an annuity, the insurer promises to pay income on a regular basis for a period you choose—including the rest of your life. Immediate annuities begin payments soon after purchase; deferred annuities begin at a later date you choose. Most deferred annuities have an accumulation period and a payout period. Source: NAIC Buyer’s Guide for Deferred Annuities (2022). The guide does not endorse any company or policy. For your state insurance department, see www.naic.org. Questions about fixed index annuities? Call or text 501-658-9882 · Book a time on the calendar Insurance-only disclaimer Jeffrey Scott McLeod, LUTC, is a licensed insurance producer. Content on this page is educational and discusses insurance products only—not securities, brokerage, or investment advisory services. Texas license 901162. Arkansas / National Producer Number 558629. Product availability, rates, and features vary by state and insurer. Read the NAIC Buyer’s Guide and the insurance contract before you buy. More videos |
Jeffrey Scott McLeod, LUTC — Licensed insurance producer. Texas license 901162. Arkansas / National Producer Number 558629. Insurance products only; not securities or investment advisory services.
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