Annuitize | Annuities

Posts tagged "annuitize"

Should You Annuitize your Insurance Annuity?

What does it mean? Put simply, to annuitize is to start taking payments from an insurance annuity that may have been accumulating for some time. Specifically, you “trade” the accumulated annuity balance for a stream of payments over a specific term of years or life (a life annuity). An annuity, a policy that is paid into either by lump some or regular payments by the policyholder, and gains value via investment of those funds by the insurance company that holds the policy, in a manner agreed between the two parties, has many terms attached when it is created, and there may be an option to annuitize at a certain point or date set at the start of the insurance annuity agreement. What happens when I annuitize? When, and how, the policy becomes annuitized is determined by the rules and terms that are agreed by the policyholder with the insurance company, and these can be varied and dependent on many different factors. If the policy has a number of different options at which annuitization can take place, then it is up to the policyholder to decide what is best for him or her. In many cases, if the insurance company does not hear [...]

Financial Worries? Some Solutions for Seniors

Do you find yourself worrying about your finances? While you may think of your situation as unique, you may in fact be among the majority of seniors wtih financial worries. A recent survey by the publishers of Senior Market Advisor Magazine revealed several seniors’ responses to the question “How much do you worry about money?” A little 45% More than I should 27% A lot 20% Keeps me up at night 5% Never 3% Source: Senior Market Advisor, Senior Survey 2005 (July 2005) If the same poll were taken today, there would likely be many more who answer that financial worries are at the top of their worry list. Notwithstanding these statistical findings, financial worries do not have to control you. A more secure retirement is possible, with smart and prudent financial planning solutions to these common retirement worries: Retirement Savings Shortfall Upon reaching retirement, some seniors are surprised to discover that their retirement savings will come up short–an obvious source of financial worry. Instead of pursuing leisure activities, they find that they must curtail their spending habits in order to make their savings last. However even in retirement, you can put your savings to work for you with [...]