This is a single-premium annuity product in which income payouts commence no later than 12 months (exactly 1 year) after issue. You can choose between guaranteed lifetime income, or guaranteed income that stretches over a number of years (5-25 years). There’s also a variety of optional payout methods that make it easier for you to find a plan that matches your custom needs.
The key reason why a lot of people prefer single-premium immediate annuities is because they’re dependable and predictable. Effectively, this kind of annuity makes retirement planning much easier. Some benefits of American Equity Single Premium Immediate Annuity are:
- Payouts start no later than 1 year after issue.
- There’s a guarantee that income will not decrease, whether or not there are interest rate fluctuations.
- There are a variety of income options available to match your precise needs.
- Once the annuity has been issued, payments roll out as specified and there’s no room for changes. This makes planning easier.
- With American Equity Lifetime Income Annuity, you can select a plan that contains:
- Monthly, quarterly, semi-yearly or yearly income modes
- Single or joint life option for income
- Guaranteed income for life, or over a specified period of time (5-25 years)
