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How will I receive my annuity payments?
Answered By Ammon Yorke, Editor
There are several pay-out methods available to claim your annuity payments. With some options, you or your beneficiaries can select how you want to be paid. The following are some of these:
- You can get income for your entire lifetime even when the money in your annuity account has been used up. It is advantageous because it will maximize the income that you will receive. However, there is a risk involve: when you die, all the money can not be claim even by your assigned recipients.
- Another is the joint and survivor annuity where it pays you lifetime, and after your death, your beneficiary will also be paid for lifetime.
- You can also refund your annuity, meaning your gaining income for life. However, when you die, the portion if the income payments that you have not collected will just be the amount that your beneficiary will receive.
--- permission must be obtained from editor Ammon Yorke to re-publish ---
keywords: Annuities | Annuity | Investing | Income
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