When it comes to annuity rates, the higher the rates will be, the more interest or income you will get. Going online will provide you with a lot of information about various annuities and its rates. By going through the websites available that deal with annuity rates, you can easily get to know about the annuity rates offered by various well-known insurance companies for CD, fixed-interest, equity-indexed, deferred, and immediate annuity contracts.
If you were not aware of various types of annuities available these days, then let us inform you that the annuities which are actually a retirement-planning tool can be of several types. Such as: single or flexible-payment; fixed or variable; deferred or immediate. Though every annuity has its own utility or benefits, yet all of them are designed to be a source of retirement income.
When we say fixed annuity rates, we actually refer to life annuity rates. As the name itself suggests, life annuity offers guaranteed financial security for your lifetime. Unlike life insurance policy, annuity has death benefits. In case you die even before you annuitize, your beneficiary will get either the existing value of your annuity or the amount you have paid whichever is bigger.
Life annuities are considered to be beneficial, as one can choose how often the person wants to receive payments, like on monthly basis, quarterly, semi-annually, or annually. It even gives you the option of regular increases for income, as it made to last for a longer period of time.