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see insuranceinsurance
or assurance,
device for indemnifying or guaranteeing an individual against loss. Reimbursement is made from a fund to which many individuals exposed to the same risk have contributed certain specified amounts, called premiums.
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If the annuity payout is to be on a variable basis, however, the amount annuitized (either a lump sum, in the case of an immediate variable annuity, or, in a deferred variable annuity, the current value of the accumulation unitsthe owner wishes to annuitize) is not converted to a fixed income stream by applying an annuity payout factor.
For those owners who never intend to annuitize, but instead are using annuities to minimize current taxable income with plans to eventually pass this wealth to the next generation, a tax trap awaits.
Starting in April 2015, plan members no longer will be required to annuitize and will have more flexibility in withdrawing funds from their pensions.
10% Percentage of people who annuitize after leaving their job after age 65.
First, the three considerations respondents report as being most important for their decision about whether or not to annuitize include: a desire to "make sure I have enough income later in life" a desire for "flexibility in the timing of my spending" and being "worried about [the] company not being able to pay me in the future." The authors point out that insurance companies are currently banned from mentioning government insurance of annuity payments, a policy that may reduce annuity demand.
This can be referred to as "annuitize part and invest the rest," and it may be help retain liquidity while eliminating their fear of outliving assets.
In this short space, I'll try to convey how Otar determines who will need annuities and, if they do, how much money they should annuitize.
I will then discuss why I believe most pensioners need an annuity and when pensioners should annuitize. Then I'll provide some comments on investment considerations.
G should annuitize her deceased husband's existing tax-deferred variable annuity.
The minimum "bullet-proof" asset transfer is the amount a financially sound insurance company would charge to annuitize the spinoff benefits, because an annuity purchase would be necessary if the plan were to terminate.
pensioners to annuitize DC balances, a development that's unlikely to occur in the United States.