Is It Wise To Invest In Annuities?

Most of us have been hearing the word annuity for the longest time but are not totally aware of the meaning and scope of it, as well as its advantages. An annuity is an investment plan paid in lump-sum or through installment over number of years which in return will be given back to the contract owner monthly or yearly, depending on the agreed term. This is also known as a pension plan that income generating people acquire to provide a solution to their financial needs in their old age.

By nature, in terms of payment, this is almost the same with life insurance plan but this does not provide life insurance coverage. In life insurance plans, you protect your love ones when you pass away, with annuities, you protect yourself to the time when you already outlive your income.

If you are decided to get one, you can find annuity market place online like www.annuityadvantage.com/index.html. There you can choose the best plan that will suit your current earnings as well as the amount of guaranteed income that you need in old age.

Preparing for old age, especially, when we already outlive our income should be on top of our priorities. Let us be responsible individuals, let’s plan our future through this kind of investment and age gracefully and worry-free.

 

18 Comments

  1. January 16, 2013 / 4:59 pm

    This is perfect plan when you are already near retirement and you are right we should be responsible with ourselves so when we get older there’s nothing else to worry and just enjoy life with our love ones.

    • Maica Ocfemia-Figuracion
      January 25, 2013 / 2:21 am

      It’s hard to pass on the burden of old age to our children. So, let’s all be responsible and save up for our future.

  2. January 16, 2013 / 6:04 pm

    It’s nice to have a retirement savings, we have an IRA.

    • Maica Ocfemia-Figuracion
      January 25, 2013 / 2:20 am

      That’s good!

  3. January 16, 2013 / 8:56 pm

    I agree, annuities could be a good idea for those who are planning to buy a new car or a house…i wish i could do the same!

    • Maica Ocfemia-Figuracion
      January 25, 2013 / 2:20 am

      Yes, I hope we can all allocate a certain portion of our income for this kind of plan.

  4. January 17, 2013 / 12:01 am

    we’ve never invested in any kinds of annuities yet but I heard it’s good and you can sell it if you want. I don’t know much about it but thanks for sharing

    • Maica Ocfemia-Figuracion
      January 25, 2013 / 2:19 am

      I was a financial advisor before and I can assure you that saving in this kind of plan really work.

  5. January 17, 2013 / 2:32 am

    it’s always good to think ahead and invest something for our family.

    • Maica Ocfemia-Figuracion
      January 25, 2013 / 2:35 am

      Yes sis! It’s so important to plan ahead for the welfare of our family most especially our kids.

  6. January 17, 2013 / 4:10 am

    For me, it is wise. My sister-in-law has it and when she stopped working at her employer to move to a new one, she was able to get the lump sum of her total envestment. It was so huge. 🙂

    • Maica Ocfemia-Figuracion
      January 25, 2013 / 2:35 am

      I hope we can all get one.

  7. January 18, 2013 / 9:32 am

    I think this is a wise investment. I have that in mind but being a single parent, it just won’t fit in my budget. 🙁

    • Maica Ocfemia-Figuracion
      January 25, 2013 / 2:34 am

      Someday, you can.

  8. January 19, 2013 / 1:48 pm

    we all need them and i wish i have the extra money to get one but for now, st peter plan is good for me.

    • Maica Ocfemia-Figuracion
      January 25, 2013 / 2:29 am

      In time, you can have a separate fund for it.

  9. January 20, 2013 / 4:45 pm

    For me, you can better invest in other things like bonds and stocks.

    I find annuities a little bit risky.

    • Maica Ocfemia-Figuracion
      January 25, 2013 / 2:28 am

      I think it depends on the plan that you will get. Stocks are more risky than annuities.

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