Facts And Features Of Annuities: Part 2, Variable Annuities
September 17, 2019 by Bob David
Recently, it was my wish to help people understand more about annuities. For a more rounded understanding of this article, it’s important to read part one of this article on index annuities first. In part two of our basic overview of annuities, we’ll be discussing variable annuities, some of the benefits, and how they may help your overall financial picture.
For starters, a variable annuity is a long-term financial contract that can be purchased through single, or multiple, premium deposit(s).
Riders and benefits
These annuities can be purchased with or without an income rider. Paying an additional fee for an income rider can often guarantee income for life for the annuitant, with a survivor’s benefit in a joint contract to the spouse. Without the income rider added at the time of purchase, the variable annuity lifetime income for the annuitant is limited to annuitization with no spousal death benefit.
Click HERE to read the full story via Forbes.
