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If you are thinking of investing in any kind of annuity for retirement, there is always the need for you to know some details about it.  Immediate annuity is one of the basic kinds of annuities you can invest in.  It can actually be the best solution to the long-term care you have been looking for. You need to know more about this investment option.

Actually, immediate annuity as a unique kind of annuity for retirement gives you the opportunity to turn the money you keep aside for retirement into profitable retirement income.  You simply enter into a contract with an insurance company by giving them a lump sum of your money, which is also known as the Premium.  In return, the company guarantees you a steady flow of income payments for a specified period agreed upon. It can be for your entire life or for several years into your retirement.

Unlike deferred annuity, the immediate annuity starts paying once you have made the initial investment.  It can actually be a solution to long-term care when it’s paying well.   It usually provides a secured way of receiving enough income from   your investment.  The income payments begin to flow in once you purchase the immediate annuity.

It’s good you know that purchasing the immediate annuity requires you present a one-time premium payment.  You can purchase a single immediate annuity premium with the funds you receive from IRAs, 401 (k) plans, Savings accounts, Real Estate and other sources.  You simply invest the money and then sit down to watch it work for you even while you sleep during your retirement period.

Once you have made the initial one-time premium investment, the insurance company guarantees you immediate payment on a monthly, quarterly, or yearly basis.  It all depends on the terms of the contract and how you want the payments to be made. You can choose to receive the payments monthly, quarterly,   or yearly. The choice is yours to make.  The first payment may begin in 30 days or after the first year.

You can use the income payments from immediate annuity for long-term care and other needs you may have. As a unique form of annuity for retirement,   the income payments you receive from immediate annuity can help you a great deal.   You can use the payments to take care of yourself all through the retirement period.  You can also use the payments to supplement your regular pension plans or social security   plans.

Really, immediate annuity can be a solution for long-term care only when you understand how it works.  In the first place, you need to enter into a binding contract with a good insurance company that offers this kind of annuity for retirement.  It’s good you know the details of the annuity including any other charge that may be involved.  If you are confused about the entire process of investing in the annuity, you can seek proper advice. Immediate annuity is never for everyone who is planning to retire. You really need to discover if the option can suit your retirement plan or not.