What is an annuity? If you are at the threshold of retirement and would like to live rather comfortably in it, you have to think about annuities. It will make sure that you will get your income as long as you live, with your income’s strong purchasing power; annuity insurance will let you save your money for retirement and if you wish, get your income paid either for life or for a definite period of time.

If you decided to purchase an annuity, you have to make a decision how you would like to get your payouts. You can choose to get annuity payouts for a definite period of time or continue for lifetime. As an option, you may assign a beneficiary to get payments after your death.

What makes annuity different from social security retirement payment? The latter pays out your income as long as you live, and annuity is the only one additional available income that continues indefinitely.

Annuity is in investment that protects your assets from creditors. As a rule, creditors assess your payments as they are made, because the money that is paid to the insurance company now is the possession of the company. Some payments or all your payments from annuities are protected by some state statutes and court decisions.