Immediate Annuity
Vasilios "Voss" Speros
You may choose to enter into an
annuity contract with an insurance company to help pay for Long-Term Care
services. In exchange for a single, the insurance company will send you an
annuity, which is a series of regular payments over a specified and
defined period of time.
If you have an immediate Long-Term Care
annuity, the insurance company will send you a specified monthly income in
return for a single premium payment.
This option is available regardless of
your current health status. If you do not qualify for Long-Term Care
Insurance because of age or poor health or if you are already receiving
Long-Term Care, you can still purchase an annuity.
The insurance company converts your
single premium payment into a guaranteed monthly income stream for a specified
period of time or for the rest of your life. How much you receive in income
each month depends on the amount of your initial premium, your age, and
gender. Since women tend to live longer than men, women generally
receive a smaller monthly payment over a longer period of time than do men
of the same age.
source:
Vasilios "Voss" Speros 602-531-5141 LinkedIn
No comments:
Post a Comment