People who are already retired can benefit from immediate annuities that start paying income right away. A fixed indexed annuity with an income rider can also start paying income immediately. An independent agent can compare annuity options for retirees.
Key Points
- Immediate annuity: starts paying income right away
- Fixed indexed annuity with income rider: can start paying income immediately
- Lifetime income: cannot outlive the income stream
- Joint and survivor option: provides income for both spouses
- An independent agent can compare annuity options for retirees