I have a question for someone getting a lifetime payout from there annuity. I have deferred annuity with two more years to go. It says that your payout can increase with interest on your account. I was wondering if anyone has has received an increase. I’m very skeptical on this because mine has performed very poorly so far.
Lifetime payout question
- Thread starter Lundprov
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Not enough info
Why do you say it has 2 more years? Are you 98 years old, or do you mean that your locked in interest rate changes in 2 years?
What kind of annuity? Fixed, Indexed or Variable
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- 4,882
You can likely continue to keep it deferred after 10 years. Likely the surrender charge period ends at 10th year.
You will need to likely get your exact contract information showing exact insurance company, exact product name & exact riders & features to figure out the answers to the questions. Way too many variations between product types, riders, income riders or turning into actual irrevocable payout Annuity.
Contact your agent or find a reputable one that is contracted with the company that issued you the policy
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222?
360?
You'll probably get increases because you just have to earn any interest in distribution, not exceed the PIV with account value (which is how a lot of products used to work back in the day).
These products (IMHO) were built for income, not accumulation (even though they were sold for account growth).
