Get More Income From Your Life Annuity
A life annuity works a bit like a combination of a term life insurance policy and a typical annuity in that you can make regular payments towards the policy, and once the "distribution phase" begins, usually when you retire, you then receive an income until death.
The way in which a life annuity differs from a typical annuity is that you pay into it directly and build an annuity fund rather than accrue a pension fund separately and then buy an annuity at or shortly before the point at which you start to receive income at retirement.
In the same way as typical annuities, impaired life annuities are available, as well as fixed life annuities, variable life annuities,guaranteed life annuities and joint life annuities.
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