Single Premium Annuities Simple Way to Save For Retirement

New article by InsuranceAgents.com discusses the process and benefits of purchasing single premium annuities.

Chicago (InsuranceAgents.com) – A single premium annuity is the best way to receive a payout without any complications. They are designed to benefit you quickly and even though it is available to you through a life insurance company, annuities are designed to benefit you while you are alive and not your family after you pass away. http://www.insuranceagents.com/single-premium.html In a recent article posted by InsuranceAgents.com, “Single Premium Annuity: An In Depth Look,” they describe why you might need to consider a single premium annuity and the two options available. “This kind of annuity allows you to make a single premium payment, usually ranging anywhere from $5,000 to $1 million, and then you receive a pay out which usually comes in the form of monthly installments,” states the article. Immediate single premium annuities start to pay you after only a month after its purchase throughout the remainder of your life. A deferred single premium annuity also requires a lump sum payment to the insurance company but is tax deferred and gains interest over time. A single premium annuity is designed for those who don’t have much time left and wants to receive benefits immediately in order to enjoy their retirement. If you would like to learn more about how to set up a single premium annuity, contact a licensed life insurance agent. They will be able to answer all your questions and make sure you are getting the benefits you deserve.

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InsuranceAgents.com provides consumers with access to insurance information including articles, quotes, and comparisons. http://www.insuranceagents.com/annuities/