Annuity contracts offer numerous options to receive your accumulated funds as retirement income.
One option rarely used is the interest only option. At any time you can withdraw the earned inertest on a monthly basis. This allows for your account value to remain the same each month as you withdraw the monthly interest.
As an example if your account value was $100,000 and the interest paid was 5%, you could withdraw a monthly interest check of $416 without invasion of principal. The value to this option is deferring any permanent decision until a later time period. The interest income option is cancellable at any time so total control is maintained.
For mroe information regarding Annuity Payout and/or Lifetime Income Options, call us at 602.795.6270.
Contributors: Askmrannuity.com, annuity.com
