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Lifetime annuity vs fixed term annuity.
Storeman232
Posts: 4 Newbie
Hi, my fixed term annuity ends just before my 77th birthday.
Then, using the maturity value I was planning to buy either a 5 or 10 year fixed term annuity.
I was wondering though, due to my age, general life expectancy, and a couple of health issues, could purchasing a lifetime annuity actually pay out a monthly income more than a fixed term annuity?
All advice very much appreciated.
Then, using the maturity value I was planning to buy either a 5 or 10 year fixed term annuity.
I was wondering though, due to my age, general life expectancy, and a couple of health issues, could purchasing a lifetime annuity actually pay out a monthly income more than a fixed term annuity?
All advice very much appreciated.
0
Comments
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You will only know for sure by requesting quotes.
As your current fixed term annuity clearly has a terminal value, are you planning to do this again?
If so, you may find a lifetime annuity with no terminal value will give you much more income. Time to request a few quotes I think.2 -
As Lowtrawler says, just get some quotes for the various types of annuity and see which suits you best.
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