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Annuity Distributions
Annuitydistributions are categorized in two ways: withdrawals or annuitization(guaranteed income stream). The annuity contract itself explains theannuitization payout options available to you, including when they begin, whether the amount can be fixed or variable, and how long the payouts willlast. Note: Guarantees are subject to the claims-paying ability of the issuing insurancecompany. Annuities are not FDIC insured. When the money starts rolling inAnnuitypayouts may begin immediately or may begin many years after you purchase anannuity. This is the difference between deferred and immediate annuities. Deferred annuities allow premium payments to grow with tax-deferred investmentearnings. Later (often after retirement), the annuity proceeds are distributedas either withdrawals or annuitization payouts. Immediate annuities, on theother hand, are funded with a single, lump-sum payment. As the name implies, payouts begin within a year under an annuitization payout option. Immediateannuities are used to convert a lump sum of cash to an income stream. Same old story. sometimesAnnuitypayouts may be fixed or variable,[link widoczny dla zalogowanych], depending on the type of annuity contract. The amount of each payment will depend on how much money is in the annuity andhow long payouts are expected to continue. If the payout is fixed, the paymentwill be the same each payment period (e. g., monthly, annually). If the payoutis variable, the amount will fluctuate depending on the performance of theunderlying investment portfolio. Some annuity contracts may guarantee a minimumfixed payout, with the possibility of an additional variable component if theunderlying investments perform well during a given period. A note about variable annuitiesVariableannuities are long-term investments suitable for retirement funding and aresubject to market fluctuations and investment risk including the possibility ofloss of principal. Variable annuities contain fees and charges including, butnot limited to mortality and expense risk charges,[link widoczny dla zalogowanych], sales and surrender (earlywithdrawal) charges, administrative fees and charges for optional benefits andriders. Variableannuities are sold by prospectus. You should consider the investmentobjectives, risk, charges and expenses carefully before investing. Theprospectus, which contains this and other information about the variableannuity, can be obtained from the insurance company issuing the variableannuity, or from your financial professional. You should read the prospectuscarefully before you invest. Certainriders and options relating to immediate annuities may be available for anadditional fee or charge, depending on the issuer. Read the annuity'sprospectus or contract for a description of the available options andassociated fees and charges, if any. Payouts for life? More or lessMostannuities provide the option of receiving payouts for life. However, it'spossible to get an annuity with payouts that last for a shorter or longerperiod of time. If an annuity's payout period is "certain, " itprovides payouts for as long as you live, but includes a minimum payout period(e. g., 10,[link widoczny dla zalogowanych], 15, or 20 years) even if you don't live that long. If you die duringthe "period certain, " payments will continue to be made to yourbeneficiary for the remainder of the guaranteed period. You can also choose apayout option that distributes all of your annuity value over a fixed period orone that pays a fixed amount each period for as long as there is money in theannuity. Whose life is it, anyway? It'spossible to set up an annuity so that it provides income over the life of twoindividuals. This is known as a joint and survivor annuity. Joint and survivorannuities are designed to provide income based on the life expectancy of twopeople. When one person dies, the annuity provides income for life for a secondnamed individual. In some cases, the payments on the second life may be lessthan the payments on the first life. In most cases, however, payments made onthe life expectancy of two people will be less than payments made on a singlelife. Take what you're given,[link widoczny dla zalogowanych], or take what you wantInaddition to all of these annuitization payout methods, you may choose simply towithdraw money from your annuity when needed. Once the policy has been in forcefor a certain number of years, most annuity issuers will allow withdrawalswithout paying a surrender charge. However, these payments are subject toincome tax, and if taken before age 59?, the portion of withdrawalsattributable to earnings is also subject to a 10 percent early withdrawal tax(unless you meet one of the exceptions allowed by the IRS). Annuitiesmay be subject to early surrender charges which can reduce the amount of yourwithdrawal. Written byLife Insurance Calculator | Life Insurance Companies: BeamaLife.Topics related articles：

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