Annuity

Current Rates, News & Information

New York Life Insurance Company has made some impressive leaps and bounds in 2009's first quarter by ranking number 1 in income annuities and number 2 in total annuity sales. The number 2 ranking in total annuity sales represents a leap from number 13 one year ago, while the company has maintained its status as number 1 in income annuities since 2006.

The good news for New York Life represents more than a victory for the company alone. It also represents a victory for the economy. It means that while we're still in the middle of a tough recession where millions of jobs and homes have been lost, Americans are still finding the financial strength to put some money away for their retirements. Not only that; they are finding that they can somewhat trust the idea of retirement savings.

We still have a ways to go before the economy will recover. But it's good to know that small steps in the right direction are obviously being taken by citizens. The numbers just don't lie. For New York Life, investment annuities are up 91 percent from first quarter of 2008, while income annuities are up 76 percent.

People are slowly but surely finding the courage to take chances for their retirements. So what about you? Do you feel that the time is now to get back into the game by put some of your money into annuities?

Saving for your retirement is something you need to take seriously, if you aren't thinking about it already. The day you retire will be here before you know it, and when it comes you're going to start enjoying your freedom - at the exact same moment that you stop getting a paycheck. Freedom is a truly wonderful thing, but freedom without money is not. So, you want to do what you can to save money and put it aside for life after retirement. One way that people save money is by putting their money into a life insurance annuity. Life insurance annuities are the result of paying monthly premiums year after year into a permanent life insurance policy.

Permanent Life

When you take out a permanent life insurance policy, you pay money every month to protect your loved ones in case you suddenly die. Grieving your loss will be hard enough as it is without having to worry about the mortgage while they're at it. As time goes by, the money in your life insurance account accrues, and under some life insurance plans you can earn interest on this money, or invest it in the stock market of other financial markets.

Annuities

When you get older, you can start getting the money back in the form of life annuities. These annuities are you getting your principal back with interest, and every time you get a life annuity payment you are decreasing the death benefit that the beneficiary or beneficiaries that you've named on your life insurance policy will receive. Hopefully, your dependents will be standing on their own two feet by the time you are old enough to start getting your life annuity.

To learn more about life insurance annuity facts, be sure to consult with a life insurance annuity expert or a financial adviser.

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Annuity Basics

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Life With Period Certain Annuity

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