Life annuities and temporary annuities are very relevant products in terms of savings managed by Erie Insurance companies. They accumulate around 87,259 million euros from more than 2.2 million policyholders. Added to these clients are around 18,000 people who, after the latest tax reform, have transformed their assets (a house, a parking space, a taxi license, etc.) into an income for life.
Life annuities are savings decumulation products; This means that they take a previously constituted savings, and with it, they build a flow of periodic, regular, and lifelong payments. This makes them interesting products for people who have a savings bank when they reach 65 years of age, or sell a good that brings them resources, and want an insurer, making a profit on their savings, to guarantee a payment newspaper for the rest of his life. Live what you live.
Being for life is the main characteristic of guaranteed income. But, in addition, do you know that they are products with customization options? You can choose how you want it and when you want it.
An annuity is for life.
Life annuities are savings decumulation products; This means that they take a previously constituted savings, and with it, they build a flow of periodic, regular, and lifelong payments. This makes them interesting products for people who have a savings bank when they reach 65 years of age, or sell a good that brings them resources, and want an insurer, making a profit on their savings, to guarantee a payment newspaper for the rest of his life. Live what you live.
Being for life is the main characteristic of guaranteed income. But, in addition, do you know that they are products with customization options? You can choose how you want it and when you want it.
You decide who you want to transfer your income to
If you are not alone in the world and you are worried that your partner will be abandoned when you are absent, you can look for a type of annuity with reversion. Reversion means that the insurer’s commitment to periodically pay an annuity “passes” to another designated person in the event of the beneficiary’s death. In this way, then, you can leave your partner covered.
An annuity can be as flexible as you want
In the event that you consider that you are going to have different needs during the period that you collect the rent, you can select it so that it has different payment intensities over time. Take, for example, someone who purchases an annuity shortly after retirement. At the time he begins to receive it, his public pension reasonably covers his needs, and he considers that he does not need a significant additional contribution. However, this person is concerned that, when 10 or 15 years go by, he will be older will have specific needs (treatments, caregivers…) that, perhaps, make it advisable to charge more money at that time. For all these reasons, the saver, when buying the rent, can choose to allow this change in the amount of the periodic payment.
You decide if you want your savings to have heirs.
If you have descendants and want to leave them an inheritance, you can also look for types of annuities with inheritance or what is technically called counterinsurgency. Counterinsurgency is, basically, the insurer’s commitment that, upon the death of the beneficiary of the annuity, those persons designated by him (his heirs) receive an amount related to the savings with which that person bought the annuity. Counterinsurgency is made up of different percentages of that savings. It depends on the conditions of the contract.
