Manage episode 323522675 series 2798004
In this episode, The Annuity Man discussed:
- Annuities are customizable
- An example of life with cash refund
- What does it mean to get a joint-life policy
- Options and choices when getting an annuity
- A life-only contract means that the annuity company is on the hook to pay as long as you’re breathing, but the money goes away when you die.
- Life with cash refund means that you get paid while you’re alive, with some money going to your beneficiary when you die.
- A joint life policy means that you and your spouse will receive payments. When you die, their income continues uninterrupted and unchanged.
- There’s not just one annuity, there are many kinds, and there are also a lot of options when customizing your contract.
"I want you to understand what you’re buying and how it works ‘cause remember, an annuity is a contract" — Stan The Annuity Man.
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