New York Life will continue to pay out a dividend on its Mutual Income Annuities
The product offering includes deferred variable annuities, immediate fixed income annuities
, fixed deferred annuities with guaranteed life withdrawal benefits and deferred income annuities
QLACS, which are income annuities
that start on or before age 85 to protect against running out of money if a participant lives longer than he expected;
In 2016, fixed immediate income annuities
grew 1 percent to $9.
These plans can now purchase deferred income annuities
where an annuitized payout can start as late as age 85.
Now, however, some well-prepared clients have a new option in using deferred income annuities
to double the otherwise available payouts late in life, when the risk of outliving savings is the greatest--by choosing a no-refund deferred income annuity.
The emergence of deferred income annuities
over the past few years is a perfect example.
Do consider immediate annuities and deferred income annuities
(''longevity insurance''), though, which can work well in some retirement plans.
As boomers approach retirement and life expectancies increase, longevity income annuities
can be an important option to help Americans plan for retirement and ensure they have a regular stream of income for as long as they live," Iwry said.
An official with the Treasury said, 'As boomers approach retirement and life expectancies increase, longevity income annuities
can be an important option to help Americans plan for retirement and ensure they have a regular stream of income for as long as they can live.
And deferred income annuities
really do the best job at maximizing money today for future income later.
In an otherwise muted annuity sales market, deferred income annuities
are a growing, albeit still small, niche.