Once you purchase a pension annuity plan, it pays you an income for the rest of your life. The annuity plans are the policies that coadunate you into the rente charges that are offered to you by various financial institutions at that time you might swallow purchased it. The pay out amount of the pension rente plan usually depends on a lot of factors some of which include:
The total amount you have in your annuity fund.
The vicinity where you reside.
Your gender, age and the status of your heath.
The benefits you choose to buy lock up your annuity plan like a continuing pension now your spouse etc.
What are the various pension annuities available that I can consider opting?
Commonly there are three pension annuity options:
Single-life or Continuing life
Level and escalating pension annuities
Continuing life or Single-life Pension Annuities:
Single life pension annuity is whereas a individuals who want to buy an annuity rush only because themselves where as the pension annuity can also outlast to a companion after one