Is It Wise To Invest In Annuities?

Most of us have been hearing the word annuity for the longest time but are not totally aware of the meaning and scope of it, as well as its advantages. An annuity is an investment plan paid in lump-sum or through installment over number of years which in return will be given back to the contract owner monthly or yearly, depending on the agreed term. This is also known as a pension plan that income generating people acquire to provide a solution to their financial needs in their old age.

By nature, in terms of payment, this is almost the same with life insurance plan but this does not provide life insurance coverage. In life insurance plans, you protect your love ones when you pass away, with annuities, you protect yourself to the time when you already outlive your income.

If you are decided to get one, you can find annuity market place online like www.annuityadvantage.com/index.html. There you can choose the best plan that will suit your current earnings as well as the amount of guaranteed income that you need in old age.

Preparing for old age, especially, when we already outlive our income should be on top of our priorities. Let us be responsible individuals, let’s plan our future through this kind of investment and age gracefully and worry-free.

 

18 Comments

  • Reply Hyanne January 16, 2013 at 4:59 pm

    This is perfect plan when you are already near retirement and you are right we should be responsible with ourselves so when we get older there’s nothing else to worry and just enjoy life with our love ones.

    • Reply Maica Ocfemia-Figuracion January 25, 2013 at 2:21 am

      It’s hard to pass on the burden of old age to our children. So, let’s all be responsible and save up for our future.

  • Reply Chubskulit Rose January 16, 2013 at 6:04 pm

    It’s nice to have a retirement savings, we have an IRA.

    • Reply Maica Ocfemia-Figuracion January 25, 2013 at 2:20 am

      That’s good!

  • Reply Joy H January 16, 2013 at 8:56 pm

    I agree, annuities could be a good idea for those who are planning to buy a new car or a house…i wish i could do the same!

    • Reply Maica Ocfemia-Figuracion January 25, 2013 at 2:20 am

      Yes, I hope we can all allocate a certain portion of our income for this kind of plan.

  • Reply jheylo January 17, 2013 at 12:01 am

    we’ve never invested in any kinds of annuities yet but I heard it’s good and you can sell it if you want. I don’t know much about it but thanks for sharing

    • Reply Maica Ocfemia-Figuracion January 25, 2013 at 2:19 am

      I was a financial advisor before and I can assure you that saving in this kind of plan really work.

  • Reply Dhemz January 17, 2013 at 2:32 am

    it’s always good to think ahead and invest something for our family.

    • Reply Maica Ocfemia-Figuracion January 25, 2013 at 2:35 am

      Yes sis! It’s so important to plan ahead for the welfare of our family most especially our kids.

  • Reply Rcel January 17, 2013 at 4:10 am

    For me, it is wise. My sister-in-law has it and when she stopped working at her employer to move to a new one, she was able to get the lump sum of her total envestment. It was so huge. 🙂

    • Reply Maica Ocfemia-Figuracion January 25, 2013 at 2:35 am

      I hope we can all get one.

  • Reply Arlene January 18, 2013 at 9:32 am

    I think this is a wise investment. I have that in mind but being a single parent, it just won’t fit in my budget. 🙁

    • Reply Maica Ocfemia-Figuracion January 25, 2013 at 2:34 am

      Someday, you can.

  • Reply melandria romero January 19, 2013 at 1:48 pm

    we all need them and i wish i have the extra money to get one but for now, st peter plan is good for me.

    • Reply Maica Ocfemia-Figuracion January 25, 2013 at 2:29 am

      In time, you can have a separate fund for it.

  • Reply Jadey Sam January 20, 2013 at 4:45 pm

    For me, you can better invest in other things like bonds and stocks.

    I find annuities a little bit risky.

    • Reply Maica Ocfemia-Figuracion January 25, 2013 at 2:28 am

      I think it depends on the plan that you will get. Stocks are more risky than annuities.

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