1. A common use for an immediate annuity might be to provide a pension income. 2. That's because the single-premium fixed immediate annuity ( explained below ) is our magic bullet. 3. With immediate annuities , a owner pays a lump sum and the insurance company begins making payments soon after. 4. Immediate annuities start paying an income immediately ( actually 30 days ) after the total premium is paid.5. Immediate annuities protect against this risk.6. You can cash in on your annuity by taking a lump sum at the end, except for immediate annuities . 7. Prior to 2016, the company offered several annuities : fixed immediate annuities , traditional fixed deferred annuities, and fixed index annuities. 8. The overarching characteristic of the immediate annuity is that it is a vehicle for distributing savings with a tax-deferred growth factor. 9. You can have an immediate annuity , where you receive monthly payments right after purchase, or a deferred annuity where payouts come later. 10. Here we call a pure annuity ( no accumulation phase ) an immediate annuity because it starts the stream of income immediately.
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