You will receive income for life, guaranteed by the insurance company. If you die before the guarantee period is over, your beneficiaries will receive the remaining number of payments. This type of annuity option is often called a “life annuity with period certain.” Lifetime Income for Two.
Do Fixed annuities pay for life?
Income payments from a fixed annuity can be guaranteed for life, commonly referred to as a life annuity or single-life annuity, or for a set number of years, depending on the terms of the contract specifying the annuity payout options.
Who is a fixed annuity good for?
Fixed annuities are a good investment for those looking for a safe, tax-advantaged way to earn a guaranteed return on retirement savings needed in the near future (3 to 10 years). Fixed annuities operate very similarly to CDs.
What are the terms of a MetLife fixed income annuity?
All MetLife Fixed Income Annuity product guarantees are made solely by the issuing insurance company and are subject to the issuing insurance company’s claims-paying ability and financial strength. Like most annuity contracts, MetLife Fixed Income Annuities have limitations, exclusions, termination provisions and terms for keeping them in force.
How to contact MetLife for group annuities?
You can contact your financial professional with any questions, log in to your account online, or reach MetLife at the numbers below: For Group Annuities purchased through your employer: 1-800-560-5001. For Individual Annuities purchased on your own or through a Broker: 1-800-638-7732.
What makes a fixed annuity different from other retirement plans?
All annuities have one feature in common, and it makes annuities different from other financial products. With an annuity, the insurance company promises to pay you a retirement income for a fixed period of time or for the rest of your life. Fixed Annuities and MYGA contracts are considered tax-deferred accumulation retirement plans
What’s the difference between MetLife and Brighthouse annuities?
The first option provides income on a fixed schedule for at least the next 10 years of your life, whereas the second choice offers guaranteed payments over 10 years for the life of both you and your co-annuitant. Annuitants can make withdrawals, but only within certain thresholds sets by Brighthouse.
