A Paycheck in the Mail Every Month
Business Week (12/10/01) p.A1; Higgins, Barry

Unlike deferred annuities, income annuities are used to dole out money that has already been accumulated. Purchasers of such products, which promise a lifelong payout, turn over a portion of their savings to an insurance company in return for a monthly check. While interest rates are currently low and payouts are not high, "This is the only thing that can bring lifetime income other than a pension or Social Security," says Farrell Dolan, an executive at Fidelity Investments Life Insurance.


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