Guaranteed Lifetime Income - Possible Sources
Guaranteed Lifetime Income Possible Sources |
Title | Guarantor | Back-up | How it might work | COLA
(Inflation
protection) | Spousal
(Joint lifetime) |
Pension – Corporate | Corporation | PBGC | Monthly payment
by corporation | Sometimes | Often if elected
by employee |
Pension – Government | Government | Taxpayers | Monthly payment
by government | Sometimes | Often if elected
by employee |
Pension - Union | Union
or outside entity | Varies | Monthly payment
by union | Sometimes | Often if elected
by employee |
|
| | |
|
|
Alimony – lifetime | Divorced spouse | Life insurance
Disability insurance | Monthly payment
by spouse | Doubtful | Never |
Life Annuity
Immediate Annuity | Insurance carrier | State Guaranty Fund | Monthly payment
by carrier *Guarantees are based on the claims paying ability of the issuing company. | Available | Available |
Deferred annuity
with income rider | Insurance carrier | State Guaranty Fund | Monthly payment
by carrier *Guarantees are based on the claims paying ability of the issuing company. | Available | Available |
