Reviewed as of August-2023
A longevity annuity is similar in concept to an immediate annuity, but the lump sum payment is converted not to income for life beginning immediately. Unlike an immediate annuity, longevity annuity, payments may not begin until the distant future. Such a trade-off allows longevity annuities to provide “income that cannot be outlived,” but at a fraction of the cost of a traditional annuity product. In this session, we look at how longevity annuities work, the ways