Insurance World

Immediate annuity refers to income now. The word annuity is Latin for income. With an immediate annuity, income payments start no later than one year after you pay the premium. You usually pay for an immediate annuity with one payment.

When income payments start, the insurance company will pay a rate in effect at that time to calculate the amount of your income payment. Structured Settlements are also funded with a form of immediate annuities.

Life Only- The Company pays income for your lifetime. It doesn’t make any payments to anyone after you die. This payment option usually pays the highest income possible. You might choose it if you have no dependents, if you have taken care of them through other means, or if the dependents have enough income of their own.

Life Annuity with Period Certain-The Company pays income for as long as you live and guaranteed to make payments for a set number of years even if you die. This period certain is usually 10 or 20 years. If you live longer than the period certain, you’ll continue to receive payments until you die. If you die during the period certain, your beneficiary gets regular payments for the rest of that period. If you die after the period certain, your beneficiary doesn’t receive any payments from your annuity. Because the “period certain” is an added benefit, each income payment will be smaller than in a life-only option.

Joint and Survivor- The company pays income as long as either you or your beneficiary lives. You may choose to have payments continue for a set length of time. Because the survivor feature is an added benefit, each income payment is smaller than in a life-only option.

The income rate depends on your age and the annuity payment option you choose. You will want to obtain a quote from at least two insurance companies.

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Protection and peace of mind— these are what having car insurance can offer you. Knowing you are protected against the unforeseen can remove needless worry. Planning responsibly for the future can make living in the present even better.

Almost every state requires motorists to have auto liability insurance. In states that do not require it, you must have sufficient funds to pay claims if you cause an accident. Liability coverage protects you from the cost of personal injury to others, as well as damage to property. You can adjust the coverage to match your assets. If your assets are plentiful, you will want to have a large amount of liability coverage, protecting you from any high dollar judgments against you.

You can also purchase car insurance to protect against both underinsured and uninsured motorists. If someone else causes a wreck, you can still enjoy coverage even if the other driver has little or no insurance. With the Insurance Research Council reporting an average of 14% of all motorists driving uninsured, this type of insurance makes good practical sense. Uninsured/underinsured motorist coverage is a smart and affordable self-help tool, one you cannot afford to be without.

If you are buying a car and finance it through a dealership or a lender, you will be required to carry collision and perhaps comprehensive insurance coverage. This provides payment to repair your car if it is damaged. It will also pay to replace it if it is a total loss. Even if your car is completely paid for, collision insurance provides a good hedge against expensive car repairs. Comprehensive coverage provides you protection against losses from theft and vandalism, and damage caused by nature, such as hail. If your car is almost as dear to your heart as your favorite pet, collision and comprehensive insurance allow you to repair or replace your car in most cases.

Because statistics show that teenage drivers are more prone to accidents than those in most other age groups, it makes sense to insure them against all possibilities. However, even if you are an older driver with a flawless driving record, you will also benefit from a good car insurance policy. It makes sense to protect yourself from others who may not be as skilled or careful as you are.

Car insurance carries the benefits of insuring you against future problems. Liability insurance allows you to pay for any damage, to property or people, caused by your car. Underinsured/uninsured insurance protects you from drivers with little or no insurance of their own. And finally, collision and comprehensive insurance allow you to repair or replace your car, even if a wreck is your fault or caused by acts of nature, such as a falling tree branch. Having car insurance can truly put your mind at ease.