Immediate Annuity
Learn about what your options are with Immediate Annuities

Immediate Annuity

What is an immediate annuity?
An immediate annuity is a contract between an insurance company and an individual to convert a lump sum of money into monthly income for a specified period of time.

Why would someone want an immediate annuity?
An immediate annuity is a useful tool to invest now and establish a source of cash income on a monthly basis. For example, an individual could use $15,000 to create an immediate annuity that can be used for a child's education expenses, make child support / alimony payments, or provide monthly income for a relative.

How long can an immediate annuity provide monthly payments?
An immediate annuity can be set up to make payments for a specified number of years such as; 5 years, 10 years, 25 years, or monthly until your death (or have the payments transfer to a beneficiary of your choice upon your death.)

How much can an immediate annuity pay on a monthly basis?
What an immediate annuity will pay on a monthly basis is dependent upon your upfront investment to the insurance company and how many years you wish to receive payments. The more money provided upfront, the greater your monthly income payments will be. The shorter the term of the immediate annuity, the greater your monthly income payments will be.

Who offers immediate annuities?
Life insurance companies are the best source for immediate annuities. Consult with a life insurance professional for more detailed information of the benefits with an immediate annuity.

Latest Annuity News
March 19, 2007
Of all the financial products being sold today, the equity-indexed annuity has to be the worst for consumers. The principal can be locked up for years and have a surrender charge over 20%. The promise of a guaranteed return plus possibilities if the markets rise, has sparked unscrupulous salesman into targeting the senior market with this product.

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Other Credit Unions:

Pima FCU serves Pima County employees, including Pima County School District employees, eligible Select Employee Groups, and employees, volunteers or registered members of any nonprofit organization located in Pima County, such as a church, lodge, or Chamber of Commerce.
Transportation FCU membership is available to employees of Department of Homeland Security, Transportation Security Administration, and United States Coast Guard.
Greater Hartford Police FCU membership is extended to employees of federal, state, county and municipal agencies or departments engaged in the police protection industry who work in Hartford County, Connecticut.
Wallingford Municipal FCU is available to employees of the Town of Wallingford, Visiting Nurse Association of Wallingford, Wallingford Public Library, Holy Trinity School, Wallingford Volunteer Fire Department, and all family members as well.
Vendors Mutual Benefit Association CU is headquarted in West Hartford, Connecticut.

Credit Union News:

Police: Couple Captured After Bank Heist
WGAL 8 Susquehanna Valley - Feb 8, 2008
LOWER PAXTON TOWNSHIP, Pa. -- A York couple was arrested shortly after police said they robbed a bank in Dauphin County on Wednesday. State police said Davon Roberts and Latrish Gary held up the Members First Credit Union on Hershey Road around noon.

Full Story: http://www.wgal.com/news/15242598/detail.html?rss=lan&psp=news

Business expo Tuesday has Mardi Gras theme
Wisconsin Rapids Daily Tribune - Feb 04, 2008
A business expo and Mardi Gras event is set from 4:30 p.m. to 8:30 p.m. Tuesday at Hotel Mead. The event is sponsored by Heart of Wisconsin Business Economic Alliance, Keller Inc., Mid-State Technical College, Solarus, Hotel Mead, Bulls Eye Credit Union, Clifton Gunderson Financial Services, Ellis Stone Construction Co., Nicolet Staffing, Sratoga Community Bank, Sleep Inn Suites-Plover and Grand ...

Full Story: http://www.wisconsinrapidstribune.com/apps/pbcs.dll/article?AID=/20080204/WRT0101/80204144

Two Companies Receive Employer of Distinction Award
Voice of the Common Man - Feb 8, 2008
The Newfoundland and Labrador Credit Union and PF Collins International Solutions have been named Newfoundland's Employer of Distinction. The award was presented by the provincial Employers Council yesterday in St. John's.

Full Story: http://www.vocm.com/news-info.asp?id=26532

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