Immediate annuity plans are those annuity plans in which a person makes a lump sum payment to the provider and starts receiving a guaranteed monthly, quarterly, half-yearly or yearly income immediately. They can also choose among the options to get a one-time payment or receive a fixed amount at a regular interval of time. One also has the option to avail the life insurance annuity death benefit when one of the spouses passes away. Such retirement annuity plans are beneficial for those who are already retired as they start receiving an income for their expenses immediately. Also, one can convert his deferred annuity plan into an immediate annuity later, if they feel like doing. If someone is nearing his retirement or has already retired and has a lump sum amount to invest, they can invest in an immediate annuity and choose to receive an income when they need it the most. Through
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