What Is Guaranteed Annuity Rate

A guaranteed annuity rate also known as a GAR is an insurance policy that pays out a fixed income after retirement. It is typically used as a way to supplement other forms of retirement income such as a pension or Social Security.

A guaranteed annuity rate also known as a GAR is an insurance policy that pays out a fixed income after retirement. It is typically used as a way to supplement other forms of retirement income such as a pension or Social Security.

There are two main types of GARS: immediate and deferred. With an immediate GAR you begin receiving payments immediately after retirement. With a deferred GAR payments are delayed for a period of time (usually 5-10 years) and then paid out over the remainder of your lifetime.

The amount of income you receive from a GAR depends on a number of factors including your age gender health and the size of your investment. GARS are often sold as part of a life insurance policy so the death benefit can also be a factor.

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GARS can be an attractive option for retirees because they offer a guaranteed source of income for life. They can also provide peace of mind knowing that you will not outlive your retirement savings. However GARS can be expensive and may not be right for everyone.

If you are considering a GAR be sure to do your research and speak with a financial advisor to see if it is the right option for you.

What is a guaranteed annuity rate?

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How often do guaranteed annuity rates change?

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