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A longevity annuity offers protection against outliving your cash late in life. Also referred to as an sophisticated life delayed annuity, this kind of annuity demands you to wait till you attain age 80 or so to start getting a payout. After the payout starts, the annuity offers a assured, normal quantity of earnings for the rest of one's life.

They are generally utilized as a supplemental retirement investment. You usually would invest just a portion of one's retirement nest egg inside a longevity annuity – say, 10% to 25% – and leave the rest inside your other retirement accounts.

As with any deferred annuity, your cash inside a longevity annuity grows till you begin getting payouts. The later you select to start your payments, the bigger your payments will probably be.

In the event you die prior to you start to obtain payments, your heirs get absolutely nothing.

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