Are any form of lifetime annuities (not short term, as in 5 years) insured by the Federal Government? This would be for a monthly payment for life with nothing else to do.
I’m not an expert, but I don’t think anything is guarenteed by the US Guvmint except US Treasury Bills/Bonds. I don’t think they go beyond 20 years. That is my memory but might not be true these days.
No annuity sold by your local “insurance agent” is guarenteed by the US Gov’t. ]
That’s not to disparage insurance agents–just the ones who sell people annuities when that isn’t what they need. Banks and other institutions do the same, now that they are allowed in the arena.
Get the idea that I don’t like the word “annuity?”
An annuity may be proper for a few cases, but not in general.
samclem is correct. Don’t get involved w/ annuities unless you really know what you’re doing.
Why don’t you guys like lifetime annuities, especially when the person needs a steady income, say over a 25 year period, and the person is not equipped to invest and reinvest over time?