Yesterday my good friend forward me this sale proposal on this variable annuity policy.

This policy looks ideally suited for retirement.

Majority of the annuity policies look bad because the returns are around 2-3% and people think its highly dependent on how long you live.

For me, there are other benefits of annuity. For one, if your retirement savings is large enough, you can actually lock in a good lucrative fixed payout. This payout can be used to cover daily expenses.

Remember! I am not saying all your retirement  funds go into an annuity, think of this as the cover for your daily expense account.

For more on Annuities and their rate of return, read this article I wrote previously.

Withdrawal of highly popular high guaranteed retirement plan!!

With effect from 30th April 2013, the only Guaranteed + Perpetual Payout plan for retirement planning will be withdrawn from accepting further ...