Immediate annuities can supplement other sources of retirement income with payouts that begin soon after you buy them. They can be a good choice if you're retired or about to retire.
Typically, they're purchased with a single payment that's converted to a steady stream of income that lasts a lifetime (or a specified number of years). Some options let you pass payments on to a beneficiary after you're gone.
The two types of immediate annuities:
Immediate fixed annuity, which protects your retirement with steady, predictable income. See MetLife's Max Income® Immediate Fixed Annuity.
Immediate variable annuity, which allows for investment flexibility and potential income growth, if you can accept some risk. See MetLife's Preference Plus® Income Advantage Immediate Variable Annuity.
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Did You Know?
- You can choose payments that last your lifetime, the lifetime of you and your spouse (or another person), or a fixed number of years.
- You can fund an immediate annuity with a rollover from your IRA or 401(k) Plan.
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Like most annuity contracts, MetLife’s contracts contain surrender charges, exclusions, limitations and terms for keeping them in force. See your MetLife Representative for complete costs and details.
Variable annuity and variable life products are offered by prospectus only, which is available from your registered representative. You should carefully consider the product’s features, risks, charges and expenses, and the investment objectives, risks and policies of the underlying portfolios, as well as other information about the underlying funding options. This and other information is available in the prospectus, which you should read carefully before investing. Product availability and features may vary by state. The amounts allocated to the variable investment options of your account balance are subject to market fluctuations so that, when withdrawn or annuitized it may be worth more or less than its original value.
Ordinary income taxes apply to the taxable portion of income payments. All product guarantees are based on the financial strength and claims-paying ability of Metropolitan Life Insurance Company, New York, NY 10166.
Pursuant to IRS Circular 230, MetLife is providing you with the following notification: The information contained in this document is not intended to (and cannot) be used by anyone to avoid IRS penalties. This document supports the promotion and marketing of insurance products. You should seek advice based on your particular circumstances from an independent tax advisor.
MetLife, its agents, and representatives may not give legal or tax advice. Any discussion of taxes herein or related to this document is for general information purposes only and does not purport to be complete or cover every situation. Tax law is subject to interpretation and legislative change. Tax results and the appropriateness of any product for any specific taxpayer may vary depending on the facts and circumstances. You should consult with and rely on your own independent legal and tax advisers regarding your particular set of facts and circumstances.
Annuities issued by Metropolitan Life Insurance Company (MLIC), New York, NY 10166 and distributed by MetLife Investors Distribution Company (MLIDC)(member FINRA), Irvine, CA 92614. Securities, including variable products are offered through MetLife Securities, Inc., (MSI), (member FINRA/SIPC), 200 Park Avenue, New York, NY 10166. MLIC, MLIDC and MSI are MetLife companies.
