Retirement
Looking ahead to the later years of retirement? A deferred income annuity can help you plan for the long term by allowing you to start guaranteed income payments at a future date — even as late as age 85.
This video shows how a deferred annuity can protect against longevity risk, strengthen your retirement income plan, and help ensure your savings last as long as you do. You’ll see how deferring income today can mean higher payments later — giving you greater security and flexibility in retirement.
Watch to see how a deferred income annuity can help you build a lasting income strategy designed for life’s next chapter.
Four reasons to purchase a deferred income annuity:
Reason #1: You get income payments for you (or you and your spouse) for life.
That's important because people are living longer. Over 80% of people who are age 62 will live to age 82, and about half, who are 62, will live to 92. With the average person retiring around age 62, you could easily spend 20 to 30 years in retirement.
Reason #2: You'll know exactly how much you'll get, right from the start.
With an annuity purchase at age 65, here's what your monthly, guaranteed income payments could look like for the rest of your life — guaranteed. You can use that money for whatever you want — things like bills, travel, and hobbies. And knowing your future income today helps you plan ahead and use your savings more effectively.
Reason #3: You'll get income payments that are protected from market risk.
A deferred income annuity delivers fixed, income payments that are guaranteed — and that means, when the stock market fluctuates, your payments won't.
Reason #4: You tailor your income needs to a later age in retirement.
By purchasing a Qualified Longevity Annuity Contract or QLAC, now you can postpone your income start date up to age 85. QLACs are a type of deferred income annuity that allow you to:
Defer income payments to a later age, which translates into higher income payments once they begin; protect against longevity risk (the risk of outliving your money), while remaining assets in your retirement savings plan continue to grow over time; and allow you to exclude the assets used to purchase the QLAC from required minimum distributions.
Contact your HR department to learn more about the guaranteed income options available in your retirement plan.
Use MetLife’s interactive tool to discover if you have a retirement income gap—the difference between your anticipated retirement income and estimated monthly expenses.
