Broker Check

Guaranteed Lifetime Income - Possible Sources

 

Guaranteed Lifetime Income

Possible Sources

Title

Guarantor

Back-up

How it might work

COLA
(Inflation
protection)

Spousal
(Joint lifetime)

Pension – Corporate

Corporation

PBGC

Monthly payment
by corporation

Sometimes

Often if elected
by employee

Pension – Government

Government

Taxpayers

Monthly payment
by government

Sometimes

Often if elected
by employee

Pension - Union

Union
or outside entity

Varies

Monthly payment
by union

Sometimes

Often if elected
by employee

Structured Settlement

Settlor

Insurance
 possibly

Monthly payment
by settlor

Doubtful

Doubtful

Alimony – lifetime

Divorced spouse

Life insurance
Disability insurance

Monthly payment
by spouse

Doubtful

Never

Life Annuity
Immediate Annuity

Insurance carrier

State Guaranty Fund

Monthly payment
by carrier

Available

Available

Deferred annuity
with income rider

Insurance carrier

State Guaranty Fund

Monthly payment
by carrier

Available

Available