What Is An Immediate Income Annuity? 
What is an immediate income annuity ? Well it means rather than purchasing an annuity to accumulate growth , you are now in the distribution phase of your planning . An immediate annuity creates a payout stream that based on your life expectancy provides a steady stream of income payments for the rest of your life . There are guarantees you can put into your plan that insure if you pass sooner than expected your beneficiaries receive the balance of the account or they get continued payouts for a certain number of years . The immediate annuity is a product that you ca n't outlive . It will pay you as long as you 're alive . 