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Longevity

Types of Annuities Part 5: Longevity Annuities (Qualified Longevity Annuity Contracts, QLAC)

A longevity annuity, or QLAC, provides protection against outliving your money if you or your spouse have good longevity. Also known as an advanced life delayed annuity, this type of annuity requires you to wait until you reach age 80 or later, to begin receiving a payout. Once the payout begins, the annuity provides a guaranteed regular amount of income for the rest of your life. These are...
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