If you participate in a pension plan through your workplace, you'll have to decide how you want to receive the payout when you retire. Pension plans typically offer two disbursement options: an ...

Vikki Velasquez is a researcher and writer who has managed, coordinated, and directed various community and nonprofit organizations. She has conducted in-depth research on social and economic issues ...

An annuity is a financial product designed to provide a steady income stream, often during retirement. While an annuity can serve as a reliable paycheck replacement, the way your annuity pays out is ...

A straight life annuity is a form of annuity that makes payments for a single person’s life. It does not pay a death benefit, nor does it pay spousal benefits. The annuity payments end when the ...

Choosing the right type of annuity payout depends on when you want payments to start, how long you want them to last and if you want a survivor’s benefit. Single-life annuities provide higher income ...