What are Lincoln Benefit Life Annuity policies?


Quick Answer

Life annuities are a type of insurance that pay out during a specific period of time, often from the age of retirement until death; these policies require the policyholder to pay into the annuity while they are working (or to purchase the annuity in a lump sum) in order to receive payouts until their death. Lincoln Benefit life annuity policies are such policies offered by the Lincoln Benefit Life insurance company. Lincoln Benefit has undergone a number of acquisitions, and its variable annuity policies were purchased by Prudential Life Insurance Company of America in 2006, as stated by Resolution Life.

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Full Answer

As a result of its many ownership changes, Lincoln Benefit Life has issued assurances to its customers about the security of their investments and policies. For example, the company has a section on its website in which it reassures customers that guaranteed elements of a contract (such as a life annuity) will be fulfilled, as reported on the Lincoln Benefit Life website.

Life annuities are generally most beneficial to high-income earners who can stand to part with a large periodic investment into an annuity fund. Life annuities are tax-deferred products, so they can serve as temporary tax shelters for wealthy investors who are looking for a way to secure income without paying high taxes.

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