The immediate annuities offered by MetLife are purchased with a lump sum, they can be variable or fixed, income is received within 12 months or earlier and customers must make payments at least annually, states the MetLife website. Immediate annuities are also known as income annuities.
Annuities are used as part of retirement income because they are long-term investments, according to MetLife. The company offers several types of annuities for investors, including income annuities, shield level selector, fixed annuities and variable annuities. Customers should consult with a MetLife representative to choose an investment that meets their needs. Visit the MetLife website or call 1-877-235-1137 to learn more about options available through MetLife.