Thank you for your interest in lifetime income. This term “lifetime income” can mean different things depending upon what financial product you are talking about. The most classic form of “lifetime inome” is a pension plan. However, pension plans are a dying breed and fewer companies offer such a benefit. That’s why it’s important to consult with a professsional if you want to create your own personal pension plan (essentially). The truth is there are several types of inestment and insurance accounts that can provide a fixed supplemental income for you. In terms of years, the duration of this “lifetime income” amount can be configured to last for 20 years, or more, or less, or may be guaranteed for your whole life regardless of how long you live. Ultimately, the best plan must be customized to accomodate and harmonize with the rest of your portfolio.
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