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Chuks Udo Okonta
Getting rents from tenants, sometime can be challenging and worrisome. Renovating damaged properties can also be very expensive.
If you don’t have the power and time to stand troubles over rented properties, buying immediate annuity may be your best option.
Immediate annuity is a retirement product offered by life insurance companies that allows an individual pay a sum of money to procure a life time retirement package that pays either monthly, quarterly or yearly for an entire life span.
If you desire peace of mind, that huge fund should be deployed to buying immediate annuity from a reputable insurance company with proven track records, which should pay you what you would have received from rent.
Benefits of immediate annuity over rent
*Immediate payment
As against rent which takes time to come due to long time in building or renovating a property, immediate annuity is programmed to commenced payment once terms and conditions are met and transact processes finalised.
*Peace
Immediate annuity gives peace of mind as you don’t strife to get monthly; quarterly or yearly payment benefits.
*Secrecy
Transactions on immediate annuity is solely between the annuitant and the insurer, unlike a property that the owner is known by the public.
*No tax
Most properties attract tax, but immediate annuity benefit is tax free.
*No Management fee
To avoid troubles from tenants, most property owners hand over their facilities to facility managers who are paid for the service rendered. For immediate annuity, there is no third party involvement and no charges.
*Prompt payment
Unlike rents that can be delayed by tenants, benefits payments from immediate annuity is paid by the insurer as agreed.
It can be argued that payment form immediate annuity stops when the annuitant dies, while properties are inherited by loved ones. It should be noted too that properties left by deceased individuals often tear the beneficiaries apart.
The option of getting rent or benefits payout from immediate annuity is yours, but note that having peace is priceless.
