Stocks, bonds, and retirement accounts are vital components of any investment strategy. But for guaranteed income, you should consider purchasing a deferred income annuity, which can provide an incredible return on your investment. Louis John Stanzione at Fairfield Green Enterprises, an annuity specialist serving clients throughout Summit, NJ, explains how annuities often present surprising advantages for investors of any age.

Essentially, a deferred income annuity can be considered a type of reverse life insurance policy. Instead of paying monthly payments to an insurance carrier for a single lump sum payment to your family when you die, you'll pay a life insurance company a certain amount of money in advance. In return, you'll receive a guaranteed monthly income starting at a specified age, payments which will continue either until you die or a certain number of years have passed.

While the benefits of an annuity aren't always obvious, they can be a fantastic investment depending on the terms of the agreement and how long you live. For example, if you pay $125,000 to your life insurance company, for monthly payments of $850 starting at age 66, you would have recovered all of your initial payment by the time you're 79. If you live to be 86, you'll have collected $204,000.

There are a wide variety of options available in the annuities market, with provisions that allow you to maintain access to the funds you've paid and ensure your family is taken care of if you die early. Drawing on his extensive life insurance and annuity expertise, Louis John Stanzione at Fairfield Green Enterprises will help you find the perfect solution to meet your needs. Visit his website to see his full range of consulting and private wealth advisement services, or call (908) 277-2603 to make an appointment today.