There are various types of life insurance plans. Income guaranteed policies provide an opportunity to receive a pension once a month, quarter or year in old age. A policyholder determines the term of the policy. In case of a person’s decease, the premiums immediately pass to his family members. Besides, this plan involves a profitability selection.
Retirement annuities offer a conservative approach to profit, but a person receives money until the end of his life, and after death, beneficiaries are given a burial allowance. Nevertheless, before choosing such a plan, you should calculate the amount of investment and expected inflation.
Let us not that the US government encourages such investments; that is why there are tax deductions in the country.
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