There are several forms of affordable Life Annuities available.

• Temporary Annuity: The liquidation period is pre-defined, such as 10 years.
• Single Life Annuity: Payment period is uncertain, i.e., as long as the annuitant lives.
• Temporary Life Annuity: The liquidation period is a variable, either a specified length of time or when a person dies, whichever comes first.
• Joint and Survivor Annuity: When two or more individuals are named as annuitants, the payment is made as long as one is still alive.

An annuity payment can be made at the next payment interval after purchase, known as Immediate Annuity. It can also be paid sometime in the future, known as Deferred Annuity.

The Longevity Insurance can also be classified as Pure Annuity, Guaranteed Annuity, and Premium Refund Annuity.

A Pure Annuity will not pay the annuity if the death happens prior to the designated start of payments. Guaranteed Annuity pays a specified number of annuity payments whether or not the insured lives for the entire liquidation period. If the annuitant outlives the guaranteed period, payments continue until the end of the defined designated period or until death. Premium Refund Annuity refunds part or all of the premiums paid if the insured dies before the start of the liquidation period. Moving Companies Facts

Another classification to Longevity Insurance is Fixed Return Annuity and Variable Return Annuity. A Fixed Return Annuity guarantees a certain payment during the liquidation period. A Variable Return Annuity invests premiums and past income in variable return securities. The annuity the annuitant receives will vary depending on the investment return. PlusSizeClothing

When seeking for a Longevity Insurance, it is better to check if the plan has some important features. As a solid retirement plan, it should contain a fixed immediate annuity that provides a constant, fixed, and dependable monthly income stream for the rest of the annuitant's natural life. The retiree should be able to select a product with a cost-of-living adjustment so that payments increase every year by a certain percentage. The retiree should have the choice of sellecting either a real immediate annuity or a nominal immediate annuity. The immediate annuity should provide a choice of various survivorship and certainty periods in order to protect a spouse or dependant by continuing the payment stream beyond the life of the annuitant. The policy should provide the flexibility to select between fixed and variable immediate annuity.

There are also many other features need to be checked. Be sure to talk to a Insurance professional before you make your decision.