Lifetime Income Annuities

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Build Income You Can Count On

Retirement should be a time to relax, not worry about market dips or outliving your savings. That’s where a lifetime income annuity comes in. With this type of annuity — often called an immediate annuity — you can convert a lump sum of money into a guaranteed stream of income that starts right away and continues for life. It's like creating your own personal pension, customized around your needs.


At Hansol Financial & Insurance, we help clients across Los Angeles, Koreatown, West LA, and surrounding communities design retirement plans they can rely on — including annuities that deliver income month after month, no matter how long you live.

Who Is This Right For?

Lifetime income annuities are a great fit for people who:



  • Are retiring soon or already retired
  • Have 401(k) or IRA savings they want to convert into income
  • Value predictable, steady income over investment growth
  • Want protection from outliving their money
  • Prefer simplicity and stability over managing investments themselves


Whether you're looking to cover basic living expenses or supplement Social Security, these annuities can help create the financial security you deserve.

How It Works

You contribute a lump sum — either from savings, a retirement account, or a rollover — and in return, you begin receiving income almost immediately.


Payments can last for:

  • A set number of years
  • The rest of your life
  • Your life plus a spouse’s life (joint option)


We’ll guide you through choosing the right structure, considering your health, goals, lifestyle, and family needs.

Why Work With Hansol?

We specialize in helping LA-area clients understand and compare options clearly, with no pressure. You’ll work with a local advisor who can explain everything in simple terms and walk you through your choices — step by step. We’ll even help you weigh annuities vs other retirement income tools like Social Security strategies or life insurance with cash value.

Explore Your Options with a Free Consultation

Let’s talk about whether a lifetime income annuity makes sense for your goals. We offer free retirement income consultations — online, in person, or over the phone — so you can feel confident about your next step.

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Retirement Planning

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Fixed Annuities

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Indexed Annuities

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Multi-Year Guaranteed Annuities (MYGA)

  • What is a lifetime income annuity?

    A lifetime income annuity (also called an immediate annuity) is a product that turns your savings into guaranteed payments you receive for life. It’s often used by retirees who want to know exactly how much income they’ll have each month, starting right away.

  • When do payments start?

    With most immediate annuities, payments begin within 30 days to one year after you fund the annuity. If you're retiring soon or already retired, this makes it a great way to start income quickly.

  • Will the payments last my whole life?

    Yes. One of the biggest benefits of a lifetime income annuity is that the income continues for as long as you live — even if you live to 100 or beyond. You can also choose joint options that continue payments to a spouse.

  • Can I still leave money to my family?

    Yes, depending on how the annuity is structured. Some options include a “period certain” or refund guarantee, which ensures your beneficiaries receive remaining funds if you pass away early.

  • How is this different from a fixed annuity?

    A fixed annuity typically delays income until later and offers interest accumulation. A lifetime income annuity begins paying you immediately — it’s designed to generate income now, not grow savings for the future. We’ll help you compare both.

  • Is my money locked up once I buy one?

    Yes, in most cases. Once you buy a lifetime annuity, you can’t access the lump sum again — that’s why it’s important to plan carefully. We’ll help ensure this fits with your overall retirement plan before making any decisions.

  • How do I know if this is right for me?

    If you’re looking for guaranteed retirement income you can’t outlive, this could be a strong fit. The best way to know is to schedule a free consultation — we’ll walk through your options and answer every question.