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You may purchase an annuity by depositing a lump sum or by funding the contract over time with a series of premium payments. The annuity will pay out over whatever period is specified in the contract.
A life annuity is an annuity, or series of payments at fixed intervals, paid while the purchaser (or annuitant) is alive.The majority of life annuities are insurance products sold or issued by life insurance companies however substantial case law indicates that annuity products are not necessarily insurance products.
Annuities are a tool that can create reliable retirement income that can last as long as you do. Each annuity is a contract between you and an insurance company: You provide the company money now ...
In the United States, an annuity is a financial product which offers tax-deferred growth and which usually offers benefits such as an income for life. Typically these are offered as structured products that each state approves and regulates in which case they are designed using a mortality table and mainly guaranteed by a life insurer.
Like any source of retirement income, annuities have their pros and cons. Understanding these can help you make an informed decision about whether an annuity is right for you. Advantages of ...
The payments (deposits) may be made weekly, monthly, quarterly, yearly, or at any other regular interval of time. Annuities may be calculated by mathematical functions known as "annuity functions". An annuity which provides for payments for the remainder of a person's lifetime is a life annuity. An annuity which continues indefinitely is a ...