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An ordinary annuity is when a payment is made at the end of a period. An annuity due is when a payment is due at the beginning of a period. While the difference may seem meager, it can make a ...
Each annuity is a contract between you and an insurance company: You provide the company money now, and they promise to pay you a steady income later, potentially for the rest of your life.
When using the general term “annuity,” there are two types of annuities: ordinary and period due. Ordinary annuity: Payments are due at the end of the period. Annuity due: Payments are due at ...
If the payments are made at the end of the time periods, so that interest is accumulated before the payment, the annuity is called an annuity-immediate, or ordinary annuity. Mortgage payments are annuity-immediate, interest is earned before being paid.
Here are some of the most common annuity terms and definitions. 1035 exchange. ... A fixed-period annuity option that provides regular payments for a predetermined length of time. The payment ...
Immediate payment annuities begin within a year or less. An annuity has two broad periods in its life — the accumulation phase and the annuitization, or payout phase. In the accumulation phase ...