A life insurance product that pays periodic income benefits for a specific period of time or over the course of the annuitant’s lifetime. There are two basic types of annuities: deferred and immediate: Deferred annuities allow assets to grow tax deferred over time before being converted to payments to the annuitant. Immediate annuities allow payments to begin within about a year of purchase.
ANNUITY
By David on July 10, 2005 11:15 PM
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About this Entry
This page contains a single entry by David published on July 10, 2005 11:15 PM.
ANNUITIZATION was the previous entry in this blog.
ANNUITY ACCUMULATION PHASE OR PERIOD is the next entry in this blog.
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