Annuities
An annuity contract is created when an insured party, usually an individual, pays a life insurance company a single premium that will later be distributed back to the insured party over time. Annuity contracts traditionally provide a guaranteed distribution of income over time, until the death of the person or persons named in the contract or until a final date, whichever comes first.
Types of Annuities
- Fixed Annuity
- Variable Annuity
- Immediate Annuity
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