Annuity

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Annuity

Annuity

Annuity is the life insurance product through which periodic income benefits are paid for a specific period of time or over the course of the annuitant’s lifetime. There are deferred annuities (that allow assets to grow tax deferred over time before being converted to payments to the annuitant) and immediate annuities (that allow payments to begin within about a year of purchase).

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