An annuity, or insurance for retirement, represents a contract between an individual and an insurance company, that requires the issuer to make payments to the individual either immediately or in the future. Someone can purchase an annuity either as a single payment or as a series of payments. Annuities offer a guaranteed income stream, making them especially appealing to retirees, or to people who want to transform an important lump sum into a uniform cash flow (eg: people who have won the lottery, people who have won in a trial, etc.).
Annuities
Annuities
Annuities
An annuity, or insurance for retirement, represents a contract between an individual and an insurance company, that requires the issuer to make payments to the individual either immediately or in the future. Someone can purchase an annuity either as a single payment or as a series of payments. Annuities offer a guaranteed income stream, making them especially appealing to retirees, or to people who want to transform an important lump sum into a uniform cash flow (eg: people who have won the lottery, people who have won in a trial, etc.).