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What’s An Annuity?
By admin | November 27, 2007
An annuity has several definitions and variations, but most simply it is a payment to a person from an investment contract or from the settlement of a personal injury lawsuit (structured settlement). Payments may occur 1 time or may be monthly, quarterly, or yearly. One kind of annuity is essentially a retirement plan - a person regularly pays into the annuity until a certain time, and then begins receiving regular payments from the annuity. There’s many options and variations to annuities, so make sure you understand what type of annuity you’re exploring as well as all the terms and conditions.
Topics: Business and Finance |
