An annuity refers to a type of financial contract or product bought by an individual from an insurance or financial services company with the promise of receiving regular payments later. A typical example of an annuity is a pension plan in which an individual pay during working years to receive an amount at a periodical period after retirement.
Annuities provide a secure, guaranteed income for a lifetime or a fixed term of your choice. They could be used as the foundation of your retirement plan.
Annuities are great because they provide guaranteed monthly income in retirement that doesn’t depend on how much money you have in your bank account or how long you live.
This is a Premium Content
Login if you have purchased
Membership
Get Access to all the Premium Content.More than 100+ Articles, Mini Courses, Quizzes and Contests.
