annuity

An annuity is a contract between an individual and a financial institution like an insurance company where the individual provides a lump-sum payment to the insurer. In return, the insurer invests the money on a tax-deferred basis and gives…

An annuity is a type of savings product that accumulates interest for a set period of time and then provides income in the form of one payment or multiple small payments. Fixed annuities and fixed indexed annuities both guarantee that you…