What is an annuity? Wednesday, June 12, 12:30 PM ET
The question, "what is an annuity," has been asked quite a bit recently based on increased investor interest in the topic. Annuities are contracts between an individual and an insurance company that requires the insurer to make payments to the individual, in the future, or immediately. An individual purchases annuities with either one payment or multiple payments. The annuity pays out either as a lump sum or multiple payments over a period of time.
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