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Joint and survivor annuity An annuity that provides income payment for the life of the annuitant, with smaller payments made to the surviving spouse for their life after the annuitant dies ...
An annuity is a financial product sold by insurance companies. It’s a contract where the annuitant pays a lump sum or a series of premiums in exchange for a guaranteed income stream in the future.
A deferred annuity that permits allocations to stock or bond funds and for which the account value is not guaranteed to stay above the initial amount invested is called a variable annuity (VA). A new category of deferred annuity, called the fixed indexed annuity (FIA) emerged in 1995 (originally called an Equity-Indexed Annuity). [5]
A life annuity is an annuity, or series of payments at fixed intervals, paid while the purchaser (or annuitant) is alive.The majority of life annuities are insurance products sold or issued by life insurance companies however substantial case law indicates that annuity products are not necessarily insurance products.
Single-premium immediate annuity (SPIA): SPIAs are the most common type of income annuity. You pay a lump sum upfront, and the annuity company starts making payments to you shortly after that ...
Ineligible for National Affordable Housing program if spouse ever purchased a home: Subject to conflict-of-interest rules for many government and government-related jobs; Ineligible to receive various survivor benefits upon remarriage; Providing financial support for raising children born of the marriage
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An annuity provides a predictable income stream, which can make it easier to budget and plan for future expenses. Meanwhile, a lump sum requires careful investment planning and budgeting to ensure ...