Ads
related to: whole life vs annuity meaning and definitionbestmoney.com has been visited by 100K+ users in the past month
Search results
Results from the WOW.Com Content Network
Annuities are used in retirement planning, while life insurance is a better choice to prevent financial catastrophe. Annuities may offer a death benefit like insurance does, but its primary ...
Each annuity is a contract between you and an insurance company: You provide the company money now, and they promise to pay you a steady income later, potentially for the rest of your life.
Whole life insurance, or whole of life assurance (in the Commonwealth of Nations), sometimes called "straight life" or "ordinary life", is a life insurance policy which is guaranteed to remain in force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date. [1]
The payments (deposits) may be made weekly, monthly, quarterly, yearly, or at any other regular interval of time. Annuities may be calculated by mathematical functions known as "annuity functions". An annuity which provides for payments for the remainder of a person's lifetime is a life annuity. An annuity which continues indefinitely is a ...
You may want to consider both annuities and life insurance for your long-term financial plan. Essentially, you purchase life insurance in the event you die sooner than expected and you buy an ...
Life annuities may be sold in exchange for the immediate payment of a lump sum (single-payment annuity) or a series of regular payments (flexible payment annuity), prior to the onset of the annuity. The payment stream from the issuer to the annuitant has an unknown duration based principally upon the date of death of the annuitant.
Ads
related to: whole life vs annuity meaning and definitionbestmoney.com has been visited by 100K+ users in the past month