Q. What is annuity?
A. An Annuity is a legal contract between the contract owner and an insurance company.
The insurance company promises to pay the annuitant (usually the contract owner him/herself or a family member) a lifetime income stream in the form of annuity payments.
Annuities have tax-deferred feature, this allows the annuity owner to accumulate more money compared with fully-taxed investments, making annuities popular retirement planning tools.
A. An Annuity is a legal contract between the contract owner and an insurance company.
The insurance company promises to pay the annuitant (usually the contract owner him/herself or a family member) a lifetime income stream in the form of annuity payments.
Annuities have tax-deferred feature, this allows the annuity owner to accumulate more money compared with fully-taxed investments, making annuities popular retirement planning tools.
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