Series 24: 3.5.8. Annuities

3.5.8. Annuities

Annuities are investment vehicles used to provide steady income to an individual after retirement, often until death. An annuity is a contract between an individual and an insurance company. The individual, also called the annuitant, invests money with the insurance company either as a lump sum or in periodic payments. At some point, the insurance company begins dist