Annuity specially design to help a long-range of financial goals or needs. A contract between and insured party or an insurance company. Annuity insurance provide a guaranteed distribution of income overtime.
Types of Annuities
- A fixed annuity – a guaranteed payout based on the premium paying ability of the issuing company
- A variable annuity – payout based on the performance of the annuity under in investment
- An immediate annuity – your payouts can begin as soon as contract established between customer or an insurance company