Life Annuity

Annuities are contracts which function as insurance policies in reverse. (In fact, annuities are sold by insurers.) If you buy an annuity, you pay a lump sum or make a series of periodic payments to a financial institution. The annuities seller then invests the money and, under contract terms, must pay to you a series of fixed, periodic payments beginning at an agreed date for a period or, perhaps, as long as you might live ... Read more