= Life annuity
{wiki=Life_annuity}
A life annuity is a financial product that provides regular payments to an individual for the duration of their life. It is often used as a way to ensure a stable income stream during retirement. Here are some key features of life annuities: 1. **Payment Structure**: Upon purchase, the individual typically makes a lump sum payment (the premium) to an insurance company or financial institution. In return, they receive periodic payments, which can be monthly, quarterly, or annually.
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