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.
Articles by others on the same topic
There are currently no matching articles.