An annuity or Annuities is a long-term (often 5 years or more), interest-paying contract offered through an insurance company.
Annuities can be “deferred” as a means of accumulating income while deferring taxes, or it can be “immediate” and pay you an income now and as long as you live.
You may say an annuity is insurance in reverse. Instead of you making monthly payments and getting a lump sum upon death, you invest a lump sum and receive monthly payments for a set period of time.
Learn all the basics of Annuities and how selling them can benefit you. All the questions and information you need to asl when selling your annuities at hand!