How Do Fixed Income Annuities Work?
- 37376 POINTSContact Meview profileDavid G. Pipes, CLU®, RICP®PROBusiness Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaA fixed income annuity is a contact with a life insurance company. In exchange for a sum of money the company promises to pay a monthly income to you for the balance of your life. The first major variation of this contract is a deferred fixed income annuity. The difference is that the sum of money is not applied immediately but deferred until a later date. There are many other variations of an annuity to include payments that are guaranteed for a specified period of time or payments that last through the lifetime of two people.Answered on August 20, 2014+01 0+1 this answerflag this answerview more answers by David G. Pipes, CLU®, RICP®
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