1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Annuities cost what you have to contribute to them. If you want to purchase an immediate annuity, you put in a lump sum that then gets paid back to you in period payments. If you purchase a deferred annuity, you make payments that add up inside the contract until you decide to take them out in regular payments back to you.
    Answered on June 10, 2013
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