By: Steve Savant

Steve Savant — Sun, 08 Sep 2013 04:01:43 +0000

The first annuities were used in the Roman Empire. The Latin word “annau” translated is annual, but represented annual stipends and evolved into annual contract payments. In America, annuities were granted special tax favored treatment under the IRS code with tax deferred accumulation.

New answer on: Why Were Annuities Created?

By: Steve Savant