A straight life annuity is a type of annuity that provides regular payments to the annuitant for their lifetime. This type of annuity is often used as a retirement income stream, as it can provide a predictable and steady source of income throughout retirement. When the annuitant dies, the annuity payments stop and the annuity contract is terminated. What is a 5 year certain and life annuity? A 5 year certain and life annuity is an annuity that pays out a fixed amount of money each year for 5 years, after which it pays out a variable amount of money each year for the rest of the annuitant's life. What is a straight life policy? A straight life policy is an insurance policy that pays out a death benefit to the beneficiaries of the policyholder upon their death. The policy does not have a cash value and does not accumulate any cash value over time. The policyholder pays premiums throughout their life and the policy pays out a death benefit to their beneficiaries upon their death. What is another term used for a pure life annuity? There is no other term for a pure life annuity. A pure life annuity is an annuity that pays out a fixed income for the rest of the annuitant's life, no matter how long they live.
What does a 10 year annuity mean?
An annuity is an insurance product that allows you to make regular payments into an account over a set period of time, after which you can either withdraw the money in lump sums or receive regular payments (known as an annuity payment).
A 10 year annuity means that you will make payments into the account for 10 years, after which you will either withdraw the money in lump sums or receive regular annuity payments.
What are the 5 different types of annuity?
1. Immediate annuity: This type of annuity pays out right away, making it ideal for retirement planning.
2. Deferred annuity: This type of annuity allows you to grow your money over time, making it a good option for long-term savings.
3. Fixed annuity: This type of annuity provides a guaranteed rate of return, making it a safe option for investors.
4. Variable annuity: This type of annuity offers the potential for higher returns, but also comes with more risk.
5. Indexed annuity: This type of annuity offers the potential for higher returns, while still providing some protection from market downturns.