A private annuity is an annuity that is purchased from a private company, rather than from a government agency. Private annuities can be either fixed or variable, and can provide a variety of different benefits, depending on the terms of the contract. Because they are not backed by the government, private annuities may be more risky than other types of annuities, but they can also offer higher potential returns. What is the difference between an annuity and a pension? An annuity is a financial product that pays out a set amount of money each year for a fixed period of time. A pension, on the other hand, is a retirement benefit that is paid out by an employer to an employee.
What is the difference between retiree and annuitant? When you retire, you have the option to receive a lump sum payout or to annuitize your retirement benefits. If you annuitize, you will receive periodic payments for the rest of your life. An annuitant is someone who has chosen to annuitize their retirement benefits.
What is a self Cancelling note?
A self-cancelling note is a note that is not renewable, meaning that the borrower is not obligated to pay any more money after the original loan period expires. The note is said to be "self-cancelling" because the debt is automatically discharged after the loan period ends. Which type of contract liquidates? The answer is "all types of contracts".
What is a Scin premium?
A Scin premium is a type of annuity that offers a guaranteed income for life. It is a popular choice for retirees who want to ensure that they will have a steady income stream to cover their basic living expenses. Scin premiums are typically more expensive than other types of annuities, but they offer peace of mind and security to those who purchase them.