Annuity Insurance

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Annuity Insurance
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What is Annuity Insurance ?

• An annuity insurance is a long-term investment
  contract between a person and an insurance
  company in which the person makes a series of
  payments or a single payment in exchange for
  regular payments or income, either now or in the
  future.
• When a person is either facing unemployment or
  has retired, annuities serve to provide a
  consistent stream of income. Individual demands
  can be catered to while creating annuities.

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Different Types of Annuities

• Two main categories can be used to categories
  annuities
• Immediate annuity
• The time between the accumulation phase and the
  disbursal phase in an instant annuity is
  remarkably short. The accumulation phase of an
  annuity policy is the time when the policyholder
  is paying premiums. The annuity payments are
  given to the policyholder during the disbursal
  phase. According to the terms and circumstances
  of the annuity policy, payouts are handed out
  immediately in the case of an immediate annuity.
• Deferred annuity
• An immediate annuity is the complete opposite of
  a deferred annuity. In a deferred annuity, there
  is a protracted period of time between the
  accumulation phase and the point at which the
  policyholder receives annuitized payments.
  Payouts in a deferred annuity scheme begin at a
  future date rather than now because of a
  lengthier accumulation phase.

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