An Introduction to Annuities
An annuity contract is purchased from a life insurance company. The individual gives the insurance company a lump-sum payment or a series of payments. In return, the company will provide a stream of payments to the individual. Although an annuity is purchased from a life insurance company, it serve...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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The University of Florida George A. Smathers Libraries
2014-07-01
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| Series: | EDIS |
| Subjects: | |
| Online Access: | https://ojs.test.flvc.org/edis/article/view/131629 |
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| Summary: | An annuity contract is purchased from a life insurance company. The individual gives the insurance company a lump-sum payment or a series of payments. In return, the company will provide a stream of payments to the individual. Although an annuity is purchased from a life insurance company, it serves a different purpose than life insurance. Below is a chart comparing life insurance to annuities.
This 4-page fact sheet was written by Michael S. Gutter and Lisa Leslie, and published by the UF Department of Family, Youth and Community Sciences, March 2014.
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| ISSN: | 2576-0009 |