What is the meaning of annuity?

Many aspects of an annuity can be tailored to the specific needs of the recipient. In addition to choosing between a lump sum payment or a series of payments to the insurer, you can choose when you want to annuitize your contributions - that is, start receiving payments. read more

All annuities are tax-deferred, meaning that the earnings from investments in these accounts grow tax-deferred until withdrawal. Annuity earnings are also tax-deferred so they cannot be withdrawn without penalty until a certain specified age. read more

Define annuity. annuity synonyms, annuity pronunciation, annuity translation, English dictionary definition of annuity. n. pl. an·nu·i·ties 1. a. The annual payment of an allowance or income. b. The right to receive this payment or the obligation to make this payment. 2. read more

An annuity is similar to a life insurance product, but there are important differences between the two. Under the terms of a life insurance policy, the insurer will generally make a payment upon the death of the insured. Under the terms of an annuity, the company makes its payments during the lifetime of the individual. read more