2006-12-04 00:33:29 · 4 answers · asked by Pebbles 1 in Business & Finance ➔ Careers & Employment
Note that it is ANNUITY.
and yes, it is a yearly income. the word is from latin annum - year.
2006-12-04 00:41:32 · answer #1 · answered by OneLilithHidesAnother 4 · 0⤊ 0⤋
The word is spelled Annuity. If you didn't know that I recommend that you not buy one.
Typically an annuity is a life insurance product sold by some type of life insurance salesman.
Basically you give the insurance company a "chunk" of money ( also known as a sum of money) and the insurance company will pay you a series of payments for a period of time.
A "series of payments" usually means they will send you a monthly check (but it can be once per year or some other time period).
They will send it to you for a "period of time" - the time is usually stated but it can be the rest of your life, or for twenty years, or ten years, or whatever you sign up for.
Basically you get back the money you gave the insurance company and you get it back over time with some interest.
The insurance company is hoping or betting you will die before you get it all back. You are hoping you will live long enough to get more money from the insurance company than you paid in with the "chunk" of money.
These can be a "bad" deal for some people and a "good" deal for others.
You need a lot more information before you decide to buy one.
You get the information from your insurance salesman and then research the information at the library or through the internet.
It can be very confusing.
2006-12-04 14:27:31 · answer #2 · answered by All The Answers 2 · 0⤊ 0⤋
An income paid yearly.
2006-12-04 08:35:43 · answer #3 · answered by WC 7 · 0⤊ 0⤋
I don't know what that is
2006-12-04 08:35:32 · answer #4 · answered by yvohou91 2 · 0⤊ 0⤋