An annuity is a financial product that’s designed to protect and grow your money, and then provide a stream of guaranteed income. Annuity basics
HERE'S HOW IT WORKS:
You purchase an annuity by making a payment to an insurance company.
Your annuity can grow in value over time.
When you are ready to start receiving income, your annuity can be turned into a steady stream of payments.
Other than pensions, annuities are the only products that provide guaranteed lifetime income.
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