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Annuity

Annuity Definition

A financial contract between an insurance company and the policy holder (purchaser) that provides for a series of payments at regular intervals to be received for a number of years or over a lifetime. Earnings of annuities grow tax-free until payouts begin, which is usually around 65. Annuities are hybrids of insurance and investments.


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Suzeorman.com - TRUTH ABOUT ANNUITIES



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