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>  Receive Stable, Monthly Income forLife
 >  Limit Market Risk & Retire with Confidence
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Knowing what is annuity will help you a lot in life.  You can enjoy steady flow of income when you retire with lots of viable annuity investments. Annuity can always be your income generator if it’s working in your favor. You need to be properly informed about what it is in order to gain more from every aspect of it.

There are several frequently asked questions regarding what is annuity.  People are always on the look out to search for pieces of information that will help them know more about the subject.  Discussed below are some of the common questions and their possible answers.

•             Is Annuity meant for Retirement purposes?

Sure, annuity is meant for retirement purposes but it’s not limited to that. You can invest in an annuity just to make sure you have steady flow of income when you retire. You can equally invest in annuity for other long term needs.  You’re sure of gaining a lot when you invest wisely.

•             What are the basic kinds of Annuities?

There are basically 4 types of annuities. They include variable annuity, equity index annuity, fixed annuity and lifetime annuity.  Each type is very unique.  Each type also has its pros and cons. You need to study the details of each type before thinking of making any choice.

•             What are the Categories of Annuities

There are two categories of annuities in use. They include immediate annuity and deferred annuity.  These 2 categories are seen in fixed annuity, equity index annuity and variable annuity.    In most cases, immediate annuity allows you to receive income payments right from the first month when you make your initial purchase payment. On the other hand, deferred annuity allows you to receive income payments on a future long date. Your investment is allowed to grow and mature before the withdrawal date.

•             Are there Charges in Annuities?

Sure! There are charges associated with annuities.  Among them include surrender charges, administrative fees and other charges.  There are also hidden charges.   In most cases, the charges depend on the kind of annuity you’re going for. They also depend on the kind of insurance company you’re using. You need to make proper inquiries before picking the right annuity that can help.

•             Are there terms and conditions in annuities?

Yes! There are terms and conditions involved in most annuities.  Basically, annuity is a contract you sign with an insurance company. Hence, there must be terms and conditions that bind you and the company. There’s always the need to go through the terms and conditions before you sign any contract deal with any insurance company.

The above are the frequently asked questions concerning what is annuity. There are still other pertinent questions which are mainly for private consumption.  If for any reason you’re confused about the right kind of annuity to go for, you can seek proper help from a financial adviser. A reliable insurance agent can also show you the right step to take.  You need to take time to locate the right insurance company to work with.