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Annuities – What is an Annuity? Why do other people dislike annuities?
What is an Annuity? – Investopedia
An annuity is a contract between you and an insurance company in which you make a lump sum payment or series of payments and, in return, obtain regular disbursements beginning either immediately or at some point in the future.
There are four main types of annuities:
• Immediate annuities.
• Deferred income annuities.
• Fixed annuities.
• Variable annuities.