Annuity

A type of sales charge that applies if you withdraw money from a variable annuity within a certain period of time, usually six to ten years. This is known as the surrender period. The charge declines...
Some annuities promise a bonus on your contract value, typically 1% to 5% of your purchase price. Always check the fees and expenses associated with this feature, as they can outweigh the benefit of...
The price paid for borrowing money. It is expressed as a percentage rate over a period of time. Interest rates may be fixed, meaning the rate is set and will not change, or may be variable or "...
Variable annuity contracts typically have a "free look" period of ten or more days. During this period, you are free to terminate your contract without paying any surrender charges and you will...
This annuity has no accumulation phase. Instead, you start receiving annuity payments right after you purchase the annuity.
With a deferred annuity, you make payments to an insurance company, which will be free from taxes until you reach a particular age or a date specified in your contact.