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When you buy a deferred annuity , the interest credited to your contract builds up free of current income tax . This means that once your expenses reach a certain amount in a given calendar year , the reasonable and customary fee for covered benefits will be paid in full by the insurer and you no longer pay the co-insurance . If you buy a deferred annuity with a lump sum , it is known as a " single premium deferred annuity " . Some companies charge a small annual maintenance fee , perhaps in years in which no premium payment is made , under a flexible premium retirement annuity . According to Western intelligence agencies , Khan sold Iran hundreds of aging centrifuges that helped Iranian technicians build a more advanced type , known as P-2 , an important step for enriching uranium and ultimately making nuclear weapons .