This weekend I visited my family back in Cincinnati and got to meet my Dadâs new iPad for the first time. I donât have enough money for this fancy technology so Iâve never really used an iPad before.
Deferred Annuities. A deferred annuity grows tax deferred until the contract is annuitized (put into a payment stream) or surrendered (paid out as a lump sum). This type of annuity is a vehicle for accumulating savings for a future goal, such as retirement, and eventually distributing the value.
*The annuitant in an annuity contract is the individual (it must be a human being) who is the measuring life of the contract, the person whose age and sex (for sex-distinct contracts) determines the amount of each annuity payment.