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In 2009, Ted purchased an annuity for $60,000. The annuity is to pay him $1,500 per month for the rest of his life. His life expectancy is 120 months. A). Ted is not required to recognize any income until he has collected 40 payments (40 $1,500 = $60,000).
A Deferred Annuity With Flexible, Ongoing Payment Options. The Flexible Premium Deferred Annuity is a flexible-premium, deferred annuity that accepts ongoing deposits of as little as $50 per month. There is a one-year interest rate guarantee period on each deposit, which secures the crediting rate for that duration.