What Types Of Annuities Are There? 
Annuities are categorized in several ways . There are immediate annuities in which you pay a lump sum and the annuity starts paying out almost immediately , and there are deferred annuities where you make periodic payments and then start receiving payments years down the road . There are fixed annuities that guarantee an interest rate , and variable annuities for which the return is based on the stock market . Annuities can combine several features to produce a contract that works best for your financial goals . 