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.
For example, premiums can be paid for 10 straight months, then not paid for the next. 10 months, then paid every other month, or any combination thereof. The contract is a. flexible payment deferred annuity (FPDA) and the contract is annuitized at a later date.