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.
These categories are immediate- and deferred annuities. A contract is designated as an immediate annuity if income payments to the annuitant are scheduled to begin one payout interval (for instance, one month or one year) after the purchase date of the annuity.