Is an annuity a type of life insurance?

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Yes an annuity is a life insurance product. Its kind of like the opposite of life insurance.
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How are pension plans funded by life insurance policies or annuities?

Answer . I know that some pension plans are funded with Annuities. Basically an annuity is a retirement vehicle that you contribute to and then when you retire, that annuit

What is the difference between annuity life and whole life insurance?

1. annuity is paid till a person passes away whereas life insurance is paid after a person passes away to the beneficiaries 2. annuity is paid as periodic installments wher

How is an annuity opposite a life insurance policy?

There are basically two risks in life - that of dying early and that of living too long. Life insurance - basically term insurance - covers the former while endowment insuranc

Whole life Annuity-life insurance?

Whole life insurance is a product that provides a death benefit, along with a feature that allows you to build up cash value. I am not exactly sure what you mean by Annuity Li

What is the difference between life insurance and annuities?

Life insurance protects one's beneficiaries against financial loss as a result of the purchaser's dying too soon, while annuities protect purchasers against financial loss as

What type of insurance is an annuity?

an individual who buys an annuity pays the insurance company a sum of money and, in return, will receive a monthly income for as long as the purchaser lives.

Can life insurance cash value be converted into an annuity?

The cash value can be borrowed from the insurance policy and an annuity purchased with it. Depending upon the insurer, you may be able to have the two transactions done with t

Can a life insurance policy own a variable annuity?

No. These are two different animals. There are variable life insurance policies as well as variable annuities. These are often tied to the results of certain type of mutual fu