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Q: WHAT DO YOU MEAN BY ANNUITY?

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I assume you mean draw on annuity early. Depends on the type annuity. If deposit type ...yes. If deferred payout annuity...no, (like a pension) not until you reach a certain age.

That means that if your husband predeceases you then the annuity payments would go to you as the survivor.

If the annuity is a non qualified tax deferred annuity (an annuity that taxes were paid on the money before they were placed into the annuity) you will pay taxes on any interest growth when it is removed from the annuity. If the annuity is a qualified annuity (no taxes were paid prior to placing the fund into the annuity) you will pay taxes on all withdrawals from the annuity.

A retirement annuity will give you a guaranteed income after you retire. If the annuity is owned by an insurance company then they will have control over your money so it is important to shop around for the best deal.

ordinary annuity

The option to get annuity every month is called monthly annuity.

difference between an annuity and a compound annuity?Read more: What_is_the_primary_difference_between_an_annuity_and_a_compound_annuity

A period certain annuity is an annuity that pays out an income stream for a set period of time. A life annuity pays an income out for the lifetime of the annuitant (the person whose life the annuity is based on).

ordinary annuity we paid at the end of the period annuity due we paid at the begging of the period

ordinary annuity we paid at the end of the period annuity due we paid at the begging of the period

An insurance annuity is a financial product in the form of an insurance product according to which a seller makes a series of future payments to a buyer in exchange for the immediate payment of a lump sum or a series of regular payments prior to the onset of annuity.

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