An annuity is a contract between you and an insurance company in which you pay a lump-sum payment or a series of payments in exchange for regular payments, which can start right away or at a later date.
Is a contract between you and an insurance company in which make alump-Sum payment or series of payments and in return receive regular disbursements beginning either immediately or at some point in the future
It is the beneficiary of an annuity.
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.
difference between an annuity and a compound annuity?Read more: What_is_the_primary_difference_between_an_annuity_and_a_compound_annuity
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.
ordinary annuity
The option to get annuity every month is called monthly annuity.
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
Annuity loans are when an annuity holder borrows money against the value of an annuity contract. It allows one to access funds without having to cash out their annuity immediately.
Your annuity policy document should have all the withdrawal provision detailed for you. If not contact the company you have the annuity with and they can give you instructions. Before you withdraw from an annuity be aware of the tax treatment of your annuity withdrawals.