Oran Hall | Annuity tips for the soon-to-retire

Oran Hall | Annuity tips for the soon-to-retire

Credit: ADVISORY COLUMN: PERSONAL FINANCIAL ADVISER

QUESTION : I am about to retire and would like some information about annuities.

– Janet FINANCIAL ADVISER : An annuity is a contract between two parties – the issuer and the annuitant – whereby the issuer agrees for a stipulated premium deposit to pay to the annuitant regular payments, fixed or variable, at regular intervals, commencing on a specified date and guaranteed for a fixed period or for life or both.There are two basic types of annuities: immediate and deferred.An immediate annuity is bought with a single lump-sum payment, and annuity payments start […]

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