Annuity:
Its is a periodic payment payable by the insurer to the life assured.Generally,it is used in context of retirement benefits.Under this type of insurance contracts of retirement contracts,the life assured pays fixed premium and the insurer,in return provides the life assured a fixed amount of income throughout his.her lifetime.
Its is a periodic payment payable by the insurer to the life assured.Generally,it is used in context of retirement benefits.Under this type of insurance contracts of retirement contracts,the life assured pays fixed premium and the insurer,in return provides the life assured a fixed amount of income throughout his.her lifetime.
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