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ANNUTIES
- The term "Annuity" refers to an insurance contract issued and distributed by financial institutions to pay out invested funds in a fixed income stream in the future.
- Investors invest in or purchase annuities with monthly premiums or lump-sum payments. The holding institution issues a stream of payments in the future for a specified period or the remainder of the annuitant's life.
- Annuities are mainly used for retirement purposes and help individuals address the risk of outliving their savings.
More details about Annuities: