Q: What is an Annuity?

A: Annuity is an investment or retirement plan in which you pay money to an investment or insurance company over time or in a lump sum . You pay money into your account with an insurance or investment company and over time it would accumulate earnings.  The money grows tax-deferred and yields earnings at the rate stated in the terms of agreement. Understanding the terms of annuity is very important so that you will not be faced with disappointment when you need it most.

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