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Results for tag: "Deferred Annuity"

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A deferred annuity is a type of pension product that allows individuals to save for retirement over a period of time. It is a long-term investment that provides a steady stream of income when the individual reaches retirement age. The annuity is typically purchased with a lump sum payment, and the funds are invested in a variety of assets such as stocks, bonds, and mutual funds. The annuity pays out a fixed amount of income each month, and the amount of income is determined by the amount of money invested and the rate of return on the investments. Deferred annuities are a popular choice for individuals who want to save for retirement but do not want to take on the risk of investing in the stock market. They provide a guaranteed income stream and can help to protect against inflation. They also provide tax advantages, as the income is not taxed until it is withdrawn. Some of the companies in the deferred annuity market include Prudential, MetLife, and Lincoln Financial Group. Show Less Read more