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Understanding Annuities
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By Robert A. Sagar
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What Is An Annuity?
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An annuity is an agreement between you and an annuity company (an insurance company). In exchange for the money you put in, the company agrees to pay you an income, usually for life. Before you start receiving the income, our annuity earns money, just like any other investment, how much lifetime income you get depends upon how much money you invest in the annuity, how much your annuity account earns and how long you choose to wait before starting to receive your annuity payments...
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