In investment, an annuity is a series of payments of the same kind made at equal time intervals, usually over a finite term. Annuities are commonly issued by life insurance companies, where an individual pays a lump sum or a series of premiums in return for regular income payments, often to provide retirement or survivor benefits.
In investment, an annuity is a series of payments of the same kind made at equal time intervals, usually over a finite term. Annuities are commonly issued by life insurance companies, where an individual pays a lump sum or a series of premiums in return for regular income payments, often to provide retirement or survivor benefits.
Typical examples include regular deposits to a savings account, monthly home mortgage payments, monthly insurance premiums and pension payments. The value of an annuity is usually expressed as a present value or future value, calculated by discounting or accumulating the payments at a specified interest rate.
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