Have you ever had annuities explained to you? If not, then let?s start off with the basics. Annuities are financial products sold by insurance companies and are usually intended for eventual retirement. Insurance companies provide people who buy annuities with payments that they will receive upon reaching the qualified age. These payments will be like incomes, received periodically with a schedule that is usually predetermined. There are two kinds of annuities: fixed annuities and variable annuities. The following will be an attempt to explain annuities in common terms.
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Source: http://www.qwoter.com/college/retirement-investing/annuities-explained.html
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