Loanfactz Definitions
Glossary of Legal Terms, Loan Terms and Home Construction, Repair and Maintenance Definitions. Some words have more than one meaning. Only those meanings relating to this site will be used.
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Annuity
An amount paid yearly or at other regular intervals, often at a guaranteed minimum amount. An annuity is a type of insurance policy in which the policy holder makes payments for a fixed period or until a stated age, and then receives annuity payments from the insurance company.
The National Insurance Consumer Helpline can answer questions about annuities at 1-800-942-4242. The helpline also will send you a free booklet called A Consumer's Guide to Annuities, which lists basic terminology and outlines the difference between types of annuities.
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