🎴 Flashcard Mode
Annuities: Fundamentals and Taxation
Card1 / 7
Mastered0
Review0
QuestionClick to flip
What is an annuity?
AnswerClick to flip back
A
A contract between an insurance company and an individual
💡 Explanation:
An annuity is a contract between an insurance company and an individual in which the insurance company agrees to make periodic payments to the individual for a specified period of time or for the rest of their life.