Definition of "Immediate annuity"

Ofelia  May, PA, GRI, AHWD, MRP  real estate agent
Ofelia May, PA, GRI, AHWD, MRP , Real Estate Agent ERA Grizzard Real Estate

Annuity that begins payments after a single premium is paid. For example, the annuitant pays a single premium of $100,000 on June 1 of the current year and begins receiving a monthly income of $1200 for life starting July 1.

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