01.Core Concepts

A fixed immediate annuity pays periodic income payments that are guaranteed and fixed in amount The first payment starts one payment interval from the date of purchase A single-premium immediate annuity is an annuity purchased with a lump sum During the accumulation period prior to retirement, premiums are credited with interest The guaranteed rate is the minimum interest rate that will be credited to the fixed annuity The current rate is based on current market conditions and is guaranteed only for a limited period ‹#›