01.Core Concepts

A bonus annuity pays a higher interest rate initially The liquidation period is the period in which funds are paid out, or annuitized A deferred annuity pays periodic income payments at some future date A single-premium deferred annuity is purchased with a lump sum, but income is deferred until some future date A flexible-premium annuity allows the owner to vary the premium payments A longevity annuity begins paying benefits only at an advanced age, such as age 85 ‹#›