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Glossary of Insurance & Financial Terms
We believe a proper understanding of the terms and concepts will assist our clients in making more informed and better decisions in today's ever-changing and challenging culture.  This area is still underconstruction.

Consumer/Personal Glossary of Terms
   What is an Annuity? An annuity is a contract between you and an insurance company that allows your earnings to grow and compound tax-deferred. This is a powerful benefit that you can use to help you accumulate wealth for your retirement or other long-term financial goals. The word "annuity" literally means "annual payments". When you buy an annuity, the insurance company agrees to pay you an income for a specified period of time. Whether these income payments start right away or at some future date, determines what type of annuity you have: either deferred or immediate.
Site last updated 03/20/2024