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The definitions contained herein are for general information only and are not designed for use in connection with the interpretation of any insurance policy or annuity policy issued through Insurance Answer Center.
Life Insurance Glossary Terms  4 A B C D E F G H I J K L M N O P Q R S T U V W Y

Immediate Annuity


This is an annuity contract that is currently paying, or will shortly be paying a regular stream of benefit payments. Some immediate annuities were originally deferred annuities that are now paying benefits (annuitization). However, immediate annuities may also be purchased outright with a single premium payment. While the benefit payment period may be for a specific period of years, most immediate annuities provide a guaranteed income for the life of the annuitant. Visit our annuity site to learn more about how annuities can help you achieve your retirement dreams. See also Deferred Annuity.

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