4 Basic Annuity Options
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1 Immediate -
Purchased with a single lump sum and payments are set to begin in at least 1 year.
2 Deferred -
Purchased with a lump sum or payments over time, but insured makes no withdrawals for at least one year.
3 Fixed -
Unchanged rate of interest and payments to the annuitant.
4 Variable -
Varying rate of return and payment are not guaranteed.
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