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Elective Annuity Payment Option Form

Elective Annuity Payment Option Form

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Instructions and help about Elective Annuity Payment Option

welcome to this video from IQ wealth calculators this video series focuses on teaching financial concepts and how those concepts are calculated today we are going to talk about annuity payments to get started let's define an annuity an annuity is a financial instrument that someone pays money into and in return the annuity pays someone a set amount of money each year for a set period of time or until death and in certain cases even beyond death to a loved one an annuity can be set up a number of different ways but today we are going to talk about an annuity that is set up to pay out for a predetermined period of time to give a little background typically an annuity is purchased through an insurance company it can be purchased by contributing money into the annuity over a long period of time or it can be purchased by contributing a lump sum amount into the annuity all at once whatever the amount that is in the annuity when it starts making payments back to the annuitant that is

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