These represent a series of payments for the life of the participant and beneficiary.

Question

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Annuities are a type of financial product that provides a series of payments for the life of the participant and beneficiary. Collateral payments are payments made to secure a loan or debt, periodic payments may refer to any recurring payments, and lump sum distributions involve a one-time payment of a whole amount, rather than a series of payments.

These Represent a Series of Payments for the Life of the Participant