Annuities fall into one of two categories based on when the payments are set to begin. When the income payments of the contract begin at some point into the future, this is called?

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When the income payment of the contract begins at some point in the future, this is referred to as a deferred annuity. Deferred annuities can be begin generating payments one year or several years from the date of purchase of the contract.

Annuities Fall into One of Two Categories Based on When