Pensions and annuities are special forms of life insurance policies that combine insurance with a form of saving.

Name: Pensions and annuities are special forms of life insurance policies that combine insurance with a form of saving.
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Pensions and annuities involve regular contributions to a plan, which is then invested to generate returns. Upon retirement, the accumulated funds are used to provide a regular income stream, which is a combination of the savings and insurance elements of the plan.

Pensions and Annuities Are Special Forms of Life Insurance Policies