Difference between revisions of "Purchased annuity"

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In its simplest form, a contract purchased from an insurance company that pays a periodic income (for example monthly, quarterly, semi-annually, or annually) for the life of a person, or for the lives of two (or sometimes more) persons.
 
In its simplest form, a contract purchased from an insurance company that pays a periodic income (for example monthly, quarterly, semi-annually, or annually) for the life of a person, or for the lives of two (or sometimes more) persons.
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Many variations on this basic theme are available.
 
Many variations on this basic theme are available.
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Generally that part of an annuity representing a return of capital is not taxable.
 
Generally that part of an annuity representing a return of capital is not taxable.
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== See also ==
 
== See also ==
 
* [[Annuity]]
 
* [[Annuity]]
 
 

Latest revision as of 15:53, 20 August 2013

In its simplest form, a contract purchased from an insurance company that pays a periodic income (for example monthly, quarterly, semi-annually, or annually) for the life of a person, or for the lives of two (or sometimes more) persons.

Many variations on this basic theme are available.

Generally that part of an annuity representing a return of capital is not taxable.


See also