When you buy an annuity, you pay a certain amount of money called an insurance premium. This premium can be paid all at once in the beginning (called a single premium annuity), or it can be paid in installments (a flexible premium annuity). When an insurance company receives the premium from you, the premium is gathered and collected, or pooled, with the premium paid by all of the other people that buy annuities from the insurance company.
Posts Tagged ‘Life Insurance’
Annuities: How Does A Single Premium Immediate Annuity Work?
June 3rd, 2010 by Your Insurance Advisor
more...What’s More Important Than Life Insurance?
April 16th, 2010 by Your Insurance Advisor
With the advances in healthcare and living conditions, more Americans are living longer, healthier and exciting lives. These new lifestyles create additional needs related to how to care for themselves as they live longer and lead more active lives at advanced ages. In the past, the most men and women had to worry about was [...]
What is waiver of premium?
April 6th, 2010 by Your Insurance Advisor
A waiver of premium rider is actually an option that is available in a life insurance policy that pays the life insurance policy premiums if the insured becomes disabled and unable to make the policy premium payments.
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