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A |
Lifetime annuity is like a
personal pension loan, wherein your annuity provides
income for your entire life. The amount (income) to the
person who has purchased an annuity is a fixed amount
till death. It functions as a retirement income
substitute for retirement plans, etc. In case, if you
die before your entire payment reaches you,
automatically the money goes to your beneficiary who you
have (named) given in writing at the time of purchase of
your annuity. |
