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Annuity is:

Annuity is:

  • (a) A sum of money received on a regular basis as one of a series of fixed payments
  • (b) A financial product designed to pay out a stream of payments to the holder at a later point in time
  • (c) Both(a) and (b)
  • (d) Annual payment of dues
  • Annuity: There are two ways to define an annuity, depending on the perspective you are considering—general finance or a particular insurance product:
  • (a) A series of equal payments: Generally, an annuity is nothing but a series of equal payments made at regular intervals (monthly, quarterly, or yearly) for a fixed period of time. You already know examples of this, such as rent payments, mortgage payments, or interest received from bonds.
  • (b) A retirement income solution: In the realm of insurance and financial planning, an annuity is a financial contract that you purchase from a financial organization. The main aim of an annuity is to increase your money and then provide a steady income stream in the future, typically during retirement, so that you never run out of money.
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Related MCQs:

 ‘NATO’ is an abbreviation of:

March 18, 2026 No Comments
  • (A) North Atlantic Treaty Organization
  • (B) Non-Aligned Treaty Organization
  • (C) Non-Aligned Trading Organization
  • (D) North American Transport Organization

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