What does Flexible Premium Annuity mean? Read on to discover the definition & meaning of the term Flexible Premium Annuity - to help you better understand the language used in insurance policies.
Flexible Premium Annuity
A flexible premium annuity is a retirement plan that allows the insured to choose the mode of payment for their premiums and their retirement income. This flexibility allows annuitants to exempt themselves from paying taxes on their premium payments.
We hope the you have a better understanding of the meaning of Flexible Premium Annuity.