What does Retirement Annuity mean? Read on to discover the definition & meaning of the term Retirement Annuity - to help you better understand the language used in insurance policies.
A retirement annuity is a financial tool that is used to help prepare for retirement. People pay into the annuity during the accumulation phase then, once the policyholder reaches a certain age, the annuity pays out money according to a schedule.
We hope the you have a better understanding of the meaning of Retirement Annuity.