What Does Retirement Annuity Mean?

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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.

Retirement Annuity

Retirement Annuity

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.

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