Meaning of the term "Annuity" in Insurance - NEPAL MONETARY SOLUTIONS (NMS)

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Monday, March 3, 2014

Meaning of the term "Annuity" in Insurance

Annuity:- 

It is a contract that provides an income for a specific period of time to say for a number of years or for life. The person receiving the payment is called an annuitant. Annuity payments are usually made monthly but can be quarterly, semi-annually, or annually.

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