My Annuity Adventure, A Quest for Understanding – Part II
After being overwhelmed by the sheer volume of information during my first search, I concluded this annuity topic was more complicated than I had expected. So I might as well just dive in and see if I can narrow it down to some bite size bits. Last time I “Googled it”, this time I am going to other resources to get the basic definition of an annuity.The American Heritage Dictionary says an annuity is the annual payment of an allowance or income. My mom used to pay me a weekly allowance of 25 cents (unless I was in trouble).
Investopedia says an annuity is: A series of fixed payments paid at regular intervals over a fixed period of time.
At this point, I realize how important good advice is to individuals considering selling their annuities. After reading so much information, I am sure I cannot make sense of this all by myself. I’m using one of my life lines and calling a friend.
Our sales manager is very knowledgeable about annuities. He is always willing to take his time to explain anything to me in a way I can understand. So I ask him for help about where to go from here. He tells me Prosperity Partners buys two different types of annuities:
1. Structured Settlement Annuities
2. Single Premium Immediate Annuities.
(Wow, this really narrows it down nicely) He says start with Wikipedia.com. I love this site; they seem to know everything, like my Mom when I ask her for advice.
So I am off to Wikipedia to check it out and return with definitions of these two types of annuities.
Related posts:
- My Annuity Adventure, The Quest for Understanding - Part I
- My Annuity Adventure Part IV, Getting Organized
- My Annuity Adventure Part III
Submitted to Customer Tips
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