Annuity Insurance Law and Legal Definition

Annuity insurance means an insurance that agrees to pay the insured for a stated period or life time. It allows the insured to withdraw the funds at a later stage, with interest and without paying excessive taxes. It serves as a good investment scheme that allows the insured to invest his/her financial assets in a proper way. Most companies provide three popular annuity insurances such as fixed annuity insurance, indexed annuity insurance and variable annuity insurance.