Payout annuities, simply put [Video - 1:25] (2012)

This document is housed on the Sun Life Financial server, under Brighter Life.

This video is part of a series dealing with a variety of money-related matters. Here, the focus is on payout annuities, which allow people to convert savings into regular income payments.

The narrator explains that a person buys an annuity from insurance company, which calculates the payment based on the amount of savings being converted; long-term interest rates; and the life expectancy of a person that age.

There several types of payout annuities. Term annuities provide a certain number of payments, while life annuities provide payments for as long as the person lives. There are also joint life annuities, which provide payments as long as the individual or his spouse lives.

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Added: 
2013-08-09
APA citation
Sun Life Financial. Payout annuities, simply put [Video - 1:25] 2012. Web. 23 Oct. 2020 <http://brighterlife.ca/2012/03/13/payout-annuities-simply-put-video/>
Sun Life Financial (2012). Payout annuities, simply put [Video - 1:25]. Retrieved October 23, 2020, from http://brighterlife.ca/2012/03/13/payout-annuities-simply-put-video/
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