Deferred annuity

A deferred annuity is a type of annuity contract that delays income, installment or lump-sum payments until the investor elects to receive them. This type of annuity has two main phases: the savings phase, which is when you invest money into the account, and the income phase, which is when the plan is converted into an annuity begins paying the account owner. A deferred annuity can be variable or fixed—Read more at Investopedia. Kagan, Julia. “Deferred Annuity.” 24 November 2019