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HOW ARE ANNUITIES COMPARED WITH LIFE INSURANCE?
Annuities can be classified depending on the point of interest. Please refer to below table to have a better understanding on the matter;
| Annuities | By Parties In The Contract | Single Life | |
| Joint Lives | |||
| Survivorship | |||
| By Time When Benefits Begin | Immediate | ||
| Deferred | |||
| By Method of Purchase | Single Premium | ||
| Installment Premium | |||
| By Plan or Distribution | Straight (or) Pure Life | ||
| Guarantee or Refund | Installment | ||
| Cash | |||
| Period Certain | |||
| By Amount of Annuity Payment | Fixed Dollar (or) Equity-Index | ||
| Variable |
