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WHAT IS PURE ANNUITY?
Pure annuities are also called Straight Annuities and they provide periodic income payments during the liquidation period (period when an annuity starts providing income stream) that continue for as long as the annuitant lives.
Periodic payments can be monthly, quarterly, semi quarterly or yearly, where the frequently the payments, costlier to the annuity owner (because the insurer will occur more administration cost.) However, it should also be considered that the longer the payment frequency may result with the annuitant not getting some of the payments incase he dies. There is an option where annuities are made apportinable. This option provides a pro rata payment covering the period from the last payment to the time of death. However this options increases the cost of the annuity.
Pure annuities provide the maximum income per dollar of outlay, which is a good reason for people with a limited amount of capital.
